The Washington Capitals and St. Louis Blues face serious offseason decisions following their first-round exits Check out the latest in today’s NHL rumor mill.

WHAT NEXT FOR THE CAPITALS?

ESPN.COM: Emily Kaplan believes re-signing Alex Ovechkin is the offseason priority for the Washington Capitals. Their 35-year-old captain and franchise player is eligible for unrestricted free agent status on July 28.

Washington Capitals captain Alex Ovechkin (NHL Images).

Kaplan wonders how much it would cost the Capitals and for how long to keep Ovechkin in the fold. Sources said he initially sought $12.5 million per season before the pandemic struck. With the salary cap flattened at $81.5 million for the foreseeable future, the Capitals might have budgeted for less. Nevertheless, Kaplan believes Ovechkin will be staying in Washington.

After a coaching change last year failed to improve their playoff fortunes, management could shake up the roster. There’s speculation the club could be growing impatient with center Evgeny Kuznetsov. He carries a $7.8 million annual salary-cap hit through 2024-25 as well as a 15-team no-trade list.

Kaplan noted the Capitals are among the NHL’s oldest teams. They could start retooling on the fly by bringing in some younger talent like top prospect Connor McMichael.

THE ATHLETIC: Tarik El-Bashir also weighed in on the Capitals’ offseason needs, including Ovechkin’s contract and Kuznetsov’s status.

El-Bashir feels whatever general manager Brian MacLellan does with Ovechkin’s new deal will affect the rest of this summer’s decision. Moving Kuznetsov’s big contract won’t be easy but there could be a team with interest in the 29-year-old center. He wonders how this year’s disappointing finish will affect the Capitals’ expansion draft protection list.

SPECTOR’S NOTE: I’ll be shocked if Ovechkin and the Capitals part ways this summer. Kaplan pointed out Capitals owner Ted Leonsis has indicated his intent to ensure his captain stays put.

Because of the flattened cap, Ovechkin might have to accept something between $9 million and $10 million on perhaps a three-year deal. Despite his age, he’s shown little sign of slowing down, with 24 goals and 42 points in 45 games.

A roster shakeup was likely to happen for cap purposes even if the Capitals hadn’t bowed out in the first round. Cap Friendly shows them with just over $72 million invested in 18 players for 2021-22, with Ovechkin as the only core player due for a new contract.

Moving Kuznetsov would help to address that issue. There could be a market for his services but the recent decline in his play, his three-game suspension for “inappropriate conduct” in the fall of 2019, getting placed on the league’s COVID-19 protocol list twice this season and his recent benching for missing a team function all but scream, “buyer beware.”

The expansion draft will help alleviate some of that salary-cap issue as they’re going to lose a player to the Seattle Kraken. It could be a high-salaried veteran such as T.J. Oshie ($5.75 million annual average value) or perhaps someone like Justin Schultz ($4 million), Lars Eller ($3.5 million) or Brenden Dillon ($3.9 million).

WHAT NEXT FOR THE BLUES?

ESPN.COM: Greg Wyshynski speculates the St. Louis Blues roster could have a different look next season following a second straight first-round elimination. Pending UFAs include Jaden Schwartz, Mike Hoffman, Tyler Bozak and Carl Gunnarsson, though management has expressed interest in signing Schwartz. They could also bring in an experienced backup for starter Jordan Binnington.

Wyshynski also wondered if the Blues would dare leave oft-injured sniper Vladimir Tarasenko unprotected in the expansion draft. Others who could be exposed include Schwartz, Sammy Blais, Ivan Barbashev, Marco Scandella and Vince Dunn. It’s expected Dunn, a restricted free agent, could be playing elsewhere next season.

THE ATHLETIC: Jeremy Rutherford believes Schwartz’s status could be the Blues’ biggest question heading into the offseason. He struggled down the stretch and in the playoffs but their left-wing depth is thin.

Rutherford suggests Dunn and perhaps Robert Thomas could be trade candidates. He also feels they need to address their backup goaltending, add size to their blueline, and bring back the versatile Bozak on a one-year, plus-35 contract.

SPECTOR’S NOTE: The Blues have $66.8 million invested in 20 players next season. A new contract for Schwartz will take a big bite out of their remaining cap space but they could have little choice if they don’t feel they can find a suitable replacement via trade or free agency.

Dunn was a fixture in this season’s rumor mill. He could be shopped this summer for a return that addresses one of the Blues’ roster needs.

Rutherford isn’t advocating for Thomas to be traded but wondered where he fits on the top six if Brayden Schenn is their second-line center. As he suggests, it might not hurt to examine his value in the trade market.

Exposing Tarasenko in the expansion draft would be a bold move. However, I don’t think it’s one they’ll consider.