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Washington Capitals Re-Sign Alex Ovechkin To Five-Year Contract

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The Capitals re-signed Ovechkin to a five-year deal.

The Washington Capitals have checked off the most important item on their offseason to-do list. They have re-signed Alex Ovechkin to a five-year deal worth $47.5 million.

Washington’s captain was a pending unrestricted free agent. General manager Brian MacLellan assured that the team was working on a new deal with Ovechkin and hoped to have it finished by the start of free agency Wednesday.

Ovechkin’s new deal carries an AAV of $9.5 million per season, the same as his previous 13-year, $124 million deal.

“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,” owner Ted Leonsis said. “The impact Alex has had 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.”

To make cap space, the Capitals traded Brenden Dillon to the Winnipeg Jets in exchange for 2022 and 2023 second-rounders. With that, the Capitals cleared $3.9 million in salary for $13.6 million to spend. With Ovechkin’s deal, Washington now has about $4.1 million remaining in salary. They still have to re-sign RFAs Ilya Samsonov and Lucas Johansen, as well as explore backup goaltending options.

READ MORE ON WHN: Breaking Down The Brenden Dillon Trade

Ovechkin currently sits sixth on the NHL’s all-time goals list with 730 tallies. He sits one back of tying Marcel Dionne for fifth all-time. He’s is 165 goals away from tying Wayne Gretzky’s all-time record. This means he needs 33 goals a season over the next five years to pass No. 99. He is also Washington’s all-time leader in GP (1,197) and points (1,320).

In 45 games with the Capitals last season, the Russian left wing dished 24 goals and 42 points. He’s never scored under 20 goals in a season since entering the league in 2005.

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