WASHINGTON - JANUARY 08: Alexander Semin #28 of the Washington Capitals warms up before the game against the Florida Panthers at the Verizon Center on January 8 2011 in Washington DC. (Photo by Greg Fiume/Getty Images)

Alexander Semin Signs One-Year Contract Extension With Washington Capitals

The Capitals have given Alexander Semin a one-year contract extension worth a reported $6.7 million, putting off the question of his long-term future in D.C. for at least one more year.

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Alexander Semin's One-Year Contract Extension Does Not Include No-Trade Clause

More details have emerged about Alexander Semin's new one-year, $6.7 million contract. We already know that he was the one who wanted a short-term deal, not the Capitals. We also know that the Capitals did not give him more than $6.7 million because they did not want to pay him more than Nicklas Backstrom, who just signed a 10-year extension last summer. 

Now, we know a couple other things. For example, Semin's deal does not include a no-trade clause. General manager George McPhee said so on NHL Live earlier today. Via Ted Starkey:

GM on @NHLLive: "It's a $6.7M, 1 year deal. He does not have a no trade."    

Semin's new deal also does not include a no-move clause, according to McPhee. This means that there's still a chance Semin is traded at some point this season or next season, though it becomes much more difficult at his new salary. 

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Alexander Semin Preferred One-Year Contract With The Capitals To Multi-Year Deal

The Alexander Semin contract extension came out of left field a little bit. Because he was set to become a free agent this summer, and his performance hadn't really lived up to his promise since his hot start, he had been the subject of trade speculation all season long. But with his new deal, the Capitals have appeared to lock him down. Well, for at least the next season anyway.

That's one of the big pieces of news coming from this extension. This means the Capitals and Semin will be in the same free agency limbo around this time next year. However, according to Tarik El-Bashir, the one-year contract was Semin's idea, not the Capitals.

[George McPhee] says Alexander Semin was offered a multi-year deal, but the winger wanted a one-year extension.

I'm not really sure what to make of that. I guess he wants to be in Washington, kind of? Maybe he knows that he hasn't played well enough to earn a really high payday and is hoping for a one-year tryout of sorts next season. Who knows?

As for the dollar amount, it has to do with Nicklas Backstrom's salary, according to McPhee. The Capitals did not want to give Semin more next season than Backstrom.

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Alexander Semin Signs One-Year Contract Extension With Washington Capitals

In a move that came a little bit out of left field to many fans, the Washington Capitals have decided to give Alexander Semin a one-year contract extension. The team announced the move earlier this morning in a press release.

Semin's new one-year contract will pay him $6.7 million, according to Corey Masisak of NHL.com. He is currently making $6 million on a one-year contract for this season. 

Semin started off the 2010/11 season hot, but has slumped considerably since then. He hasn't scored a goal since November 28, and he has been on injured reserve since January 9. His long-term status with the team was definitely up in the air, as he was set to become an unrestricted free agent this summer and surely would command a long-term extension. Instead of trading him or extending him for the long term, the Capitals took a third route and gave him the one-year extension.

For more on the move, head over to Japers Rink.

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