On July 11, 2001, the Washington Capitals traded for NHL star Jaromir Jagr from the Pittsburgh Penguins. Capitals general manager George McPhee believed Jagr was the right player for their team needs. However, Jagr's time with the Capitals was disappointing, leading to only a few standout seasons and missing playoffs. McPhee's fears of repeating past mistakes surfaced during negotiations with team owner Ted Leonsis. Initially considered a bust, the trade turned out beneficial for both franchises as Pittsburgh secured critical draft picks later leading to superstars Sidney Crosby and Evgeni Malkin.
This is the right player at the right time for us. But I wasn't sure that it was the right player at the right time for us.
It's my team, it's my money, and I want to do it.
The 2001 trade was widely viewed as a bust in the immediate years that followed but in modern retrospect both franchises ended up winners in the long run.
Pittsburgh wound up with the first overall pick in the 2005 NHL Draft and the second overall selection the year prior which, of course, became Sidney Crosby and Evgeni Malkin.
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