The Washington Capitals (43-30-9) came down to Earth after a spectacular 2024-25 season. Last season, they were the best team in the Eastern Conference during the regular season, but the Carolina Hurricanes stunned them in the second round of the Stanley Cup Playoffs.
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This season, they earned that form at times, but far too often, they fell back into the mid-tier of teams. They went from the No. 2 offense in the NHL (286 goals for) to No. 15 (261). Logan Thompson was still a beast in net, but he had to carry the Capitals most nights, as Charlie Lindgren flopped as a backup. Now the Capitals have a potentially eventful offseason coming up.
Is this the end of the Alex Ovechkin era?

Alex Ovechkin is the best player in Capitals history already. He has the NHL record for goals, and even at age 40, he’s still producing. He led the team with 32 goals and 64 points in 82 games, and there’s a hope that Ovechkin could break 1,000 goals before everything is said and done.
However, Ovechkin’s contract expires after this season. It’s an awkward situation, with rumors of his retirement growing rampant. “I hope it’s not my last game,” Ovechkin said after the final game of the season. “I don’t know what’s going to happen. So, we’ll see.”
He has made it clear he wants to return to the Capitals. In his exit interview with reporters, he discussed what he wanted to hear from Capitals GM Chris Patrick when they met to discuss his future.
It seems like it’s in Patrick’s hands to negotiate a contract with Ovechkin. Hopefully, the long-tenured Capital winger can agree on a deal to ride out his final seasons in the NHL with Washington.
How do the Capitals replace John Carlson?

Unfortunately, John Carlson didn’t get the same treatment as Alex Ovechkin. The Capitals shipped off Carlson to the Anaheim Ducks for a first-round pick, and while it appears to be a win-win deal for both sides, it leaves the Capitals with a hole on their right side.
All things considered, they don’t have a ton of weaknesses on their defense outside of that. Jakob Chychryn had a career season in 2025, and their defensive core is still one of the best in the NHL. However, they still might need a little bit of help on the right side.
Darren Raddysh should be their top target. The Tampa Bay Lightning defenseman had a breakout season, with 22 goals and 70 points in 73 games, and while some might find that unsustainable, the Capitals would be a great fit for him.
They could also just re-sign John Carlson if he hits the open market. However, considering his great fit with the Anaheim Ducks, I doubt the Ducks let him go to free agency.
What does the Connor McMichael extension look like?

As it stands, the Capitals have a lot of budding young talent on their roster. They’ve been able to draft incredibly well, to the point that even with most of the core from the 2018 Stanley Cup, they’ve been able to stay in contention for a long time.
However, they might need to give a pay raise to one member of that core: Connor McMichael. He’s evolved into a great two-way second-line center who can earn minutes on the first line if need be. Even though he decreased his goal output from 26 to 14 this season, he is still a reliable playmaker and great in his own zone.
Safe to say, he’s going to want a massive chunk of change, especially with arbitration eligibility. I imagine he’ll probably gun for $7 million, but it’ll probably be a little less than that. AFP analytics suggest he could get around that number if the Capitals sign him to a long-term deal.
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