Washington Capitals
Capitals Re-Sign Alex Ovechkin to a Unique 1-Year Contract
The Washington Capitals have re-signed Alex Ovechkin to a one-year contract extension, proving retirement rumors were not true.
The retirement rumors aren’t true. The Washington Capitals have re-signed Alex Ovechkin to a one-year contract extension. The team confirmed the signing on Thursday, noting that he’ll make $4.25 million this coming season. As per Chris Johnston, “Alex Ovechkin will earn $9M next season as long as he plays 10 games. His contract includes a $3.25M signing bonus, $1M salary and $4.75M bonus when he reaches 10 games played.”
The deal is somewhat unique, but it makes sense given the Capitals’ salary cap situation, Ovechkin’s age, and the obvious need to give him more than $4.25 million for next year. Something would have to go incredibly wrong for him not to earn the $9 million.
The Capitals’ busy start to free agency has raised questions about Ovechkin’s future, but GM Chris Patrick said a return remained possible. Despite reports suggesting Ovechkin may be done, there was confidence within the organization that they could and work work things out.
Washington added several players while keeping cap flexibility, leaving about $4.4 million in space. With Ovechkin coming in just under that, it appears the Caps had a plan all along.
It is likely that this deal is of the bonus-heavy, over-35 variety.
More to come…
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