Caps sign Ovechkin to extension

Jan 11, 2008 - 2:19 AM ARLINGTON, Virginia (Ticker) -- Alex Ovechkin will be a member of the Washington Capitals for a long, long time.

The Capitals on Thursday signed the superstar left wing to a 13-year contract extension.

Financial terms were not disclosed, but TSN of Canada reported the deal to be worth $124 million, with Ovechkin receiving $9 million per season over the first six years of the pact and $10 million each campaign thereafter.

"Alex is the cornerstone of our franchise, and I fully believe that he will help us achieve our ultimate goal of being a Stanley Cup team," Capitals owner Ted Leonsis said. "Like all Caps fans, I look forward to coming to Verizon Center or turning on the TV each night and seeing what he will do next, and I am sure we will continue to be amazed at what we see for years to come."

The new deal, which is the second-longest in NHL history behind New York Islanders goaltender Rick DiPietro's 15-year pact, will expire after the 2020-21 season, when Ovechkin will be 35 years old.

"My dream was always to play in the NHL, and Washington is my second home," Ovechkin said. "I appreciate all that the team has done for me. I love my teammates, the coaches, management and owners, and I love being a Washington Capital. The fans here have been great to me. I want to win and I want to bring the Stanley Cup to Washington."

Ovechkin, who was drafted first overall by Washington in 2004, was set to become a restricted free agent at the end of the season. The 22-year-old is making $3.83 million this campaign.

The 2006 Calder Trophy winner is having another outstanding season for the Capitals, leading the team with 32 goals and 52 points, which ranks ninth in the NHL. Ovechkin also leads Washington with a plus-6 rating.

"We knew when we drafted Alex that we were getting a phenomenal player," Capitals general manager George McPhee said. "What we soon saw firsthand was what an outstanding competitor, teammate and person he is. This contract further demonstrates his dedication to our team and the organization's commitment to building a consistent winner here in Washington."

In 206 career games, the Moscow native has netted 130 tallies and added 120 assists.

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