Washington Capitals’ 3 Best Contracts Entering 2026-27 – The Hockey Writers –

The Washington Capitals entered the 2026 offseason with $31 million in cap space under the $104 million cap. General manager Chris Patrick earmarked at least $9.5 million for the return of captain Alex Ovechkin, who has earned that amount since the 2008-09 season.

That left the Capitals with approximately $21.5 million to add to the roster and have a projected $75,417 under the opening-night limit, per Puck Pedia. With Patrick squeezing every American dollar out of that remaining space, it’s no surprise that the majority of Washington’s best contracts were already on the books heading into this offseason.

Alex Ovechkin Retains Team-Friendly Cap Hit in Washington

There may be no more team-friendly deal in the NHL than Ovechkin’s $4.25 million contract extension signed on July 2. An easily achievable performance bonus worth $4.75 million for skating in 10 games increases the contract value to $9 million.

While significantly closer to the AAV of the contracts over his career, paying less than $10 million for the NHL’s all-time leading regular-season goal-scorer is absurd value, considering the best players in the game are creeping toward the $20 million mark after $18 million annual contracts were handed to Leo Carlsson and Macklin Celebrini this offseason. 

The 40-year-old superstar enters the new campaign with a more talented cast around him as he looks to hit a sixth straight 30-goal season. On paper, a stronger roster should give Ovechkin more time and space to operate, which has always been dangerous for opposing netminders.

If Ovechkin can net his customary 30+ goals, he will push his total from 929 to over 960. It could be close enough for him to return for another epic chase at a once unfathomable 1,000 regular-season goals in the NHL. 

Dylan Strome Is Underpaid for a Top-Line NHL Center

While other players in Washington’s lineup steal the headlines, Dylan Strome has quietly become one of the most effective top-line centers in the NHL. Last season’s 19-goal, 39-assist performance was a down year for the 29-year-old, who has averaged 24 goals and 43 assists during his four years in red, white, and blue. 

Strome’s main value doesn’t always show up on the scoresheet. He has become one of the best faceoff men in the NHL, steadily improving his faceoff percentage from 48.8% to a career-high 58.2% last season during his time in Washington, according to Fox Sports. His 777 wins in 1,334 attempts in 2025-26 represented the best win rate of any player with more than 1150+ faceoffs. Overall, he finished ninth in faceoff win percentage.

Strome has two years remaining on a team-friendly five-year, $25 million contract extension signed in February 2023. According to Sportrac, he is the 94th-highest-paid center, as contracts across the league skyrocket at the position.

Strome also becomes a valuable trade chip on an expiring deal next season if he doesn’t work out an extension before then. However, a move away from Washington, D.C., would be a bit surprising given how Patrick has continued to extend his top performers during his tenure, including the next contract on our list.  

Logan Thompson’s Contract Is a Bargain Given His Performance for Capitals 

The 29-year-old goalie earned a six-year, $35 million contract extension in January 2025 after a brilliant opening few months with the Capitals. Thompson is the 19th-highest-paid netminder in the league entering the 2026-27 season, per Sportrac. That’s not bad for a back-to-back 30-game winner with a 2.46 goals-against average (GAA) and a .911 save percentage (SV%) over two seasons since arriving in an offseason trade with the Vegas Golden Knights in June 2024. 

Younger goalies like the Minnesota Wild’s Filip Gustavsson ($6.8 million AAV)  and Calgary Flames’ Dustin Wolf ($7.5 million AAV) have already surged past the $5.8 million AAV Thompson earns. With five years remaining, this is already a sweet deal for Washington.

That value should only improve as the salary cap continues to rise from $104 million this fall to approximately $113.5 million for the 2027-28 season and a projected $123 million by the 2028-29 campaign via projections from player agent Allan Walsh on social media in March 2026:

While Ovechkin’s contract is a year-to-year arrangement intended to provide another shot at lifting Lord Stanley’s Cup, Strome and Thompson’s contracts have significant value for the Capitals, given their positions and how they are compensated relative to their peers. If Washington expects to soar back to the top of the Metropolitan Division in 2026-27, it will likely be behind the contributions from three of the most team-friendly contracts in the NHL.