7 Biggest Trades in Washington Capitals History, Ranked

The Washington Capitals have endured some ups and downs over their 50-year history.

The same can be said of the business the Caps have down in the trade market. There have been some big hits, but also some swings and misses.

I counted down the seven biggest trades in Capitals history below.

7 Biggest Washington Capitals Trades in Team History

1. Kris Beech, Ross Lupaschuk, Michal Sivek, and Future Considerations for Jaromir Jagr and Frantisek Kucera  

This was the first bold move made under new owner Ted Leonsis, but it didn’t work out as anybody envisioned.

Jaromir Jagr was one of the game’s biggest stars when this deal was made in 2001, but he wasn’t able to bring his all-world form from Pittsburgh to Washington.

Jagr was still productive – he posted 201 points in 190 games with the Caps – but he was averaging 112 points per season in the four campaigns prior to joining Washington.

The Capitals traded Jagr in a salary dump three years after acquiring him.

2. Troy Brouwer, Phoenix Copley, and a Third-Round Pick for T.J. Oshie

Washington spent much of the 2010s as a Stanley Cup favourite according to their NHL odds, but just couldn’t get over the hump.

Feeling the team needed one more star player up front to join Alex Ovechkin and Nicklas Backstrom, the Caps traded for T.J. Oshie from the St. Louis Blues.

It turned out to be a franchise-changing move.

Oshie and the Caps won their first Stanley Cup in his second season with the club. 

3. Jaromir Jagr for Anson Carter

The Jagr experience in Washington was a dud, and the Caps were so desperate to get out from his bloated contract that they shipped him to the New York Rangers for middle-six winger Anson Carter.

Not only that, but the Capitals retained some of Jagr’s salary.

It was an ugly mark for the Caps and only got worse when Jagr found the fountain of youth with the Rangers after the 2004-2005 lockout.

4. Filip Forsberg for Martin Erat and Michael Latta

This one still haunts Caps fans.

Washington was stuck in second gear for much of the 2012-2013 season, so the front office decided to jolt the top-six by acquiring Martin Erat from the Nashville Predators for Filip Forsberg.

It was considered a mistake at the time, and even though Washington closed out the season strong with Erat, it looks even worse now.

Forsberg developed into one of the best scorers of his generation and is on pace to rewrite the record books in Nashville.  

5. Third-Round Pick for Michal Kempny

While everyone loves to see blockbuster trades at the deadline, it’s often the subtle moves that end up pushing a team over the line.

Washington’s acquisition of Michal Kempny from Chicago fits that bill.

An unheralded, middle-pair defenceman, Kempny fit like a glove on Washington’s blue line down the stretch and into the 2018 Stanley Cup playoffs.

Kempny didn’t light it up or do anything flashy, but he was a rock and gave head coach Barry Trotz 18 solid minutes every night.

The trade for Kempny barely got noticed and didn’t move Washington’s hockey odds to win the Stanley Cup, but it ended up being a massive moment in their season.

6. Mike Gartner and Larry Murphy for Dino Ciccarelli and Bob Rouse

It’s not every day that a trade involved three future Hall of Famers, but this one – which went down at the 1989 trade deadline – did.

Ciccarelli was a force of nature with the Minnesota North Stars and he didn’t slow down a lick when he jumped to Washington. 

Ciccarelli scored 12 goals in his first 11 games with the Caps and added 100 more over the next three campaigns. 

The Caps never missed the playoffs with Ciccarelli on their roster and they made it to the conference finals in 1990.

7. Darcy Kuemper for Pierre-Luc Dubois

This trade was met with plenty of skepticism when it was made, but the early returns make it look like a win-win.

Pierre-Luc Dubois was a former No. 3 overall draft pick, but he wanted out of town in Columbus and Winnipeg before signing a massive contract with the Los Angeles Kings.

Dubois struggled mightily in the first year of the deal, prompting the Kings to trade him to Washington.

Dubois has looked rejuvenated with Washington and has played a key role in helping the Caps put together a surprisingly strong 2024-2025 season.