- Ovechkin re-signs with Washington on a one-year, $4.25 million contract for 2026-27
- The 40-year-old passed on retirement and returns for his 22nd NHL season
- Read below for the full contract breakdown and Ovechkin’s reaction
Alex Ovechkin isn’t done yet.
Washington announced Thursday that its captain re-signed on a one-year contract worth $4.25 million, shutting the door on months of retirement talk. Ovechkin turns 41 in September and will play a 22nd NHL season, all of it with the Capitals.
Ovechkin hit unrestricted free agency for the first time in his career on July 1 after his five-year, $47.5 million deal expired. He spent the early part of the offseason weighing whether to keep going. That question got its answer Thursday.
The Capitals shared Ovechkin’s reaction in the release.
“I’m back!” Ovechkin said. “Thank you to everyone for giving me and my family the time to make this decision. I’m healthy. I love playing hockey and competing to win. I’m excited to come back and join my teammates so we can fight for a playoff spot and have a chance to win. See you in September, DC!”
There was even a video to go with it. The team posted a clip of Ovechkin signing during his family vacation in Turkey, grinning as he says “I’m back, babes” while putting pen to paper:
The deal is a bargain on the cap sheet and a windfall in cash. Ovechkin counts just $4.25 million against the cap but stands to collect around $9 million in real money, built from a $1 million base salary, a $3.25 million signing bonus, and a $4.75 million bonus that kicks in at 10 games played.
His decision follows an aggressive Washington offseason. The Capitals missed the playoffs last season, then traded for 30-goal scorers Jordan Kyrou and Alex Tuch in late June. Ovechkin watched all of it before committing.
The front office never sounded worried about fitting him in. GM Chris Patrick had spent the week insisting the team had the cap room and a roster spot ready, and he turned out to be right.
Ovechkin already holds the NHL’s all-time goals record. The one prize still in front of him is a second Stanley Cup, his first since 2018.
