Alex Ovechkin signs five-year, $47.5 million deal with Capitals

The 35-year-old who has only played with the Capitals since they drafted him first overall in 2004 declared ahead of Memorial Day he wants to retire as a member of the organization. He negotiated directly with the club without using an agent as he did when he put pen to paper on a 13-year, $124 million contract extension in January 2008. 

"Alex is the face of our franchise and is committed to this organization and this city," MacLellan said for the prepared statement. "Alex embodies what our franchise is all about, and we're thrilled that he will continue his career in the Caps uniform for the next five years." 

Ovechkin famously guided the Capitals to their first and, to date, only Stanley Cup title in 2018 and could become the league's all-time leading goal-scorer before his latest contract expires. He is sixth in NHL history with 730 goals, while Wayne Gretzky holds the record of 894. 

Ovechkin and his wife, Nastya, became investors in National Women's Soccer League team Washington Spirit in May, which offered yet another sign his free-agency saga always only had one conclusion. 

"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," Capitals owner Ted Leonsis added. "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."