Nearly a quarter century ago, the Washington Capitals made one of the most notable trades in franchise history. On July 11, 2001, the team completed a deal with the rival Pittsburgh Penguins for NHL legend Jaromir Jagr.

Then-general manager George McPhee acquired the then-29-year-old Czech winger – already a five-time NHL scoring leader and two-time Stanley Cup champion (1991, 1992) – and defenseman Frantisek Kucera in exchange for prospects Kris Beech, Michal Sivek, Ross Lupaschuk, cash, and future considerations.

The Capitals were coming off two consecutive years as Southeast Division champions only to be vanquished in the first round by Jagr and the Penguins each time. After obtaining their apparent playoff kryptonite, the Caps only got three disappointing seasons out of Jagr (83g, 118a) and missed the postseason twice in that span. He was flipped to the New York Rangers in 2004 for goalie Anson Carter.

“I said at the time, ‘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,” McPhee recalled in his 2014 exit interview, per the Washington Post. “It’s always about team construction and we weren’t really constructed the right way to absorb him.”

McPhee said he tried to explain to team owner Ted Leonsis that he didn’t want to repeat the same mistake he made when he worked in the Vancouver Canucks’ front office, trading away a trio of young players for Alexander Mogilny only for nothing to come from the blockbuster acquisition. Leonsis apparently replied, “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, respectively. The pair has led the Penguins to three Stanley Cup titles since then (2009, 2016, 2017). The Caps then became champions in 2018, and the NHL’s all-time leading goal scorer Alex Ovechkin first overall in 2004, something Jagr jokingly took credit for causing in 2019.

“Caps fans. Sorry it didn’t work out, but I try my best,” Jagr wrote in an Instagram post on the 18-year anniversary of his trade to D.C. “After 18 years we should look the positive way. If I would play very good, you would never had a chance to draft OVI. And you would probably didn’t win the cup last year😀👍…….. you welcome😎”

It’s unclear what “future considerations” – typically verbal agreements of good will down the road – came from the Jagr deal but the two on-ice rivals have made exactly three exchanges with one another since 2001, two of them just last season (Lars Eller & Anthony Beauvillier).