The Washington Capitals have taken care of a significant piece of business by re-signing Nicklas Backstrom to a five-year contract extension. Backstrom negotiated the deal himself, acting as his own agent and he seems to have done fairly well for himself. The contract is worth a total of $46 million over the five years, clocking in at around $9.2 million on the cap starting next season.
The full breakdown is as follows:
- 2020-21: $6.0MM salary + $6.0MM signing bonus
- 2021-22: $5.0MM salary + $5.0MM signing bonus
- 2022-23: $3.0MM salary + $3.0MM signing bonus
- 2023-24: $5.0MM salary + $5.0MM signing bonus
- 2024-25: $2.0MM salary + $6.0MM signing bonus
Pierre LeBrun also notes the deal includes a full no-movement clause in the first three years and a 15-team no-trade clause in the final two.
Backstrom extending with the team comes as no surprise. It was public knowledge he wanted to stay, it was just a matter of hammering out the details. Now 32, Backstrom has had six consecutive seasons of at least 70 points and should reach that mark again this season. The Capitals would have been silly to let him leave.
The deal doesn’t come without a little bit of risk though. At 32, signing a five-year deal with a player that will see his contract end at the age of 37 suggests it could be very difficult to value out of the end of the contract.
Interesting Stats on Backstrom’s New Numbers
Backstrom currently makes $6.7 million per season but interestingly, his new salary takes up the same percentage on the team’s cap as the old one did. With rising prices on player’s salaries, it suggests both Backstrom and the Capitals figured he was worth the same to the franchise as he’s always been.
Braden Holtby Next?
With the Backstrom deal now done, will the Capitals focus their attention on a Braden Holtby extension? He too is scheduled to become a free agent at the end of the season but there’s less confidence the Caps see him as a long-term solution, especially with Ilya Samsonov waiting to take over the starting role permanently.
And, Holtby won’t be without interested teams in the summer. There will certainly be temptation to see what’s out there even if Holtby has no desire to leave the organization.