There should be an honest question about why this move didn’t happen sooner. Alexeyev has registered zero points in five games with Washington this season, averaging 13:13 of ice time per game, with his last contest coming on November 8th. Assigning him on a conditioning loan allows Alexeyev two weeks in the AHL without requiring waivers, although he does have to sign off on the assignment.

It would be difficult for the Capitals to find a better situation for Alexeyev. The Bears are again one of the top teams in the American Hockey League standings with a 31-14-5-0 record in 50 games played, just six points back of the league-leading Rochester Americans with three games in hand. Hershey could create quite the formidable duo on defense should they pair Alexeyev with Ethan Bear, who’s scored eight goals and 33 points in 46 games this season.

Due to a relatively healthy blue line, Washington hasn’t needed Alexeyev much this season. Still, even when their defensive core sustained a few injuries, the Capitals deployed veteran Dylan McIlrath more than the St. Petersburg, Russia native. Neither defenseman has played all that well in limited action, leading to speculation that the Capitals could add a more consistent depth option at the trade deadline.

Throughout his career, Alexeyev has scored one goal and eight points in 77 games for Washington since debuting in the 2021-22 season. He’s been relatively physical over that stretch with 117 blocked shots and 88 hits but still has a career Expected +/- of -5.7, according to Hockey Reference.

He’s understandably been more influential at the AHL level, scoring six goals and 44 assists in 142 contests with the Bears with a +26 rating. Alexeyev can play six games on the conditioning loan for AHL Hershey should he stay for the maximum of two weeks.

“Their main goal seems to be achieving balance in finding ways to improve the team while not tinkering too much with a team that has played so well all season and a group that trusts and plays for each other,” LeBrun wrote. “That may sound a bit corny, but one thing the Caps have learned over the years is not to overextend themselves at the trade deadline. There’s a feeling within the organization that there were some years when they were ’all-in’ last decade that they added too much and upset the apple cart.”

Yet Washington’s roster has forced its front office into making at least one pickup of some significance. A major offseason retool has yielded their best regular season since winning the Presidents’ Trophy in 2016-17, on pace for 117 points and the Metropolitan Division title all but secured.

While a forward upgrade may not seem like it should be the top priority for a team that leads the league in goals per game (3.63), it’s the most apparent need on paper. The Caps’ defense has performed well, ranking 11th in the league with 27.4 shots against per game, and Logan Thompson has checked in as a legitimate challenger to the Jets’ Connor Hellebuyck for the Vezina Trophy between the pipes with Charlie Lindgren as a capable No. 2 option. There’s also not much flexibility on that defense core – all of their six regular blue-liners make at least $2.675MM against the cap – not exactly the kind of salary a cap-strapped Washington club can afford to have in the press box. A cheap upgrade on extras Alexander Alexeyev and Dylan McIlrath may be in the cards, though.

Nonetheless, the Caps’ lack of significant financial flexibility ($3.65MM in space on deadline day, per PuckPedia) and overall roster construction will inform the type of player they go after. As LeBrun notes, they also want to have some room for 2023 No. 8 overall pick Ryan Leonard, who’s tracking to turn pro following his sophomore season at Boston College. The 20-year-old center/winger is amid a 27-goal, 42-point campaign through 31 showings.

If they’re looking for a piece to slot into the third line, a physical edge will presumably be more desirable than a scoring touch. They don’t need any help putting the puck in the net – even AHL call-up Ethen Frank is helping out with 4-2–6 through his first 18 NHL games in a third-line role. There’s undoubtedly a playoff upgrade to be had on the 5’11” late-blooming 27-year-old, though. Veteran Lars Eller may be overtaxed as a No. 3 center with 6-6–12 in 40 games since being re-acquired from the Penguins in November, but he’s relieved by minute-munching fourth-line pivot Nic Dowd (who’s tracking for a career-high 29 points).

That leaves checking wingers like Seattle’s Brandon Tanev and Boston’s Trent Frederic as some of the more obvious targets. Both carry cap hits under the Caps’ available space, so they’d be feasible without retention or a roster player heading the other way. Pending Canadiens UFA Joel Armia is likely out there as a defensively responsible option, too.

Hopes are as high as they could be in Washington as the Trade Deadline nears. The Capitals have been on top of the Metropolitan Division since mid-December with no signs of slowing down. Washington posted a 4-1-2 record and plus-11 goal-differential in February, with one game left in the month. Their success is spearheaded by captain Alex Ovechkin’s pursuit of Wayne Gretzky’s career goals record and backed by fantastic summer additions. After an incredibly fruitful off-season, this Deadline will be rookie general manager Chris Patrick’s first chance to carry the hot-hand into the season.

Record

38-12-8, 1st in the Metropolitan Division.

Deadline Status

Budget Buyer

Deadline Cap Space

$3.65MM on deadline day, 0/3 retention spots used, 47/50 contract slots used, per PuckPedia.

Upcoming Draft Picks

2025: WAS 1st, BOS 2nd, WAS 2nd, CAR 3rd, WAS 4th, WAS 5th
2026: WAS 1st, WAS 2nd, VGK 4th, WAS 4th, WAS 5th, WAS 6th, WAS 7th

Trade Chips

The Capitals have found fantastic chemistry at the top of their lineup, and will base their deadline around not stirring the pot too much because of it. Most of the Capitals trade assets sit down their depth chart. The group is headlined by former first-round draft pick Hendrix Lapierre, who landed in the minor-leagues at the start of the new year after recording just eight assists in 27 NHL games. He’s in the midst of a slumping season after posting 22 points in 51 games as an NHL rookie last year. But Lapierre has been routinely effective in the minor-leagues, with 17 points in 21 games last season and 13 points in 15 games this year. He was a top young prospect, and earned a first-round selection despite multiple injuries in his age-17 and age-18 seasons. Lapierre has untapped upside that could make him enticing enough to base a larger buy around.

Young defenseman Alexander Alexeyev finds himself in a similar spot to Lapierre. He’s spent the year as Washington’s seventh-man, stepping into just five games and recording no scoring and a minus-four. Also a former first-round pick, Alexeyev punched into 71 games over the last two seasons – but hasn’t scored more than five points in a single year. He’s a six-foot-four, 213-pound defender with a long reach and stout control of the defensive end that, like Lapierre, could be just enough to garner the interest of a deadline seller.

Aside from the pair of youngsters on the lineup fringe, the Capitals may lack the assets to make a big move. Veteran centerman Lars Eller seems to be in the right rut for a move, with just 12 points in 39 games in Washington – but the Capitals aren’t likely to garner more than the third and fifth round draft picks they traded for him in November. Both third-line forward Andrew Mangiapane and third-pair defender Trevor van Riemsdyk have played strong enough to earn interest of their own, but the Capitals would likely be hard-pressed to move functioning cogs in the midst of another hot streak. Their deadline will be a balancing act between preparing for the playoffs, and not rocking the boat – as they try to maintain momentum that could very well land them the President’s Trophy.

Team Needs

1) Impactful Bottom-Six Center – Eller has averaged 12:28 in ice time this season, while holding a firm grip on third-line center and second-unit penalty killing duties. He’s performed well enough to stay put, but the lack of a driver on the third-line could be Washington’s downfall in the postseason. Finding a difference maker to couple with Eller and Nic Dowd in the bottom-six is an achievable and potentially defining move for Washington to pursue. They’ll have plenty of options on the open market. The New York Islanders finally seem poised to bank on Brock Nelson’s late-career performances. Nelson has 15 goals and 32 points in 52 games this season, and made Team USA’s starting lineup at the recent 4-Nations tournament. Should he prove too old or two slow, Washington could find a performer in the midst of his prime in Chicago Blackhawks center Ryan Donato. Donato is having a career year, with 19 goals and 39 points in 56 games on one of the league’s lowest-scoring offenses. He’s a reasonable upside bet that shouldn’t come at a rich price – an ideal match for the asset-strapped Capitals. Other options could include Montreal power-forward Jake Evans, Boston enforcer Trent Frederic, or Colorado upside-bet Casey Mittelstadt.

2) Depth Wingers – The Capitals are receiving fantastic efforts from their depth wingers. Mangiapane, Taylor Raddysh, and Brandon Duhaime have performed well enough to hold onto their roles, and Jakub Vrana and Ethen Frank have shown flashes of scoring in their limited minutes. But the Capitals lack a truly binding piece down their flanks. Bruins winger Justin Brazeau could give the Capitals a bit more grit and well-rounded offense at a minimal acquisition cost. The Capitals could also find a reasonably priced upside bet in Toronto shooter Nicholas Robertson. Brazeau has 20 points, split evenly, in 54 games; while Robertson has 11 goals and 16 points in 50 games. Neither players would be particularly thrilling additions, but could give Washington helpful variety as they hope for an extended run to their season.

Friday: The Capitals placed defenseman Hardy Haman Aktell on unconditional waivers Friday as a precursor to a mutual contract termination, Stephen Whyno of the Associated Press reports. He will become an unrestricted free agent tomorrow if he clears and will likely return to his native Sweden.

Washington signed Haman Aktell, 26, to an entry-level contract out of the Swedish Hockey League’s Växjö Lakers in the 2023 offseason. The 6’4″ lefty was previously a fourth-round pick by the Predators in 2016 but never signed with the club, letting his signing rights lapse in 2020. He put himself on NHL teams’ radars with a breakout 27-assist, 36-point campaign in 51 games for Växjö in 2022-23, tying for second on the team in scoring en route to an SHL championship.

While a well-rounded player in Europe, his lanky 198-lb frame put him at a bit of a disadvantage in North America. He didn’t quite pop as the Capitals hoped in the AHL, posting just 11 points (2 G, 9 A) in 55 games for Hershey last year. But a rash of injuries to their NHL defense corps meant he was called upon to make his NHL debut early in the season, skating in six contests in October and November. He recorded an assist and a minus-two rating, recording five shots and 11 hits while averaging a minimal 10:38 per game. His possession numbers were promising – a 52.5 CF% and a +0.6 expected rating at even strength – but was never added back to the roster aside from a late-season emergency summons.

A restricted free agent last summer, the Capitals opted to keep Haman Aktell around on a two-way contract. He cleared waivers to begin the season and returned to Hershey, where he’s yet to score through 27 games and has seen a diminished role. He did have nine assists and a plus-three rating, but with a lack of NHL opportunity ahead of him, there understandably wasn’t any mutual interest in extending their relationship.

Ending Haman Aktell’s contract now allows him more time to pursue options overseas, potentially finishing the 2024-25 season with a European club. It doesn’t have any cap impact for Washington since he was a league-minimum player in the minors, but it does save a small amount of prorated actual cash. He was earning a $350K salary while in the AHL.

The Caps will have three open contract slots after he clears waivers tomorrow.

If past reports indicate, we’ll likely see the official word on a Lindgren extension within the next week. Things moved quickly after Pierre LeBrun of TSN and The Athletic reported last Friday that the Caps were increasing their efforts to reach a deal with Thompson. LeBrun said earlier in the month that the Capitals were wary of disrupting team chemistry by leaving one without an extension for too long, so it’s not surprising that Washington general manager Chris Patrick is quickly looking to get business wrapped up with Lindgren.

Lindgren is now set to earn more in a single season on his next deal than the total value of any of his previous NHL contracts, putting him in the same company as Thompson. Both began their professional careers as undrafted free-agent signings, but it took much longer for Lindgren to establish himself as an everyday NHL option. Now 31, Lindgren was a standout netminder at St. Cloud State University over a three-year run from 2013 to 2016 and landed an entry-level contract with the Canadiens as his junior year ended.

The Minnesota native made his NHL debut for the Habs to close out the year before spending most of the next five seasons as their No. 3 option, logging significant time in the AHL for their affiliates in St. John’s and Laval. His numbers started strong – he put up a .914 SV% in 48 games in his first AHL season and earned an All-Star Game appearance as a rookie. Things quickly went downhill from there, though. Lindgren failed to record a save percentage above .900 in each of the subsequent four campaigns, at least at the minor-league level. He’d gotten call-ups to Montreal every year and had a decent but unimpressive for the time .907 SV% and 3.00 GAA in 24 starts, paired with a 10-12-2 record over parts of five seasons.

Lindgren spent most of the shortened 2020-21 campaign on the Canadiens’ taxi squad, only making three AHL appearances for Laval. But after failing to land an everyday NHL role over the life of a three-year, $2.25MM extension he signed in 2018, he understandably opted not to return to Montreal upon reaching unrestricted free agency that summer. He headed west on his next deal, landing a two-way offer from the Blues on the open market.

St. Louis breathed new life into Lindgren’s game. It was more the organization at large – he spent most of his time on assignment to their AHL affiliate in Springfield, Massachusetts, where he exploded as one of the league’s top netminders with a 2.21 GAA, .925 SV%, three shutouts, and a 24-7-1 record in 34 games. He was also lights out in his few call-ups to the Blues, allowing just five goals on 118 shots (.958 SV%) in four starts and one relief appearance while compiling a spotless 5-0-0 record.

That led to renewed optimism that Lindgren could be an everyday NHL option, and the Capitals gave him a three-year, $3.3MM commitment to prove it in Washington. His first year was unimpressive, posting a .899 SV% and 3.05 GAA in 31 appearances as Darcy Kuemper’s backup as the Caps missed the playoffs for the second time since 2007. However, the 2023-24 season amounted to Lindgren’s big break. He stole the starter’s crease from Kuemper midseason, tying for the league lead with six shutouts and complementing that with a .911 SV% and 2.67 GAA in 48 games. He finished eighth in Vezina Trophy voting and 12th in Hart Trophy voting as Washington snuck into the playoffs. Although they were quickly dispatched in four games by the Presidents’ Trophy-winning Rangers, he started all of them over Kuemper, who had won a Stanley Cup with the Avalanche two years prior.

While Lindgren won’t be in Vezina consideration this season after firmly slipping behind Thompson on the depth chart, he’s still been an above-average tandem option. His .904 SV% and 2.51 GAA through 23 games are the exact numbers you’d expect from the median netminder given the defense in front of him, per MoneyPuck. Last season’s numbers were more than likely a flash in the pan. Still, he’s given the Capitals enough sample to prove he can be a reliable 1B option with Thompson, who’s quietly put up numbers akin to some of the league’s most highly-touted netminders over the last three seasons.

The Caps will have their goalies locked in for the next few seasons at a combined cap hit in the $9MM range, less than what elite established starters are beginning to earn on their own per season. That’s good business from Patrick as he now turns his attention toward the team’s extensive slate of other pending UFAs, including defenseman Jakob Chychrun and reliable depth center Nic Dowd.

Simpson entered professional hockey in the 1986 NHL Draft when the Washington Capitals selected him with the 60th overall pick. Unfortunately, besides two playoff games as a backup netminder, Simpson never played in the NHL with the Capitals and retired relatively quickly after the 1990-91 season.

He remained with the Capitals organization as a color commentator for several years while pursuing his education at Georgetown University. It was not until the 1993-94 season that Simpson transitioned into Washington’s front office to become a professional scout.

The Capitals promoted Simpson to director of hockey operations ahead of the 1997-98 season. Alongside general manager George McPhee, Simpson helped steer Washington to their first Stanley Cup Final appearance in franchise history that spring.

Simpson continued as the Capitals’ director of hockey operations until the 2003-04 season when he decided to move closer to his hometown. He spent four years as a professional scout for the Toronto Maple Leafs before ending his tenure in the front office.

After spending many years away from his hometown of Gloucester, Ontario, Simpson joined TSN in 2012 as the co-host of “The Drive” radio show and as an on-air personality for Ottawa’s post-game broadcasts. In 2013, he transitioned to a new show called “Mornings” and continued to collaborate closely with the Senators organization.

In 2023, Bell Media, the controlling owner of TSN, ended its contract with Simpson. However, he remained a significant figure in Ottawa and with the Senators until the dreadful news broke this morning.

We at Pro Hockey Rumors send our condolences to Simpson’s family, friends, and peers.

Cousins has been a reliable bottom-six forward for the Senators, appearing in 46 of the team’s 48 games and averaging just over 12 minutes of ice time prior to his injury. He has five goals and 13 points on the year, just shy of the 15 points he managed in 69 games with the Florida Panthers last season. Cousins continues to sit off of his team’s special teams units – which should make his role a bit less of a headache to replace.

Since Cousins’ injury, top forward Joshua Norris has made his return to the Senators lineup. That addition should fill their hole for the time being, with Adam Gaudette and Matthew Highmore securing routine roles on the fourth line. Ottawa also successfully passed winger Cole Reinhardt through waivers on Wednesday, which grants him a 30-day waiver exemption and gives Ottawa a movable extra forward. Reinhardt has two points, a goal and an assist through 12 games this season. They’re the first points of his career, in some of his first NHL games, though he made his NHL debut in the 2021-22 season. Reinhardt has since been a productive member of the AHL’s Belleville Senators. He leads that team in points-per-game this season, with 16 points in 13 games. Ottawa could also turn towards rookie Stephen Halliday – Belleville’s leading scorer with 27 points – should they need additional support over the next two months.

In other Senators news, defenseman Nick Jensen returned to the team’s practice in a full-contact jersey on Wednesday. Jensen has missed the team’s last two games with an undisclosed injury. His status for Ottawa’s Thursday matchup against the Washington Capitals is undetermined, but Jensen is expected to return soon, per Sportsnet’s Alex Adams. Jensen has 18 points in 48 games this season – the second-highest scoring pace of his 10-year career behind his 29 points in 77 games of the 2022-23 season.

Finally, star goaltender Linus Ullmark should return within the next few games, per Garrioch. Ullmark has missed the last 16 games with a back injury. He’s been an integral piece to the Senators’ lineup in his first year with the club, boasting a 12-7-2 record and .915 save percentage through 23 games this season. He’ll be a critical addition when he’s back to full health.

1:30 p.m: The Capitals are close to a multi-year extension with pending UFA netminder Logan Thompson, Kevin Weekes of ESPN reports Monday. It’s a six-year commitment with a price tag of $5.85MM per season, Elliotte Friedman of Sportsnet adds, working out to a total value of $35.1MM.

PuckPedia provided the breakdown of the contract as follows:

• Year 1: $2MM salary + $5MM signing bonus – 15-team no-trade clause
• Year 2: $4.85MM salary + $2MM signing bonus – 15-team no-trade clause
• Year 3: $1.5MM salary + $5MM signing bonus – 15-team no-trade clause
• Year 4: $3.5MM salary + $2MM signing bonus – 10-team no-trade clause
• Year 5: $3MM salary + $2MM signing bonus – 10-team no-trade clause
• Year 6: $2.25MM salary + $2MM signing bonus – 10-team no-trade clause

It’s a sizable commitment to the breakout 27-year-old, who’s quickly ramping up his case for his first career Vezina Trophy nomination. He’s broken away from Washington’s plan to alternate him and Charlie Lindgren between the pipes nightly, erupting for a .925 SV% and 2.09 GAA in 27 appearances with a near-spotless 22-2-3 record. Thompson earned seven straight starts earlier this month, allowing just eight goals on 179 shots.

Despite the tandem workload, Thompson has been among the Capitals’ most valuable players and ranks second in the league in goals saved above expected with 26.8, only slightly trailing Vezina favorite Connor Hellebuyck’s 27.5 mark, per MoneyPuck. It’s night and day compared to what Darcy Kuemper gave the Caps last year in a similar role, making the Washington front office’s decision to send him to Los Angeles for Pierre-Luc Dubois and give up a pair of third-rounders to snag Thompson from the Golden Knights one of the best of the summer.

As expected, the extension amounts to a stratospheric raise for Thompson, who will now earn more than twice per season than the entire value of his previous contract. He signed a team-friendly three-year, $2.3MM commitment with Vegas in January 2022 when he was beginning to emerge as an NHL option. During that time, he’s been arguably the most underpaid player in the league with a 68-29-11 record, .915 SV%, 2.53 GAA, and five shutouts in 110 games for the Knights and Caps over the life of the deal.

The raise is still jarring for a netminder who’s only started more than 40 games once in his career, but Thompson has already solidified his third consecutive 20-win season and will start north of 40 again this year, barring injury. Among the 29 goalies who have played more than 100 games since the beginning of the 2022-23 campaign, that .915 SV% ranks third – higher than clear-cut stars like Andrei Vasilevskiy, Ilya Sorokin, Igor Shesterkin, and Juuse Saros.

He’s now Washington’s present and future between the pipes as they look to end Alex Ovechkin’s career on a high note and keep the momentum going after he inevitably breaks the league’s all-time goals record. If he stays healthy, he should get the chance to also head into the playoffs as his team’s undisputed starter for the first time in his career.

Thompson’s deal runs through the 2030-31 campaign, after which he’ll be a UFA at age 34. The Caps now have $69.375MM tied up in 15 players for next season, not including pending UFAs Lindgren and top-four defenseman Jakob Chychrun. His $5.85MM cap hit will rank 15th among netminders next season as things stand.

Image courtesy of USA Today Sports.

Washington is aiming to have the soon-to-be 28-year-old signed, and off the market by the time the 4 Nations Face-Off rolls around in a few weeks, LeBrun wrote. Recent extensions for similarly-aged breakout netminders like the Avalanche’s Mackenzie Blackwood and the Kraken’s Joey Daccord mean the Caps are likely looking at a four-to-five-year commitment with an average annual value between $5MM and $5.5MM to retain his services – potentially even $6MM, Jamie McLennan of TSN told LeBrun.

That would be an astronomical range over Thompson’s current $767K cap hit, which he locked in when he signed a three-year, $2.3MM extension with the Golden Knights midway through his rookie 2021-22 campaign. The Caps needed a goalie last summer after they dealt Darcy Kuemper to the Kings in exchange for Pierre-Luc Dubois, and Thompson desired more playing time in his contract year after posting a .908 SV% in a career-high 42 starts and four relief appearances in Vegas last year. Washington moved to acquire Thompson on the second day of the 2024 draft, sending a pair of third-round picks Vegas’ way to provide an economical tandem partner for last year’s breakout option, Charlie Lindgren.

While Lindgren and Thompson rotated starts through the beginning of the season, Thompson has emerged as the bona fide 1A option for the upstart Caps. His sparkling 22-2-3 record in 26 games is backed up by a .925 SV%, which ranks third in the league among netminders with double-digit starts. Those 22 wins are also third in the league and are the most among goalies with under 30 starts, ahead of former teammate Adin Hill, who has 18 wins through 29 starts for the Knights.

Advanced statistics are also quite kind to Thompson, positioning him as the clear-cut runner-up to the Jets’ Connor Hellebuyck for the Vezina Trophy. His 26.8 goals saved above expected are just 0.4 short of Hellebuyck in nine fewer games, per MoneyPuck, good for a league-leading 1.00 GSAx/60.

Expecting Thompson to maintain this level of play over the life of an extension is unreasonable. However, unlike a contract comparable in Blackwood, he’s established a high floor for his play at the NHL level. His SV% never dipped below .908 during his time in Vegas, and his GSAx has never finished in the red.

Since Thompson established himself as a full-time NHL option, concerns have revolved around his ability to handle a more significant workload, which he’s now quieting with the Capitals. He started a run of seven straight contests before Lindgren recorded a shutout last night against the Kraken, posting a .955 SV% in that span and a 6-0-1 record. Two of those wins were shutouts in back-to-back games against the Ducks and Senators, and he allowed just eight goals total during the seven-game stretch.

LeBrun reported earlier in January that the Caps had started preliminary extension discussions with Thompson and Lindgren, another pending UFA. They took both conversations slowly to avoid upset team chemistry by extending one before the other. While Lindgren has still been above average with a .904 SV% and 2.53 GAA, he’s three years older than Thompson and has a more inconsistent NHL track record. Thompson’s recent dominant stretch with an increased workload has proven he’s the more valuable option to Washington in the long term.

“I think Thompson has put himself into the conversation of being a top-tier Canadian goaltender, as well,” McLennan said. “Right now, you’ve got to see it for what it’s worth. The Caps traded for him. He’s delivered for them. They obviously like him. And he’s in [the] wheelhouse of his prime and getting better. Goalies from 27-32 continue to get better with age.”

As things stand, Thompson is the unquestionable No. 1 option on the UFA market among goaltenders this summer. Names like Hill, Lindgren, Kevin Lankinen, and Ilya Samsonov would move to center stage after a potential extension is announced.