Per the team: "The Washington Capitals have signed defenseman Shaone Morrisonn to a one-year contract, vice president and general manager George McPhee announced today. In keeping with club policy, financial terms of the deal were not disclosed."
Per Vogs (who, of course, works for said club): "The arbitrator has ruled that the 25-year-old blueliner will receive a one-year contract for $1.975 million for the upcoming 2008-09 NHL season."
That's a decent deal for the Caps (and a very good deal for Mo), but, at least by my math, the new contract will necessitate some roster juggling in order to get under the cap.
UPDATE: Just a reminder that "[p]er league rules, [and arbitrator] must render his salary decision within 48 hours of the hearing. Once the award has been made, the [team] then [has] a 48-hour window to reconsider the structure, and payroll, of their 2008-'09 roster.
Among the considerations the CBA allows: the possibility of a club to buy out up to three players on the roster." [Link]