The legendary hockey player's base salary will be just one million dollars, but with bonuses it could reach up to nine million. He already has a guaranteed 3.25 million just for signing. He will earn another 4.75 million if he plays at least 10 games. This type of contract is not unusual for older players.
Ovechkin is heading into his 22nd season in the league, which he entered after being the first overall pick in the 2004 draft. He has never worn any NHL jersey other than Washington's, with whom he won the Stanley Cup. The Russian is the all-time leading scorer in the world's top league, currently with 929 goals in the regular season, and he will surely look to add to that tally.
In total, he has played 1,573 games (929+758) in the regular season, and added 161 appearances (77+70) in the playoffs.
"I'm back. Thank you to everyone who gave me and my family time to make this decision. I'm healthy. I love playing hockey and winning. I'm excited to continue in Washington. We'll fight for the playoffs and a chance to win," he said.
The Capitals are currently not among the top favourites to win the Stanley Cup, but the goal will be to try to win it once more, especially for Ovechkin. The Washington management is working to build the most competitive team possible. Recently, well-known names like Jordan Kyrou, Boone Jenner, and Alex Tuch have arrived in the US capital.
The defence has been strengthened by Vincent Desharnais and Justin Holl. Slovak defenseman Martin Fehervary is also a key part of the team. Last season, Washington did not make the playoffs. In the past eight years, they have advanced past the first round only once.