Capitals Re-sign Alex Ovechkin To Five-Year, $47.5 Million Contract

Photo: Patrick McDermott/NHLI via Getty Images

Left wing Alex Ovechkin announced on Tuesday that he has re-signed with the Washington Capitals on a five-year contract that will carry a $9.5 million cap hit. The 35-year-old could have become an unrestricted free agent on Wednesday.

“Alex is a world-class athlete who will forever be regarded not only for leading the team to achieve our ultimate goal of winning the Stanley Cup, but also for inspiring the next generation of fans and youth players,” said Monumental Sports & Entertainment Founder and CEO Ted Leonsis in a statement. “The impact Alex has had on hockey in D.C. extends well beyond Capital One Arena. His performance on the ice has undoubtedly sparked countless new fans of the game and inspired more youth players to lace up skates of their own. Off the ice, Alex’s impact is equally unmatched. Not only is he committed to the franchise, but also to the community, and we look forward to seeing him in the Capitals uniform for years to come.”

Ovechkin, who played the final season of a 13-year contract that carried a cap hit of about $9.54 million in 2020-21, led the Capitals with 24 goals in 45 games this season, when he also posted 42 points.

The nine-time Maurice Rocket Richard (co-)winner has scored at least 50 goals eight times in his career, including two straight from 2018-19. Ovechkin was at 48 in 68 games in the 2019-20 season before the NHL paused it in March due to COVID-19.

In 1,197 career NHL games, Ovechkin has posted 730 goals (which are one behind Marcel Dionne for fifth on the all-time leaderboard), 1,320 points, and a +75 rating. He ranks first in Capitals history in points and second in assists (590) behind just center Nicklas Backstrom (722).

Ovechkin, who was named one of the 100 Greatest NHL Players in 2017, won the Art Ross Trophy as the NHL’s leading point scorer in 2007-08, Ted Lindsay Award as MVP voted by the players in three consecutive seasons (2008-10), Hart Trophy as MVP three times (2008-09, 2013), and the Calder Trophy as the NHL’s rookie of the season in 2005-06.

“Alex is the face of our franchise and is committed to this organization and this city,” said GM Brian MacLellan. “Alex embodies what our franchise is all about, and we’re thrilled that he will continue his career in the Caps uniform for the next five years.”

In 141 career Stanley Cup Playoff games, Ovechkin has recorded 71 goals and 135 points. He won the Conn Smythe Trophy as MVP of the tournament in 2018 when he led the Stanley Cup Playoffs with 15 goals and finished second with 27 points behind center Evgeny Kuznetsov (32). The Capitals won their first Stanley Cup Championship that season.

Ovechkin, the first overall pick in the 2004 NHL Draft, will enter the 2021-22 season 165 goals away from becoming the NHL’s all-time goal-scoring leader.

Ovechkin became eligible to sign a new contract extension on October 9, 2020, but waited to sign so that the Capitals could protect right-wing Daniel Sprong in the 2021 NHL Expansion Draft.

He has expressed interest in finishing his career in Washington, as has Capitals GM Brian MacLellan, and playing his final pro hockey game with the KHL’s CSKA Moscow, his hometown club.

Ovechkin has played in the NHL All-Star Game seven times in his career and has been named to the First All-Star Team eight times and the second four. He has represented Russia at the Winter Olympic Games in 2006, 2010, and 2014.

Ovechkin’s cap hit remains the highest on the Capitals, who have $3,418,695 remaining in cap space.

By Harrison Brown

About Harrison Brown

Harrison is a diehard Caps fan and a hockey fanatic with a passion for sports writing. He attended his first game at age 8 and has been a season ticket holder since the 2010-2011 season. His fondest Caps memory was watching the Capitals hoist the Stanley Cup in Las Vegas. In his spare time, he enjoys travel, photography, and hanging out with his two dogs. Follow Harrison on Twitter @HarrisonB927077
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10 Responses to Capitals Re-sign Alex Ovechkin To Five-Year, $47.5 Million Contract

  1. Mark Eiben says:

    Yes B*****!!!!!! Love ya OV!

  2. Scottlew73 says:

    They should build a statue…..,for your GM to mark/represent his massive stupidity with your owners money!! Yes signing Ovie is good & stats back that players also start to lose a step & skill as time goes on! 99% of players that have ever played proves that! I could’ve seen Ovie taking a 9 going down to 6 million deal that way if team was going to rebuild he would help club on back end build another winner. What this deal screams is we are happy losing in first round last three years & we are looking for 4 peat!! With the average “decent” scoring forwards salary sitting between 4-6 million your already out of most UFA’s pay scale!!

    • Anonymous says:

      yep, I would’ve liked to see OV give the team a chance to get some better talent around him, and taken a page from Chara who just wanted to keep playing for a measly $1M. Especially with the cap freeze.

    • hockeydruid says:

      Couldnt agree with you more about this team, management and the owner just being happy and content to make the playoffs the past 3 years but it is going to be real hard for them the next 5 years to even make the playoffs with this old and declining roster with no speed and no secondary scoring. But hey Ovie got his money.

    • Anonymous says:

      This sounds familiar. It’s pretty much what skeptics said when the Caps signed the 13-year contract with Ovi. He feeds off the skeptics so it will be interesting to see what he does over the next five years.

      • Anonymous says:

        What he does? He’ll probably keep doing what he’s been doing, standing at the left circle and taking shots, instead of mixing it up and moving around. What a joke.

  3. Jon Sorensen says:

    Welcome back, Ovi! 👍💪👊

  4. Anonymous says:

    Figured, just a tad over Backy’s deal. Didn’t expect the fifth year, though.

  5. Pingback: Transformational Times: A Look at the Washington Capitals As They Enter Season 18 of the Alex Ovechkin Era - Sports News Center 247

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