What the decision is will ultimately influence a chunk of how the team plans to proceed this summer.\u00a0 If Ovechkin stays, he fills a top-six spot on the wing, though not the top-line one he had for most of his career.\u00a0 And if he opts to move on, then they have a big hole to fill on the wing.\u00a0 Notably, despite his age (40), only one pending UFA forward (Alex Tuch<\/a>) had more points than Ovechkin\u2019s 64.\u00a0 Accordingly, they\u2019d likely have to turn to the trade market to try to fill that vacancy.<\/p>\n Considering his age, it certainly wouldn\u2019t be surprising if Ovechkin\u2019s next contract is a one-year deal, should he decide to stay.\u00a0 If that\u2019s the case, he\u2019s eligible to sign one with performance bonuses in the deal, something that could be done to give Washington more cap flexibility.\u00a0 With over $31MM in room at the moment, per PuckPedia<\/a>, they may not necessarily need that flexibility but if Patrick has big plans, maybe they will.\u00a0 Ovechkin\u2019s now-expiring deal carried a $9.5MM AAV; it wouldn\u2019t be entirely shocking if his next contract (including bonuses, if any) was in that price range as well.<\/p>\n Re-Sign McMichael<\/p>\n Two years ago, Washington opted to sign forward Connor McMichael<\/a> to a bridge deal.\u00a0 That kept more money free for their shopping spree and considering he had just become a full-time player the year before, there was lots of logic to the decision.\u00a0 McMichael, meanwhile, went and had two pretty strong seasons on his two-year, $4.2MM pact.\u00a0 He notched 57 points in 2024-25 and followed that up with 46 in 78 outings this season while transitioning toward playing down the middle on more of a regular basis.<\/p>\n AFP Analytics pegs<\/a> McMichael at a five-year pact worth a shade under $6.5MM per season while getting three extra years of club control.\u00a0 In this marketplace, that might even be a little light while adding more seasons to the agreement could push the price tag more toward the $8MM mark.\u00a0 By the time they re-sign him and re-sign or replace Ovechkin, more than half of that cap space will already be gone but getting McMichael locked up on a longer-term deal should be a big priority this summer.<\/p>\n Add Right-Shot Defender<\/p>\n With Jakob Chychrun<\/a>, Martin Fehervary<\/a>, Rasmus Sandin<\/a>, Cole Hutson<\/a>, and Declan Chisholm<\/a>, the Capitals are more than well-set on that side of their back end.\u00a0 If anything, their depth there could allow Patrick to shop someone to try to fill another hole elsewhere.<\/p>\n However, things aren\u2019t as great on the other side.\u00a0 Their right-shot options are Matt Roy<\/a>, Timothy Liljegren<\/a>, and Dylan McIlrath<\/a>.\u00a0 Roy has been solid in his first two years in Washington but is ideally a second-pairing player.\u00a0 Liljegren, who just re-signed, hasn\u2019t progressed beyond being a third-pairing option for most of his career, while McIlrath is more of a veteran journeyman who shouldn\u2019t be counted on to play too much.<\/p>\n In other words, they need to try to replace John Carlson<\/a>, who was moved to Anaheim a little before the trade deadline.\u00a0 Interestingly enough, one of the players they could plausibly look at is Carlson himself, as the sides explored extension talks before the trigger was pulled on a swap.\u00a0 Other impactful right-shot rearguards set to reach unrestricted free agency are Darren Raddysh<\/a>, Rasmus Andersson<\/a>, and Jacob Trouba<\/a>, although it should be expected that at least one of those players will ultimately re-sign.<\/p>\n With Sandin being able to shift to his off-side, this isn\u2019t a must-add for the Capitals this summer.\u00a0 Chychrun is a top-pairing piece and Hutson showed plenty of potential late in the year; those two anchoring the back end with above-average depth could work.\u00a0 But in a very tight Eastern Conference, augmenting the group with another impact right-shot option would even be better.<\/p>\n Work On Leonard Extension<\/p>\n![\"\"](\"https:\/\/www.rawchili.com\/nhl\/wp-content\/uploads\/2026\/05\/connor-mcmichael-capitals-229x300.jpg\")
<\/a>All things considered, that\u2019s a pair of solid seasons to bolster his arbitration case as he reaches eligibility for that for the first time.\u00a0 McMichael is two years away from being able to test the open market so while they could kick the can down the road and try to do a one-year pact, the more probable outcome is a longer-term agreement.\u00a0 The Capitals could opt to take him to a hearing but that would allow his camp to ask for a two-year contract that walks him right to unrestricted free agency so it would be surprising to see the team go down that road.\u00a0 Conversely, if McMichael files, Washington gets to pick the term and would almost certainly choose a one-year agreement.<\/p>\n