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Alex Ovechkin inks five-year deal to return to Capitals

Ovechkin will begin his quest to become the all-time leading goal scorer in NHL history.

Alex Ovechkin #8 of the Washington Capitals looks on against the Boston Bruins in the first period in Game Five of the First Round of the 2021 Stanley Cup Playoffs at Capital One Arena on May 23, 2021 in Washington, DC. Photo by Patrick McDermott/NHLI via Getty Images

Free agent LW Alex Ovechkin has signed a five-year, $47.5 million contract to return to the Washington Capitals. The Capitals all-time leading goal scorer, Ovechkin was never really considering going elsewhere via free agency this offseason. Ovechkin’s contract carries a cap hit of $9.5 million and runs through the 2025-26 season. Here’s what Capitals owner Ted Leonsis had to say on the 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,” Leonsis told the Capitals’ team website. “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 sits at 730 career goals, which ranks 6th all-time. Ovechkin needs 164 goals to tie Wayne Gretzky for first place on the NHL’s list. The Russian wing only needs two goals to move into 5th place ahead of Marcel Dionne. Realistically, we could see Ovechkin move into 3rd place ahead of former teammate Jaromir Jagr as soon as the 2021-22 season. Ovechkin would just need to score 37 goals.