As a part of the new CBA settlement, groups don’t have to attend till the beginning of the 2020-21 league 12 months (slated for a while in November) to start engaged on contract extensions for 2021 free brokers. While they’re eligible to take action, the Capitals have determined that they won’t be doing so with winger Alex Ovechkin, Washington GM Brian MacLellan instructed reporters, together with NHL.com’s Tracey Myers.
The 34-year-old might be getting into the ultimate season of his 13-year, $124 million contract subsequent season. At the time, the deal appeared fairly grandiose on the time because it got here near the utmost 20 % of the cap, which is as excessive as a deal can go. However, with the Upper Limit of the cap growing considerably since then (from $56.7 million in 2008 when the pact was signed to $81.5 million this season), the contract has even appeared like a cut price at instances.
There’s no denying that Ovechkin is an elite purpose scorer, and when all is claimed and completed, the longer term first-ballot Hall of Famer may really maintain the NHL report. He sits eighth all-time with 706 tallies and whereas he’s nonetheless 190 shy of Wayne Gretzky’s report, he nonetheless has a number of years left in him. It’s not fully loopy to assume that the size of his subsequent contract will in the end decide whether or not or not he will get that high spot.
Ovechkin has led the league in objectives for 3 straight seasons, scoring at the least 48 in every of them. While it’s truthful to say that he’ll decelerate finally, it could appear as if he has at the least a number of years left as a high scorer within the sport. Undeniably, there might be loads of curiosity in him if he was to make it to the open market in 2021.
Having stated that, contemplating Ovechkin’s dedication to the Capitals group and the mutual admiration, it appears possible that they’ll finally have the ability to work out a new contract earlier than he will get to free company. Accordingly, the choice to attend till after the postseason looks as if a clever one.
The huge query then turns into how lengthy the deal might be as at this level; it’s affordable to assume that Ovechkin’s cap hit on his subsequent contract might be across the present $9.5 million common annual worth. It might be a 35-plus deal, which makes it much less possible that an affordable 12 months or two is tacked on to attempt to artificially decrease the cap hit. There is a new provision within the CBA that takes away the 35-plus threat (Section 64 of the Memorandum of Understanding) however that applies provided that “(1) total compensation (Player Salary and Bonuses) that is either the same as or increases from one League Year to the immediately subsequent League Year, and (2) a Signing Bonus, if any, that is payable in the first year of the SPC only.” In different phrases, the dangers go away solely with a uniform wage with minimal signing bonuses, which takes away a number of the incentives to front-loading the contract.
That might be one of many components that MacLellan and Ovechkin’s camp contemplate over the approaching months. It might be a short time longer earlier than it will get completed however proper now, they’ll solely deal with Washington’s upcoming playoff run, which is able to unofficially get underway on Monday with the primary of three round-robin video games to find out postseason seeding.