Alex Ovechkin has had many “firsts” throughout his legendary 21-year NHL career, and will mark another on Wednesday.
The five-year contract extension that Ovechkin signed with the Washington Capitals in July of 2021 officially expired at 11:59 pm last night, making the Caps captain a free agent for the first time. Ovechkin can now theoretically negotiate a contract with any other NHL team before free agency officially opens at noon.
Ovechkin joined the Capitals after they selected him first overall in the 2004 NHL Draft. Since then, the NHL’s all-time leading goal scorer has signed only three contracts in his storied career.
In 2005, Ovechkin inked a three-year, entry-level contract with the Capitals, which paid him $11.5 million over his first three seasons in the NHL. After winning his first MVP trophy in 2008, Ovechkin then cashed in with a 13-year, $124 million deal, which would not be permitted under today’s contract rules and regulations.
Ovechkin’s latest contract, which paid him $47.5 million over the past five seasons, was signed on July 27, 2021. Due to the COVID-19 pandemic, that year’s free agency period opened on July 28, as the season was delayed.
Capitals general manager Chris Patrick has indicated that the team already knows what Ovechkin’s next contract will look like if he plans to return to the NHL. Ovechkin has said that he plans to make his decision in July, and Patrick confirmed Saturday that he didn’t expect discussions to drag on through the summer.
Ovechkin suited up in all 82 games last season, leading the Capitals in both goals (32) and points (64) despite being 40 years old. He said during his final meeting with Caps media in April that the team’s ability to compete for a championship next season was the most important factor in his decision about whether to return.
