Charlie Klein
The Washington Capitals announced today that they have signed star center Niklas Backstrom to a ten-year, $67 million dollar contract extension. Backstrom, 22, will remain with the team as they attempt to build for another Stanely Cup push in the 2010/2011 season.
According to the Washington Post's Tarik El-Bashir Backstrom's money per season increases over time, from six million in the first four seasons to eight million in the final year of the contract, at which point Backstrom will be 32.
Backstrom's contract extension is part of the larger committment by the franchise to keep their young talent at Verizon Center. Alexander Ovechkin, the left wing on Backstrom's line, still has 11 years remaining on his 13-year, $124 million deal.
It is a dramatic pay rise for Backstrom, but it is a deserved one. The Swedish playmaker notched 101 points playing with Ovechkin and Mike Knuble, who compared Backstrom to Peter Forsberg during the season. Knuble had a fantastic season playing with Backstrom and Ovechkin, scoring 29 goals in his first season with the Capitals.
How this contract impacts the Capitals' attempt to re-sign Alexander Semin remains to be seen. Given that the NHL is a salary cap league, it will be difficult for the Capitals to justify having three players paid around seven million dollars a season for the next five seasons at least.
Ultimately I expect the Caps to hang onto Semin through the last year of his deal and hope that they can entice him to stay for less money. I don't think Semin will be able to resist an opportunity to shine independent of the other Russian (Ovechkin) on his own with a bigger pay check. Unless the Capitals get a ridiculous trade offer from a desperate team, Semin will finish 2010/2011 as a Cap.
Whatever happens with the Semin situation, the Capitals have set themselves up to have one of the best lines in the NHL for the next ten years by locking up Niklas Backstrom and Alex Ovechkin.
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