The Washington Capitals have re-signed captain Alex Ovechkin to a five-year, $47.5 million contract, senior vice president and general manager Brian MacLellan announced today. Ovechkin's contract will carry an average annual value of $9.5 million. Ovechkin - who will enter the 2021-22 season in sixth place on the NHL's all-time goals list - is under contract through the 2025-26 season.

"Alex is a world-class athlete who will forever be regarded not only for leading the team to achieve our ultimate goal of winning the Stanley Cup, but also for inspiring the next generation of fans and youth players," said Monumental Sports & Entertainment Founder and CEO Ted Leonsis. "The impact Alex has had on hockey in D.C. extends well beyond Capital One Arena. His performance on the ice has undoubtedly sparked countless new fans of the game and inspired more youth players to lace up skates of their own. Off the ice, Alex's impact is equally unmatched. Not only is he committed to the franchise, but also to the community, and we look forward to seeing him in the Capitals uniform for years to come."

Ovechkin, the franchise leader in games played (1,197), goals (730) and points (1,320), captained the Capitals to their first Stanley Cup championship in 2018. Since 2005-06, Ovechkin's rookie season, Washington ranks second in the NHL in wins (689) and points (1,524).