Matt Hendricks re-signs

Photo by RMNB’s own Chris Gordon

The Washington Capitals announced Wednesday that they have signed forward Matt Hendricks to a two-year contract extension worth $800,000 per season. The Blaine, Minnesota native has become a fan favorite this year — his first as a Capital. After coming to training camp on a professional try-out, Hendricks signed a one-year deal with the Caps in September. He has made a name for himself in DC with his enthusiasm, grit and willingness to drop the gloves and fight blindfolded.

After breaking into the NHL with the Colorado Avalanche in 2009 on a two-way contract, Hendricks has finally inked himself to his first career one-way deal. The signing caps off a productive week for the 29 year-old. Blaine High School — Hendricks’ alma mater — retired his former number 10 jersey over the weekend.

Concerning Hendricks’ contract itself, it provides a good value to the Capitals with little downside. We can evaluate the deal using the Goals Versus Salary (GVS) metric, which measures a player’s offensive and defensive contributions in goals relative to what the team should expect given the player’s salary.

For example, this season Matt Hendricks has already contributed 3.2 goals above threshold, or GVT, which would equate to roughly a $1.5 million cap hit. So, if a team were to spend $1.5 million they should expect to get 3.2 goals above what a replacement player would provide.

Since this is a 2-year deal we can project Hendricks’ performance using similar players at the same age over the life of the contract.

2008-09 4 0 0 0 13 5 34
2009-10 56 9 7 16 74 63 519
2010-11 57 7 12 19 84 86 667
proj. 2012 82 10 13 23 111 92 874
proj. 2013 82 8 8 16 127 69 732

His projection — over 82 games — would be valued at about a $1.3 million cap hit in 2012 and at $0.87 million in 2013. That would mean Washington is paying $1.6 million for over $2 million worth of production. Even in a worse case scenario, the organization would only have to see boxcars of 5-5-10 with 30-40 PIMs over 55 games each year for the contract to “break even.” That makes this a nice move for the Caps. Their fans will certainly be happy to have Hendricks in the nation’s capital for years to come.

Additional Reaction

Good to see Hendy get repaid for all his efforts! I havent seen a more heart and soul guy than that. If im a GM he’s on my team every year.less than a minute ago via web

Good day just became a great day, #Caps sign #MattHendricks to 2yr extension, very well deserved. Plays with character, dedication & heartless than a minute ago via Twitter for iPhone

Now go order that jersey.

[Really. Go order that jersey. Modell’s is having a 40% sale today only. Coupon code is MOD40ASI223]

Introduction by Chris Gordon; editing by Ian Oland.

  • Colin

    I really like this deal. Well deserved and a great addition to the team. As for the coming contracts, I know they will ink Alzner to an RFA this summer or sooner. I’m guessing they’ll try to get Brads extended for the right price. I’d love to see if they can get Hannan for a couple of years before he goes UFA.

  • James

    Kelly Miller incarnate

  • I seem to remember Kelly Miller being a bit more gentlemanly than Hendy. haha. Did he ever drop the gloves once?

  • Soooo so happy to know that Hendricks is gonna be around for a few years. I love what he brings to the team 🙂

  • Katie

    I think this was a great signing. Matty is a real grinder, seems to have a stellar work ethic, and as we recently learned, can do a nice like deke. Happy to have him and happy for him. He had an opportunity to prove himself and he certainly did.

  • Matt Hendricks has like, eight pairs of balls. I love that little guy.

  • Brad

    BOOOOOOM!!! ORDERED!!!!! Thanks for the promo!

  • CDizz

    WOW so I was a little drunk last night and must have read this because there is a $108 charge on my credit card for a Hendricks WinterClassic jersey. Thanks guys hahahaha

  • Rockin’ The Red in VA

    Great signing by GMGM! Hendy easily is one of the biggest emotional leaders on this roster. Hopefully Alzner, Brads, Laich, and Capt America get some love here as the season wraps up. . .

    Go Caps!

  • Me

    I wish that my favorite team had a guy like Hendricks. I have so much respect and admiration for him.