From JP at Japers' Rink:
Which brings us back to Green. If Meehan is telling Larry Brooks that the Caps are low-balling Mike Green, it could mean one of two things: it could mean that the Caps are offering a deal that's way below Meehan's assessment of market value or it could mean that the Caps are offering a deal that's way below what Meehan is willing to accept for reasons detailed above. If it's the former, perhaps there's hope that the two sides can reach some middle ground (though I personally wrestle with what legitimate market value for a 22-year-old with Green's upside is, and I imagine I'm not alone). If it's the latter, however, and there's nothing that fits within the Caps salary structure that they could offer and have Meehan accept, there's little point in continuing negotiations at this point.
Read the entire entry here.
I think cooler heads will prevail in Green's case and the two sides will come to a reasonable agreement. Green was certainly impressive last season, but that was his first season in the NHL and he can't ask for the moon after just one year. As for an offer sheet, as JP points out, the Caps would match any offer sheet he received, so what would be the sense in going to the effort of signing him to a contract if you were another team? I guess to boost Washington's cap, but most teams would prefer to avoid the controversy that goes along with that.