'I'm Back': NHL Goals Leader Alex Ovechkin Re-Signs With Washington Capitals
Alex Ovechkin is returning to the Washington Capitals for a 22nd NHL season.
Ovechkin signed a one-year contract with a $4.25 million average annual salary on Thursday. The contract includes a $1 million base salary, a $4.75 million bonus for playing 10 games and a $3.25 million signing bonus.
Ovechkin, 40, hadn't decided on whether to return to play another NHL season at the end of the season, which made retirement a real possibility. He's not retiring yet.
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Earlier in the off-season, the Capitals acquired and signed right winger Alex Tuch to an eight-year contract worth $10.5 million annually, traded for right winger Jordan Kyrou and his $8.125-million cap hit for five more seasons, and signed center Boone to a four-year contract with a $5.75-million cap hit.
GM Chris Patrick still had enough space to re-sign Ovechkin, roster-wise and salary-wise.
"Alex has proven year after year that he can produce offensively and that he is still the driving force of our team," Patrick said. "We are excited about the additions we made this off-season to bolster our lineup and make our group more competitive. We believe that our roster is well balanced and will help create more opportunities for Alex to create offense and score goals."
The Capitals now have about $975,000 of cap space left, according to PuckPedia. The games played bonus means Ovechkin could earn up to $9 million, but bonuses are typically added to a team's cap hit after the season, with any bonus money over the cap carrying over to next season's cap hit.
"As we look ahead to next season, we are incredibly excited about the work our hockey operations group accomplished this summer to position our team to compete for a playoff berth and contend for the Stanley Cup," Leonsis said. "Our fans expect nothing less, and our organization has made the investments and difficult decisions necessary to build a new and exciting team."
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This story was originally published July 2, 2026 at 9:41 AM.