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Washington Capitals Re-Sign Alex Ovechkin to 5-Year Deal

Alex Ovechkin has signed a five-year extension with the Washington Capitals, worth a total of $47.5 million.

The Washington Capitals and NHL superstar Alex Ovechkin have worked out the terms of a new contract extension. Heโ€™ll be sticking with the team for five more seasons and is going to be paid handsomely to do so. The new deal is worth a reported $9.5 million per season for a total of $47.5 million.

Related: Vegas Golden Knights Trade Marc-Andre Fleury to Chicago Blackhawks

Ovechkin sits in sixth place on the NHLโ€™s all-time goals list โ€“ is the franchise leader in games played (1,197), goals (730) & points (1,320). There wasnโ€™t really much doubt a deal would get done with the Capitals, it was simply a matter of length of term on the deal and whether or not heโ€™d be able to move up the goal scorers board and potentially match Wayne Gretzkyโ€™s record. Ovechkin needs to average 32.8 goals per year for the next five seasons to tie Gretzky at 894.

Ovechkin Negotiated His Own Deal Again

Ovechkin, nearly 36, made it well known that he had a desire to a member of the Capitals. Itโ€™s the only NHL team heโ€™s ever played for. Heโ€™s about to begin his 17th season with the club. Ovechkin negotiated his new deal without an agent, speaking directly with owner Ted Leonsis and General Manager Brian MacLellan. Itโ€™s the same way he negotiated his last deal โ€” a blockbuster $124 million contract.

This deal came after the two sides likely had a handshake agreement in the works. The plan was to wait for the NHL Expansion Draft to pass, then get the player locked up. This way, Washington didnโ€™t have to protect him in the draft.

Next: Mike Hoffman to Test NHL Free Agency, Looking For Long-Term Deal

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