The Washington Capitals will head into the 2025-26 NHL season looking to build off their first-place finish in the Eastern Conference this past year and improve on their second-round playoff exit. To do so, the team has already made a few small moves this offseason, but could still be in the market for something bigger.
Capitals captain Alex Ovechkin was directly questioned about players from a divisional rival who would exactly match that level of move after playing in the “Match of the Year” charity game on Sunday.
“If Washington makes trades and Evgeni Malkin or Sidney Crosby come to you, will that increase your chances of winning the Stanley Cup?” Match TV’s Pavel Lysenkov asked.
“If this happens, it would be wonderful,” Ovechkin replied. “If not, we will fight on our own.”
While the question sounds preposterous, both Malkin and Crosby, who have grown very friendly with Ovechkin over the years, have seen their names come up in trade rumors since the end of the 2024-25 season. The Penguins have missed the playoffs three straight years, and general manager Kyle Dubas seems committed to a teardown of the club’s roster ahead of a complete rebuild.
Malkin, 38, is reportedly set to play his final season with the Penguins next year, as Pittsburgh does not plan to offer him another contract after his current deal expires following the 2025-26 campaign. The 7-time NHL All-Star will make $6.1 million against the salary cap in his final year after recording 50 points (16g, 34a) in 68 games this past season.
According to RG Media’s James Murphy, an NHL source revealed in June their belief that the Penguins will eventually trade Malkin, but not before the season begins. In doing so, the Penguins would be able to recoup value for the legendary centerman before losing him for nothing next summer.
Crosby, 37, is coming off his third straight season of 90-plus points, recording 91 (33g, 58a) in 80 games during the 2024-25 campaign. Next season will be the first of the two-year, $17.4 million ($8.7M AAV) extension he signed with the Penguins last September.
The club’s captain and one of the greatest players in hockey history hasn’t indicated a desire to be traded so that he can compete for a fourth Stanley Cup, but many believe he wouldn’t enjoy playing for a bottom-feeding Penguins team late in his career.
“I am now more in the belief that Sidney Crosby will be traded,” Sportsnet’s Nick Kypreos said earlier this month. “If [the Penguins] are really bad, the likelihood he’s traded after the Olympics grows.”
“I’ve wondered about that. I completely agree with you,” hockey insider Elliotte Friedman added. “The only one thing people argue with me about is, he’s such a creature of habit, do you want to trade him in-season?”
While theoretically possible, a trade of either player to the Capitals would have several significant roadblocks. The Penguins would likely never want to deal either of the two franchise legends to a rival like the Caps, especially considering how closely the two sides have fought for nearly two decades now.
Malkin and Crosby have full no-movement clauses in their contracts, meaning they cannot be traded to any team without the Penguins first getting their approval. Both players have previously said they would only like to play for the Penguins in the NHL.
The Capitals are reportedly searching for another highly skilled forward, but GM Chris Patrick has made it clear that they’d like the player to fit the organization’s recent youth movement. Malkin and Crosby are both older than every player on the Capitals’ roster, except for Ovechkin.
So, while the Capitals do have the top prospects and first-round picks in the next three drafts to facilitate a bigger trade, it’s unlikely that trade will ever feature Malkin or Crosby.