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New Jersey Devils select Halifax Mooseheads center Nico Hischier with the No. 1 pick in NHL draft

T.J. Oshie was expected to be one of the most sought-after free agents this NHL offseason, but it turns out he won’t be hitting the open market at all.

Oshie agreed to re-sign with the Capitals, the team announced Friday. He’ll stay in Washington with a new deal worth $46 million over eight years ($5.75 million AAV).

“T.J. is an invaluable member of our team and we felt it was imperative for us to re-sign him in a competitive free agent market,” Capitals general manager Brian MacLellan said in a statement. “T.J. is a highly competitive player with a tremendous skill set; he epitomizes the kind of player our team must have in order for us to continue to put ourselves in a position to compete in this League.