The Washington Capitals, and franchise icon Alexander Ovechkin have come to terms on a 1 year, $4.25M contract which will reunite the two sides for a 22nd NHL campaign.
The deal will feature a $1M base salary in addition to a $3.25M signing bonus. However, should the veteran sniper reach at least 10 games played, he will earn an additional $4.75M bonus, which would bring his total compensation to $9M. By structuring his salary this way, Washington earns additional salary cap flexibility by keeping his average annual value artificially low, essentially spreading the hit over two seasons.
“Thank you to everyone for giving me and my family the time to make this decision,” Ovechkin said in a statement. “I’m healthy. I love playing hockey and competing to win. I’m excited to come back and join my teammates so we can fight for a playoff spot and have a chance to win.”
While the NHL’s all time leading goal scorer reportedly flirted with the idea of returning to Russia to play a final season in the KHL, but after consulting with his family, decided to make one final run at another Stanley Cup championship.
The Capitals have been amongst the busiest clubs in the league this offseason, aggressively adding talent up and down the lineup in what’s likely to be Ovechkin’s farewell tour year. In free agency the team added Joshua Dunne (1 year, $850K), Boone Jenner (4 years, $23M), Vincent Desharnais (4 years, $16.8M), Justin Holl (1 year, $900K), and Jonny Brodzinski (1 year, $850K).
Prior to that they traded for the rights to Alex Tuch from Buffalo, before inking him to a massive 8 year, $84M extension. They also brought in forward Jordan Kyrou from St. Louis in exchange for Connor McMichael, Milton Gastrin, and a 2026 1st round pick.
After finishing just 2 points shy of making the playoffs last year, Washington appears poised to be a force in the Metropolitan Division in 2026-27 as they hope to be able to send off their longtime captain with another championship parade.
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