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Ovechkin, Capitals Agree to New Contract for 2026-27
The one-year deal includes a $1 million base salary and up to $4.75 million in incentives if he plays at least 10 games.
On Thursday, July 2, 2026, the Washington Capitals announced that legendary hockey star Alex Ovechkin signed a one-year, $4.25 million contract to return for his 22nd NHL season with the only franchise he has ever played for.
The NHL's all-time leading goal scorer, Ovechkin holds the league record with 929 goals; at age 40, he scored 32 goals last season, completing the "GR8 Chase" that saw him surpass Wayne Gretzky on the all-time list.
His incentive-laden agreement includes a $1 million base salary and a $3.25 million signing bonus, with an additional $4.75 million available if the long-time captain plays in a minimum of 10 games during the 82-game season.
Capitals general manager Craig Patrick said, "Our entire organization is thrilled that Alex has decided to continue playing," while owner Ted Leonsis noted that having the team's most important player return means much to the city.
The Capitals bolstered their lineup by signing former Columbus Blue Jackets captain Boone Jenner, Buffalo Sabres veteran winger Alex Tuch, and eight-year veteran center Jordan Kyrou to help fight for a playoff spot.
The all-time leading scorer in NHL history, Alexander Ovechkin, has signed a new one-year, $4.25 million contract with Washington. The Capitals captain will enter his 22nd season.