Alex Ovechkin re-signs with Capitals: NHL's all-time goals leader back for one year, $4.25 million

The Capitals legend is back for his 22nd season with the franchise

Jul 2, 2026 at 12:59 pm ET • 1 min read

Alex Ovechkin has made a decision about his NHL future. The Washington Capitals legend is back for his 22nd season with the franchise, the team announced on Thursday. Ovechkin has inked a one-year, $4.25 million contract in hopes of getting one more shot at his second Stanley Cup.

While Ovechkin's contract carries a cap hit of $4.25 million for the 2026-27 season, he can earn substantially more due to a $4.75 million bonus that kicks in at 10 games played. If Washington doesn't have the cap space to absorb the entire bonus, whatever remains will be carried over to the 2027-28 campaign.

The greatest scorer in NHL history will return to add to his record total of 929 goals. Even at the age of 40 last season, Ovechkin still notched 32 goals, and he remains a key piece of the Washington power play. With the Capitals retooling their roster, Ovechkin has a realistic shot to chase another championship.

The No. 1 overall pick in the 2004 NHL Draft, Ovechkin immediately asserted himself as one of the NHL's most electrifying players as a rookie in 2005-06. That year, he beat out Sidney Crosby for the Calder Trophy with 52 goals and 106 points. That was just the first chapter in one of the greatest individual rivalries in sports history.

For the last two decades, Ovechkin has made a habit of finding the back of the net. Ovechkin has scored 50-plus goals nine times in his career, and he topped 60 goals in 2007-08. In the process of tormenting opposing goaltenders, Ovechkin has loaded up on Rocket Richard Trophy and Hart Trophy wins, but he's still sitting on one Stanley Cup.

In 2018, Washington finally slayed the Pittsburgh Penguins in the second round and went on to defeat the Vegas Golden Knights in the Stanley Cup Final. Ovechkin won the Conn Smythe Trophy after leading all playoff performers with 15 goals.

Last season, Ovechkin was still an effective offensive threat for the Capitals, notching 32 goals and 32 assists while playing all 82 games. This season, the Washington legend will have to shoulder less of the offensive burden, and that could benefit both him and the team as a whole.