Steve Lepore seems to think so:
I've decided the Washington Capitals are two players away from contending for the Cup. Definitely a #1 defenseman is in order (Hmmm, isn't Ed Jovanovski available after the 'Yotes 6-13 start?), while a second center to play with either Semin or Ovechkin would fit right (Craig Conroy would look nice).[...]
Plus, they are light years from the cap, so while Ted Leonsis may speak of patience on his blog until the cows come home and begin to talk to each other on AIM, two marquee players are easily within the Capitals budget.
Ok, let's play some fantasy hockey.
According to this source, the Caps are currently $14.118 million under the salary cap. Together, Conroy and Jovanowski would account for $2.394 million and $6.5 million respectively, prorated over the rest of the season. So yes, those additional salaries could easily fit under the cap. In addition, Conroy's salary would stay on the books through the 2007/08 season, while Jovanowski will stay on the books until 2010/11.
Dainius Zubrus, Richard Zednik and Donald Brashear all become unrestricted free agents at the end of this season. Alexander Semin will become a restricted free agent, along with Kris Beech, Brooks Laich, Brian Sutherby and Jakub Klepis. It's safe to say a number of those folks are going to get some kind of salary bump.
Did I neglect to mention that Jovanowski hasn't played a full season since 2001-02? How does that make you feel?
But here's the next question: Who do you give up to acquire them? While some might think Conroy's subpar play thus far might mean that he may come cheap -- though I'm not sure Dean Lombardi would just give him away -- what in the world do you think the Caps would have to give up for Jovanowski, one of the best all-around defenders in the game?
Prying Jovanowski out of Phoenix would probably require multiple players and/or prospects. Don't doubt for a second that the asking price would more than likely include second-year defenseman Mike Green.
Would you also be willing to trade Tomas Fleischmann and Eric Fehr, two players currently ripping up the AHL? Because if you want to acquire one of the best defensemen in the game in the prime of his career -- think of the Devils getting Scott Stevens from St. Louis for a fair comparison -- you're going to have to come up with something good.
“Ed Jovanovski was a key acquisition for our hockey club this summer, and we believe strongly that he will be part of the group that will see us an improved hockey club for the next several years to come,” Barnett said.
“We have no intention of discussing him with any other hockey club.”
Source: http://www.azcentral.com/sports/coyotes/articles/1119yotesnb1119.html
Jovo also has one of those things called a no trade clause and told the media he doesn’t want to be dealt.