The Washington Capitals aren't willing to pay the price to keep Alexander Ovechkin. At least not yet.
Sources say Caps GM George McPhee "insulted" Ovechkin by offering a five-year, $37.5-million (all terms US) deal. Ovechkin thumbed his nose at the offer.
It's believed Ovechkin, who fired agent Don Meehan and is representing himself, wants $9-$10 million a season. If the Caps won't ante up, Ovechkin will likely get his money in the form of a Group II free-agent offer next summer.
Sources say the Caps have held several meetings with Ovechkin to get him to sign on. He's willing to stay in Washington, but wants McPhee to make moves to improve the club.
This season, Ovechkin can make as much as $3.8 million with bonuses.
7.5 mil a year? If it is true, it is an insult. I told ya, the owner's business strategy is not to pay top $$ to any player. Whatever... There are bunch of GM's who will be willing to give more...
Spector's Note: Regardless of whatever the Caps might've offered Ovechkin don't expect him to still be unsigned by July 1st. He wants to stay in Washington, the Capitals want to keep him, and there's still seven months until July 1st to get him re-signed and prevent a rival club from tendering him an offer sheet.
"Regardless of whatever the Caps might've offered?" I don't think so. You don't start negotiations with insult.