The Washington Capitals signed forward Ryan Leonard to an eight-year extension averaging $10.5 million annually. Leonard, 21, is entering the final season of his entry-level contract at $950,000 before the new deal begins in 2027-28. Last season, he scored 20 goals and 45 points in 75 games as the Capitals finished four points shy of a wild-card spot.

"We are extremely excited to sign Ryan to a long-term contract," said GM Chris Patrick. "He has tremendous potential to continue growing into an important player."

The extension comes after an active offseason in which the Capitals traded for Jordan Kyrou and Alex Tuch, added Boone Jenner, Jonny Brodzinski, Vincent Desharnais, and Justin Holl, and re-signed Alex Ovechkin. Leonard's $10.5M AAV ties Tuch as the team's highest earner.

The move reflects the NHL's changing financial landscape. The Ottawa Senators signed Drake Batherson to an eight-year, $10.75M annual deal. There are now 31 players slated to earn over $10 million, with Leo Carlsson ($18M), Kirill Kaprizov, and Connor Bedard among the highest-paid.