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Washington Capitals’ Alex Ovechkin signs five-year, $47.5 million extension

May 19, 2021; Boston, Massachusetts, USA; Washington Capitals left wing Alex Ovechkin (8) celebrates his goal against the Boston Bruins during the second period in game three of the first round of the 2021 Stanley Cup Playoffs at TD Garden. Mandatory Credit: Winslow Townson-USA TODAY Sports
May 19, 2021; Boston, Massachusetts, USA; Washington Capitals left wing Alex Ovechkin (8) celebrates his goal against the Boston Bruins during the second period in game three of the first round of the 2021 Stanley Cup Playoffs at TD Garden. Mandatory Credit: Winslow Townson-USA TODAY Sports

The Washington Capitals re-signed superstar captain Alex Ovechkin to a five-year, $47.5 million contract extension on Tuesday.

Ovechkin, who represented himself in negotiations, was set to become an unrestricted free agent on Wednesday. The 35-year-old Russian will carry a cap hit of $9.5 million next season under the new deal, which extends through the 2025-26 campaign.

A nine-time Rocket Richard Trophy recipient and three-time Hart Trophy winner, Ovechkin was quick to take to social media to announce his new contract.

“I’M BACK DC !!!!! #ALLCAPS,” Ovechkin wrote on Twitter.

Ovechkin is the franchise leader in games played (1,197), goals (730) and points (1,320) since being selected by Washington with the top overall pick in the 2004 NHL Draft. He was named the Conn Smythe Trophy recipient during the Capitals’ run to the Stanley Cup title in 2018.

“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,” Monumental Sports & Entertainment founder and CEO Ted Leonsis said.

“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 collected 42 points (team-leading 24 goals, 18 assists) in 45 games in 2020-21 while competing in the final season of a 13-year, $124 million contract he signed in 2008. He resides one goal shy of tying Hall of Famer Marcel Dionne for fifth place all-time in NHL history.

“Alex is the face of our franchise and is committed to this organization and this city,” Capitals general manager Brian MacLellan said. “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.”

–Field Level Media