Talking about Alex Ovechkin is to evoke greatness in hockey. Beyond statistics and contracts, the Washington Capitals’ captain symbolizes dedication and passion, inspiring generations of players.
In 2021, he decided to secure his future with the Capitals by signing a five-year extension, reinforcing his commitment to the team and to the city that has seen him shine for so many years, as he has been there since the 2005-2006 season.
With this contract, the left winger aims not only to continue racking up victories but also to chase a dream that could rewrite NHL history: surpassing Wayne Gretzky as the all-time leading goal scorer.
Alex Ovechkin’s salary and contract with the Capitals
Alex Ovechkin, captain of the Washington Capitals, signed a five-year, $47.5 million contract extension in 2021, with an average of $9.5 million per season, making him one of the highest-paid players.
Alex Ovechkin #8 of the Washington Capitals looks on before playing against the New Jersey Devils at Capital One Arena on October 12, 2024. (Source: Patrick Smith/Getty Images)
Spotrac reported that the contract also includes a $34 million signing bonus and a base salary of $5 million for the 2024-25 season, plus an additional $6 million bonus, creating an extravagant salary cap hit.
The contract is structured to decrease over time, with higher payments in the earlier years. For instance, in the 2021-2022 season, he earned $12.5 million, a figure that progressively decreases in the following years.
What’s notable about this deal is that it was negotiated directly by Ovechkin, who did not use agents, reflecting his experience and confidence in negotiations. This agreement underscores his ongoing commitment to the Capitals.
It also reflects his incredible career, which includes breaking scoring records in the NHL and leading the Capitals to their first Stanley Cup title in 2018. All of this significantly contributes to his current net worth.
Alex Ovechkin’s earnings with the Capitals through years
| Years | Earnings |
| 2011-12 | $9 million |
| 2010-11 | $9 million |
| 2009-10 | $9 million |
| 2008-09 | $9 million |
| 2007-08 | $984.2 thousand |
| 2006-07 | $984.2 thousand |
| 2005-06 | $984.2 thousand |
How many years does Alex Ovechkin have left in the Capitals?
Alex Ovechkin has indicated that he plans to retire after fulfilling his current contract with the Washington Capitals. In a recent interview, he suggested that this might be his last contract in the National Hockey League.
Alex Ovechkin #8 of the Washington Capitals celebrates after scoring a goal in the third period against the Boston Bruins in Game Six of the Eastern Conference Quarterfinals during the 2012 NHL Stanley Cup Playoffs. (Source: Patrick McDermott/Getty Images)
Since the agreement began in the 2021-2022 season, it extends until the end of the 2025-2026 season. Therefore, he has two years remaining on his contract, which will take him through the 2024-2025 and 2025-2026 seasons.
Although he announced the possibility of retiring in two years, he left open the chance to continue if he feels good. He mentioned that he doesn’t like to use the word “if”, preferring instead to live in the present and keep playing.
