Unable to keep Cristobal Huet in the fold, Washington GM George McPhee went for the second-best option on the free-agent market and signed former Vezina and Hart Trophy winner Jose Theodore to a two-year, $9 million deal.
TSN of Canada first reported the signing.
Huet was sensational for the Capitals, going 11-2 down the stretch after being acquired from Montreal at the trade deadline. He was steady, if unspectacular, in the Caps' seven-game, first-round loss to Philadelphia, but the two sides couldn't agree on a long-term deal.
In Theodore, the Capitals will be bringing in as many questions as answers.
Do the defending Southeast Division champs get the netminder who stood on his head in the first round of the playoffs, or the one that fell to pieces in the second round as Colorado was swept by Detroit?
Theodore, who will be 32 when the 2008-09 season opens, played his best hockey last season after being anointed the No. 1 goalie in Colorado.
The Avalanche, in turn, signed Andrew Raycroft to a one-year, $800,000 deal, according to TSN of Canada. Raycroft had been placed on unconditional waivers last week by the Toronto Maple Leafs, who bought out the final year of his contract.
Scott Burnside is the NHL writer for ESPN.com.