Washington Capitals re-sign Conor Sheary, potentially exposing TJ Oshie to expansion draft

The Washington Capitals made an enlightening decision today when they signed Conor Sheary to a two-year extension worth $3 million. 

With the Seattle Kraken expansion draft coming up this summer, teams are starting to make decisions that hint what they’re going to do. The Washington Capitals made such a decision by re-signing surprising success Conor Sheary to a two-year deal worth $3 million. This deal carries a $1.5 million cap hit.

Sheary signed with the Capitals before this season and has earned himself a constant spot in the Caps lineup. Before the addition of Anthony Mantha, he was sometimes on the second forward line, but the addition of Mantha should cement Sheary’s spot on Washington’s third line. In 40 games this season, Sheary has 19 points (11 goals and eight assists). Considering they signed him for just $735,000, he’s been an outstanding bargain for them.

$1.5 million is a pretty reasonable price for Sheary. He’s proven he’s at worst an effective top-nine forward. And in a pinch, Sheary can fill in on the second line. Overall, it’s hard to hate this deal if you’re a Capitals fan. But there’s more to this deal than meets the eye.

Could T.J. Oshie be exposed to the Seattle Kraken?

Teams will have two protection options available to them.

1. Seven forwards, three defensemen, one goalie
2. Eight total skaters, one goalie

The Capitals are unquestionably going to go with the first option because they have more forwards worth protecting than defensemen. One can assume the Capitals will protect Sheary since they just signed him to an extension. They need inexpensive, reliable forwards and that’s precisely what Sheary is.

With Sheary protected, though, the Capitals suddenly have a decision to make — should they expose T.J. Oshie to the Seattle Kraken?

Forwards*: Nicklas Backstrom, Evgeny Kuznetsov, Anthony Mantha, Tom Wilson, Lars Eller, Conor Sheary, Daniel Sprong/T.J. Oshie

*Captain Alex Ovechkin will most likely sign an extension after the expansion draft

This has absolutely nothing to do with production, at least on Oshie’s end. He has been his usual productive self this season, putting up 34 points in 42 games. However, Sprong has been surprisingly productive himself with 14 points in 31 games. Plus he’s signed for next season at just $725,000.

Oshie, however, is signed for four more years after this one with a $5.75 million cap hit. With Ovechkin’s extension and Ilya Samsonov needing a new contract, the Capitals need cap space. Getting rid of Oshie’s contract would be an easy way to create cap space. True, there are other options like Brenden Dillon or Justin Schultz. But Oshie would probably be the most tempting option for the Kraken.

The Kraken will be under pressure to have immediate success. If they want to copy the Golden Knights’ strategy, not only will they have to take advantage of other teams, they’ll have to build a strong culture. Oshie has “captain” written all over him. Plus he’s from the state of Washington. A local boy coming back home to serve as the first captain of the Seattle Kraken? Not even Disney could create a better script.

Sheary’s signing is a good one for the Capitals. It’s also a very telling one and it could mean Oshie will be exposed to the Kraken.