Capitals Sign Ovechkin to 13-Year Contract Extension

[jayc948]

The Washington Capitals have signed left wing Alex Ovechkin to a new 13-year contract, vice president and general manager George McPhee announced today. Ovechkin – the NHL’s leading goal scorer in the three years since he entered the league and the only player in more than a half-century to be named to the NHL First All-Star Team in his first two full seasons – is under contract through the 2020-21 season.

“Alex is the cornerstone of our franchise, and I fully believe that he will help us achieve our ultimate goal of being a Stanley Cup team,” chairman and majority owner Ted Leonsis said. “Like all Caps fans, I look forward to coming to Verizon Center or turning on the TV each night and seeing what he will do next, and I am sure we will continue to be amazed at what we see for years to come.”

A 22-year-old native of Moscow, Russia, Ovechkin has led the Capitals in goals and points in each of his three seasons with the team. He reached 100 career points in 77 games and 100 career goals in 167 games, both the fastest of any active player. Ovechkin is the first Capital since Dale Hunter (1987-90) to record 50-plus points in each of his first three seasons with the team and the fourth Capital all-time to record three straight 30-goal seasons. He already stands 16th in club history with 130 career goals and 25th with 250 career points in 206 games.

“My dream was always to play in the NHL, and Washington is my second home,” Ovechkin said. “I appreciate all that the team has done for me. I love my teammates, the coaches, management and owners, and I love being a Washington Capital. The fans here have been great to me. I want to win, and I want to bring the Stanley Cup to Washington.”

Ovechkin was the Capitals’ first choice, first overall, in the 2004 NHL Entry Draft. He joined the team in 2005-06 and was the landslide winner of the NHL’s Calder Trophy that season as the league’s rookie of the year, earning 124 of a possible 129 first-place votes. He was a member of the NHL First All-Star Team as a rookie and again in 2006-07, becoming the first player since Detroit Red Wings goaltender Terry Sawchuk in 1950-51 and 1951-52 to earn first-team honors in each of his first two full seasons in the league. Ovechkin made his first appearance in an NHL All-Star Game in 2006-07 and won the Kharlamov Trophy as the top Russian-born player in the league for the second straight year.

“We knew when we drafted Alex that we were getting a phenomenal player,” McPhee said. “What we soon saw first-hand was what an outstanding competitor, teammate and person he is. This contract further demonstrates his dedication to our team and the organization’s commitment to building a consistent winner here in Washington.”

This season Ovechkin ranks tied for second in the NHL in goals (32) and leads the league in both power-play goals (13) and shots on goal (229). He is ninth in the league in points (52) and hits (116) and leads the Capitals in plus/minus rating (+6). He has at least a point in 16 of the Capitals’ 18 victories and has not gone more than two games without a goal all season.

Ovechkin has played an active role in the Washington, D.C., community since his arrival. He purchases eight season tickets to Capitals home games and donates them to soldiers and needy children as part of Alex Ovechkin’s Crazy 8s program. After nearly every home game he visits with his guests to sign autographs and pose for pictures. Ovechkin generously supports Athletes Against Autism and Right To Play, both financially and with his time. This September Ovechkin celebrated his 22nd birthday by leading a beautification project at Shaw Middle School in Washington, D.C.

Ovechkin’s off-ice presence has been felt in a number of other ways as well. The cover athlete on EA Sports’ NHL 07 video game, he has participated in a number of NHL promotional campaigns. Perhaps most memorably, he took part in a commercial in which he enlisted Leonsis’ help with a faulty vending machine and another in which he ordered room service to Sidney Crosby’s hotel room. He was featured in a cover story in The Washington Post Magazine and has graced the cover of four issues of The Hockey News. An avid sports fan, Ovechkin attends numerous Washington Wizards games, threw out the first pitch at a Washington Nationals game and hit a hole in one when he was honorary chair of the Caps Care Classic golf tournament in 2006.

[Kingdog819]

Wow, great move by the caps imo. They can continue to build the franchise around him.

[Travis24]

Great move. I get to see Ovechkin from rinkside seats that I walk up and buy day of the game for years to come.
Seriously, I am glad he's staying in DC and I hope they build a good squad around him.

[Isles4life]

The Caps can't go wrong keeping Ovie around for as long as possible. It is a lot of money going Ovechkin's way, but if I were him, I'd be a little wary of that many years on Washington in case they remain a perennial cellar dweller. This deal makes it harder for him to escape if he ends up wanting to.

[cottonzway]

These decade+ contracts are worst then the NBA. I mean he is worth the money per year, but 13 years?

[caps05]

Very smart move by the Caps, although I'm not sure about the length. He's the only recognizable current Cap, outside of longtime goalie Olie Kolzig, anywhere in the DC area, and fans will see that the team has made a commitment to their best player. Hopefully, that'll make a difference in the years to come.

[Faz]

While I'm a bit sketchy on the conversion rates and so on... I reckon $124M USD is quite a bit of money.

[bengino]

now that this is done, maybe they can focus on getting him some more help.

[canuckfan]

Originally Posted by bengino

now that this is done, maybe they can focus on getting him some more help.

Thats the problem - in future seasons will the Capitals be able to afford a decent cast of players to surround Ovechkin with, or will this mammoth contract prevent that from happening and hang over the franchise's head like an albatross for years and years to come and prevent the Caps from being able to fillout a quality roster? They're still going to need goaltending - Kolzig won't be around forever. Its not like the Capitals are doing great in attendance - how deep are Leonis pockets? I can't help but think the Caps will be in a similar situation as Tampa - a lot of money invested in just a couple players.

This is a huge contract, and although its great for the Caps to lock Ovechkin up for the long term, the amount of money combined with the term still makes this a huge risk, imo. 6 or 7 years from now Washington could be regretting this contract, and they'd only be halfway through.

[OriginalSix]

Ovie sounds like a pretty decent guy both on and off the ice. I like this guy much more than Cindy. He really is the complete player. Plus those commercials are hilarious!

[FreakNasty]

It's the same kind of argument with Alex Rodriguez. Can a team with with so much of that cap space tied up with one player? I'm skeptical myself, but really signing him pretty much guarentees attendance and endorsements based on what he can do all by himself. However it's not the same as in Tampa, who have it tied up in 3 players. The caps still have a lot of money to throw around if they choose to. They seem like a small market team however, and i'm not sure they have enough resources to build him a supporting cast. Besides that, who wants to play in washington? It raises many doubts, but if you were Ted would you have done anything different? Damned if you do damned if you don't.

[flyershomer]

very smart move. to lock up a star is great in any situation... now they need to build around him

[Thrillhouse]

Originally Posted by canuckfan

This is a huge contract, and although its great for the Caps to lock Ovechkin up for the long term, the amount of money combined with the term still makes this a huge risk, imo. 6 or 7 years from now Washington could be regretting this contract, and they'd only be halfway through.

I see what you're saying, and there's a decent chance your scenario does become a problem, but at no point does a team, especially Washington, regret having Ovechkin under contract, regardless of how much they pay him. Not signing Ovechkin would have a horrific effect to the Caps franchise on and off the ice.

I know it's a lot of money, more than I thought he would have gotten, but the good thing is that Washington has a good crop of young guys who they don't have to pay a whole lot for a while.

EDIT - Besides, you should be happy. This is bad news for Phaneuf and the Flames.

[Viper207]

At this rate, one or more of those 13 years will be lockout years, Washington will save some of the money that way. I can't wait to hear the owners complain about how out of control the contracts are again *sigh*

[FightingIsGood]

Originally Posted by Faz

While I'm a bit sketchy on the conversion rates and so on... I reckon $124M USD is quite a bit of money.

It is $9.54 million per season, which would make him the highest paid player in the league. I'm sure that will just make everyone here tickled pink since that knocks Crosby down a notch.

Seriously though, good for him - he's worth every penny. I love watching this guy play and am glad he's going to be with the Caps for years to come. The length of the contract is way too long though, and may end up being a burden on the Caps down the road.