The Washington Capitals have emerged as a model franchise after finishing first in the Eastern Conference for the 2024–25 season. Rather than rebuilding following a disappointing 2022–23 campaign, the team retooled with NHL-ready talent and now finds themselves ahead of rivals like the Pittsburgh Penguins, who are entering a major transitional phase. With a new coach, Dan Muse, and key veterans potentially on the move, the Penguins are poised to embrace a full rebuild.

Pittsburgh is reportedly shopping nearly all players except Crosby, Malkin, and Letang, with Bryan Rust and Rickard Rakell drawing the most interest. General Manager Kyle Dubas may be positioning the team to target phenom Gavin McKenna in the 2026 draft, leveraging their cap space to acquire picks. Meanwhile, Malkin is expected to play his final season with the team in 2025–26, closing out an era while the franchise eyes its next chapter.

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The Washington Capitals saw strong production from their centers during the 2024–25 season, led by Dylan Strome’s breakout year. Strome posted a career-high 82 points (29 goals, 53 assists), proving to be a reliable and consistent top-line pivot. His playoff performance was equally impactful, notching 11 points in 10 games and leading the team in scoring during their first-round win over Montreal. Head coach Spencer Carbery praised his importance alongside stars like Ovechkin and Wilson, reinforcing Strome’s value since his acquisition in 2022.

Pierre-Luc Dubois contributed a career-best 66 points while anchoring the second line and taking on tougher defensive assignments to support Strome. However, playoff struggles and high penalty totals raised concerns. Meanwhile, Nic Dowd excelled in a fourth-line shutdown role, setting career highs in goals and points while being a key penalty killer and faceoff specialist. Despite increased penalty minutes, Dowd’s leadership and defensive presence earned him a two-year contract extension, solidifying the Capitals’ center depth heading into next season.

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Alex Ovechkin wrapped up his 20th NHL season with another standout campaign, tallying 44 goals and 73 points in just 65 games, despite missing time with a broken leg. He finished eighth in Hart Trophy voting with one first-place vote, adding another accolade to a storied career in which he became the NHL’s all-time goals leader. Washington entered the playoffs as the Eastern Conference’s top seed, thanks in part to Ovechkin’s production.

Meanwhile, goaltender Logan Thompson had a breakout season in his Capitals debut, finishing fourth in Vezina Trophy voting with a 31-6-6 record and a .910 save percentage. He was rewarded mid-season with a six-year, $35.1 million extension. Off the ice, defenseman Alex Alexeyev was fined after a public intoxication arrest in May and remains a restricted free agent, leaving questions about his future with the team.

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The Washington Capitals are facing key decisions with four pending unrestricted free agents as July 1 approaches. Anthony Beauvillier, who impressed with his versatility after being acquired mid-season, could be the most likely to return—though younger players vying for roster spots may limit that possibility. Lars Eller, a franchise legend known for his 2018 Cup-winning goal, seems likely to move on as the team prioritizes youth and an upgrade at third-line center.

Depth forwards Taylor Raddysh and Andrew Mangiapane also appear on the way out. Raddysh, despite a solid season, was scratched down the stretch, while Mangiapane’s reliable two-way play may not be enough to earn a new deal amid Washington’s prospect push. The Capitals' offseason will be shaped by their decision to balance veteran presence with the development of young talent ready to break through.

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Welcome to the NHL Squad Show! Today our hosts Gil Martin (Locked On Islanders), Seth Toupal (Locked On Wild) and Tom Callahan (Locked On Mammoth) are here to talk about how the Panthers are outclassing the Oilers, as well as the coaching drama happening in Dallas!

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The latest Locked On Capitals dives into a surprising trade rumor involving Dallas Stars forward Jason Robertson. With Dallas facing cap pressure, GM Jim Nill is reportedly listening to offers for Robertson and Mason Marchment. Washington, with its cap space and strong prospect pool, could be in a position to make a bold move — possibly giving up a player like Andrew Cristall. Meanwhile, Marchment is seen as a possible rental option if a blockbuster doesn’t happen.

The episode also highlights T.J. Oshie’s emotional retirement and Tom Wilson’s heartfelt tribute, revealing their deep bond. In the final segment, the spotlight turns to the future with Caps prospects Andrew Cristall and Ilya Protas up for CHL honors after dominant junior seasons. The Capitals’ future looks bright with both players showing elite-level potential.

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T.J. Oshie officially announced his retirement from the NHL during an emotional speech at the Georgetown Waterfront, seven years to the day after celebrating the Capitals' Stanley Cup victory at the same location. Surrounded by teammates, family, and fans, Oshie reflected on his 16-year career with heartfelt gratitude and shared memories — from learning the game from his late father to battling injuries in his final seasons. As pages of his speech scattered in the wind, his humor and humility showed why he was so beloved.

Oshie played 1,010 games, recorded 695 points, and became a key piece of the Capitals’ Stanley Cup run in 2018. Known as a fierce competitor and consummate teammate, he pushed through chronic back injuries and even a broken hand during his final playoff games. His retirement marks the end of an era for Washington, closing the chapter on a core group that defined the team’s most successful years. Oshie’s legacy will be remembered not just in stats — but in heart, leadership, and character.

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The NHL is actively considering changes to its long-standing agreement with the CHL that restricts 18- and 19-year-old drafted players from playing professionally unless they’ve turned 20 or completed four CHL seasons. These proposed revisions could fast-track the development of elite prospects like Capitals draft picks Terik Parascak and Eriks Mateiko, as well as previously affected players like Hendrix Lapierre and Andrew Cristall. Both Parascak and Mateiko are signed and could become eligible to play in Hershey or even challenge for NHL time if the rules change.

Meanwhile, former Capitals center Evgeny Kuznetsov remains in the headlines after SKA St. Petersburg head coach Igor Larionov stated publicly that Kuznetsov’s decline began “about six years ago.” After an underwhelming season in the KHL, Kuznetsov’s contract was terminated, and he is now a free agent weighing both overseas and NHL options. In coaching news, the Dallas Stars fired Pete DeBoer following another Western Conference Final loss, and two coaches connected to Washington—Mitch Love and Todd Nelson—may be among the candidates to replace him.

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