Alex Ovechkin is entering the final year of a 13 year deal worth $124 million. Related: Ranking Every Hart Trophy Winner Since 2005. It would just be best for the club. Founded in 2009, The Hockey Writers is a premier destination for news and information on everything hockey. This accounts for 18.96% of Washington’s salary cap. As previously mentioned, Ovechkin is in the final year of his 13-year, $124 million contract. Of course, the Capitals plan on re-signing Ovechkin. He is coming off a 10-year, $67 million contract with an AAV of $6.7 million per season. On Jan. 10, 2008, former general manager, George McPhee, and owner, Ted Leonsis, locked up their superstar left-winger to a 13-year, $124 million contract that would see him remain in the nation’s capital until the conclusion of the 2020-21 season. eval(ez_write_tag([[300,250],'thehockeywriters_com-large-mobile-banner-2','ezslot_10',671,'0','0'])); In my opinion, an ideal extension for Ovechkin would be something along the lines of a five-year contract worth roughly $50-$52.5 million over the five years. What this will also mean is that the team will not only have that $6.1 million off the books, but they will also not have Holtby’s potential $10 million-plus extension on the books. Holtby’s $6.1 million contract is set to come off the books after this season’s playoffs. Cup-Winning Capitals – Where Are They Now? However, as we enter the playoffs, and ultimately the conclusion of the 2019-20 season, he has only one season remaining on his lucrative contract. Alexander Ovechkin has been a premier player in the National Hockey League for 15 years now. Current Contract Alex Ovechkin signed a 13 year / $124,000,000 contract with the Washington Capitals, including $124,000,000 guaranteed, and an annual average salary of $9,538,462. This past January, Nicklas Backstrom inked himself a five-year, $46 million contract with an average annual value (AAV) of $9.2 million per season. If Backstrom will be overpaid, Ovechkin deserves to be overpaid. The Toronto Maple Leafs are working the phones and getting more prepared for the NHL Draft and the start of free-agency. So, since the salary cap has risen substantially since he signed that 10-year deal, he is taking the exact same percentage out of the salary cap on his new deal despite making an additional $2.5 million. Alex Ovechkin’s Milestones Through the Years, $84-$88.2 million it was rumoured to go to. 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Yes, I am kidding. He also shouldn’t be making the $15-plus million I mentioned before. “I said I don’t want to play for a different team than Washington,” Ovechkin told J.J. Regan of NBC Sports Washington.eval(ez_write_tag([[728,90],'thehockeywriters_com-medrectangle-4','ezslot_8',664,'0','0'])); Negotiations could begin as early as the end of the Capitals’ postseason, whenever that may be. He should be making a little more than he is now, but not too much more because even though he has been able to fight it off for so long, a decline of some kind is inevitable. My best guess would be to sign him close to, or as long as Backstrom re-signed for. Rumor: Marc-Andre Fleury Has Submitted No-Trade List To Vegas Golden Knights, BREAKING: Alex Ovechkin Rejects Contract Extension From Washington Capitals, Rumored trade package from Montreal to Winnipeg for Laine, Rumored Trade Package From Philadelphia to Winnipeg for Patrik Laine, Rumored Trade Package Colorado Sending to Tampa Bay for Steven Stamkos, Report: Vegas and Florida Have Agreed to a Trade, Henrik Lundqvist Has Said Goodbye To His Teammates In New York, Done Deal: Minnesota and Nashville Complete a Trade, Rumored Trade Package From Chicago To Vegas For Marc-Andre Fleury, Maple Leafs being linked to huge trade with New Jersey or Anaheim. Let’s look at a recent contract extension given to another franchise player of the Capitals. Updated daily with news and features from over 130 writers worldwide. Taking a contract like I mentioned would give him a slight pay raise, but also allow some wiggle room for Washington to at least try to ice a competitive team that will continue to contend for championships. The Vegas Golden Knights are doing whatever they can to try and convince free-agent Alex Pietrangelo to join their team. It is also the same length as Backstrom’s, so these two could ride off into the sunset together when their contracts expire. Several reputable Russian sports websites picked up the news, including sports.ru , but the normal caveats apply about Russian reports and their credibility: ¯\_(ツ)_/¯. Related: Cup-Winning Capitals – Where Are They Now? Alex Ovechkin cap hit, salary, contracts, contract history, earnings, aav, free agent status This means that he received a pay raise, even though he is most likely on the back nine of his career. The Washington Capitals reportedly offered him a deal worth much less, but the parties are likely to reach a deal before his contract expires. Although he is a generational talent and arguably the greatest goal scorer of all-time, this just doesn’t seem realistic for a player who is turning 35 this September. What I mean is that it is unlikely that Ovechkin asks for an amount of money so high that it will tie the Capitals’ hands financially with their other player’s contracts. The hockey world was shocked when the Pittsburgh Penguins left Marc-Andre Fleury unprotected during the Vegas Golden Knights expansion dr... Alex Ovechkin is entering the final year of a 13 year deal worth $124 million. It appears that the NHL will have what is referred to as a “flat cap,” which means that the salary cap will not raise to the $84-$88.2 million it was rumoured to go to, as reported by Sportsnet back in March. In 2020-1, Ovechkin will earn a base salary of $10,000,000, while carrying a cap hit of $9,538,462. This accounts for 18.96% of Washington’s salary cap. If Ovechkin were to go the same route as Backstrom and aim for a salary that is 18.96% of the cap, he would be looking at a $15,452,400 contract extension. Since these two have been joined at the hip since Backstrom arrived in D.C., it is safe to think Ovechkin would consider doing something similar in order to keep a winning team on the ice for the Capitals. According to multiple reports, the Philadelphia Flyers have been the most active team trying to acquire Patrik Laine from the Winnipeg Jets. The team is also bu... Henrik Lundqvist has been the King of New York City since he was drafted 205th overall in the 7th round of the 2000 NHL entry draft. At this point, he deserves the trust of the team to not just give him a one or two-year deal. Don’t worry, I didn’t forget the focal point of this article. Related: Alex Ovechkin’s Milestones Through the Years. However, I believe Ovechkin is a player who does not play for the money. While he has maintained solid point totals throughout his entire career, he has also helped to grow the game not only in Washington, D.C., but all over the United States and the rest of the world. Maybe he did a little more so when he was younger, but I believe he has a burning passion to score goals and win championships. Ovechkin told J.J. Regan of NBC Sports Washington. Ovechkin has made it clear he’d like to come back to D.C. “Of course I would love to stay in Washington, but I would say before, we’ll see what’s going to happen,” Ovechkin said. The Minnesota Wild continue to make changes as the team has struck a deal with the Nashville Predators. He has done enough for the franchise. This contract has an AAV of $9,538,462. Instead, the salary cap will most likely remain at the $81.5 million it resides at now, meaning Holtby will most likely sign with another team when his contract expires.eval(ez_write_tag([[580,400],'thehockeywriters_com-large-mobile-banner-1','ezslot_3',665,'0','0'])); This will give the Capitals an extra $6.1 million in cap space for the upcoming season to extend some other players on expiring contracts, such as Jonas Siegenthaler and potentially the new kid in town, Brenden Dillon. Ranking Every Hart Trophy Winner Since 2005. All rights reserved. At age 35, that is rather spectacular. However, some additional issues have come to light ever since the COVID-19 pandemic. Give Ovi a three-to-five year deal that’ll keep him around until he is 38-to-40 years old. At the time, it seemed like that meant Ovechkin would be a Capital until his career was over. There has been some heated debate amongst Capitals’ faithful as to whether or not the team should re-sign Holtby or hand the starting goalie job to rookie, Ilya Samsonov. Over 2 million monthly readers now come to THW for their hockey fix. So, he deserves to be paid like a star in the league, and also deserves a bit of a raise because, like I said in regards to the term of the deal, he is the face of the Capitals. It will be a wild time for Capitals fans when Ovechkin’s expiring contract looms closer and closer, but for now I think we should all just gear up for what will hopefully be a long postseason. So, let’s break down a potential Ovechkin contract extension. This got me thinking… what is a realistic contract extension for Ovechkin? This contract has an AAV of $9,538,462. P.S. He has done a lot for the organization and should not have to take a pay cut just because he is getting up there in age. He is still roughly a point-per-game player and was on pace to score 57 goals, which would be his second-most goals scored in a season. In terms of an actual dollar amount to give Ovechkin, it becomes tricky. This would give him an AAV of $10-$10.5 million. His next contract, and the rest of the Capitals’ upcoming contracts, will really depend on what the Capitals decide to do with Braden Holtby this offseason. Ovechkin is coming off a historic 13-year, $124 million contract that netted him $9.538 million per season. Backstrom’s contract is a slight over-payment for a player who will be 38 when the contract expires, but like Ovi, he has done a lot for the franchise. Because of this, it seemed right that when his entry-level deal expired, the Washington Capitals would compensate him accordingly, which they did when they signed him to what was the most expensive contract in the history of the NHL at the time. However, although Backstrom did indeed receive a $2.5 million raise per season, his percentage against the salary cap is almost the exact same as his former 10-year, $67 million contract. eval(ez_write_tag([[580,400],'thehockeywriters_com-leader-1','ezslot_9',656,'0','0']));As previously mentioned, Ovechkin is on an expiring contract. So, they have more money to re-sign Ovechkin. To most, it would seem like a no-brainer to re-sign the former Vezina winner. With that contract, Backstrom occupied 11.28% of the salary cap, whereas his new contract occupies 11.29% of the cap.
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