Washington Capitals sign Nicklas Backstrom to five-year extension

The Washington Capitals have re-signed Nicklas Backstrom to a five-year extension worth $46 million, ensuring he will spend at least the next half-decade in DC.

The Washington Capitals have announced they have re-signed star center Nicklas Backstrom to a five-year extension worth $46 million. Backstrom negotiated this deal himself, as he doesn’t have an agent. The deal carries an average annual value of $9.2 million and will begin at the start of the 2020-21 season.

This contract ensures Backstrom will stay with the Capitals, as he was supposed to become a UFA for the first time in his career on July 1. It also all but guarantees he will spend at least the next half-decade in Washington. There is no word yet on if there are any no-trade clauses or no-movement clauses involved in the extension.

Backstrom is coming off one of the best bargain deals in hockey, during which he had a $6.7 million cap hit over 10 years. This likely factored into negotiations, as he’s getting quite the raise to a $9.2 million cap hit.

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At surface value, this deal might seem a bit expensive. After all, Backstrom is 32 years old. However, some context is required. First of all, Backstrom’s new deal currently carries a cap hit percentage (percentage of a team’s salary cap) of 11.3%. What’s fascinating is that was the same cap hit percentage his current deal had back in 2008 when he signed it.

Secondly, there’s a new TV deal coming for the NHL. Plus another expansion team in Seattle. Those two factors should create a higher salary cap in the very near future. If this happens as it is expected to, Backstrom’s deal suddenly looks a lot better.

This deal could create some cap concerns down the line, however. Especially with Ovechkin and Jakub Vrana both needing new deals in the near future. However, the Seattle expansion draft could allow the Capitals the opportunity to get rid of an expensive deal.

Backstrom has been the Robin to Alex Ovechkin‘s Batman for his entire career. He’s perfectly content in that role and it’s a role he has played beautifully. Capitals fans should be ecstatic Backstrom will be reprising that role for the next five years.