The Washington Capitals kept one of the best players franchise history in the fold for the foreseeable future, re-signing Nicklas Backstrom to a five-year, $46 million contract. Backstrom, 32, would have become an unrestricted free agent at the end of the season. He will make an average of $9.2 million per season over the next half-decade.
The Swedish center made his desire to rejoin the team manifest and has been negotiating with the Caps without an agent. The move likely means goaltender Braden Holtby is out the door the end of the season without a significant reshuffle of the roster due to salary cap constraints.
Backstrom has played for the Capitals since 2007, joining the organization after being drafted by them fourth overall pick in 2006. Along with captain Alex Ovechkin, Backstrom has formed the core of the Capitals for over a dozen years and has led the team in assists seven of the last 12 years. Backstrom (908) and Ovechkin (1,255) are Washington’s all-time points leaders. Backstrom has the most assists in franchise history with 668.
Breakdown of Nicklas Backstrom contract:— Pierre LeBrun (@PierreVLeBrun) January 14, 2020
Year 1, $6 M signing bonus and $6 M salary
Year 2, $5 M SB and $5 M salary
Year 3, $3 M SB and $3 M salary
Year 4, $5 M SB and $5 M salary
Year 5, $6 M SB and $2 M salary
So $25 M total in signing bonus money
Again, the AAV is $9.2 M