19 April, 2014


A Star Is Signed: 6 Years, $54 Million for Alexander Ovechkin

Earlier today, Alexander Ovechkin, accompanied by family and an attorney, walked into the Washington Capitals’ team offices in Arlington, Va., reviewed with counsel terms for a new contract with the club, and agreed to a six-year pact that will pay him $54 million.
Tomorrow, this very report will run in one Moscow newspaper, SovetskySport.
Well into next decade, Washington will be Alexander Ovechkin’s hockey home.
We’ll have more information from SovetskySport on Ovechkin’s signing later this evening.
Updates: Dmitry Chesnokov’s story in SovetskySport can be found here.
5:50 p.m.: Official word from the Capitals:

The Washington Capitals will announce a new contract with left wing Alex Ovechkin at an 8:30 p.m. news conference at Verizon Center, immediately following the team’s Meet The Team Party for season-ticket holders.

6:40 p.m.: Word from the Meet the Team Party is that the contract is for 13 years.
6:41 p.m.: Tarik is reporting that the contract is worth $124 million.
7:17 p.m.: Ted just approached us at the season ticket holders’ meet-n-greet with the players at Verizon Center and confirmed that the original deal we reported today was correct, in years and dollars, and then the team subsequently worked out an additional seven years — for 13 total — in the package. So basically, the team sat down at the table and presented 6 years @ $9M per (the original report), then a “second” contract was negotiated at the bargaining table to start after that term for $10M per year for 7 more years, for a $124M total.
9:35 p.m.: Here is the audio of the press conference. link

Ovechkin and His Shadow - Photo courtesy of the Washington Capitals


60 Comments

  1. Puddin_an_Semin wrote:

    Are you guys serious? or is this some kind of January fools joke? No one else seems to be reporting this!!!! If true I am beyond happy!!!!!

    10 January, 2008 at 8:03 pm | Permalink
  2. The OFB Team wrote:

    This is not a joke.

    10 January, 2008 at 8:05 pm | Permalink
  3. CaptnClark wrote:

    YYYYYYYYYYEEEEEEEEEEEEEEEESSSSSSSSSSSSSSSSSSSSS!!!!!!!!!!!!!!!!!!!!!

    10 January, 2008 at 8:07 pm | Permalink
  4. canesice wrote:

    oh man. There goes the Eklund prediction. I just can’t believe he was wrong!!

    10 January, 2008 at 8:07 pm | Permalink
  5. BSK wrote:

    This is SO AWESOME!!!

    10 January, 2008 at 8:07 pm | Permalink
  6. CaptnClark wrote:

    If it is indeed true that is…..

    10 January, 2008 at 8:07 pm | Permalink
  7. SovSport wrote:

    It is true. More to follow.

    10 January, 2008 at 8:08 pm | Permalink
  8. BernieWolfeFan wrote:

    I haven’t seen anything anywhere else yet. Curious, you’d think Montreal would be all detracting it if it was true.

    10 January, 2008 at 8:10 pm | Permalink
  9. Mark Tucker wrote:

    I would have hope for a little longer term, but it’s good to be done!

    10 January, 2008 at 8:14 pm | Permalink
  10. D wrote:

    Whew. Now on to Green’s monster deal…
    -d

    10 January, 2008 at 8:14 pm | Permalink
  11. norske wrote:

    The longer the better, of course, but it’s better for the team than the five year deal Crosby got. I was always hoping he’d get a longer term, and even though it’s only longer by one year I’m pretty happy.
    (And yes, I just broke my own rule about not bringing up Crosby in this context.)

    10 January, 2008 at 8:18 pm | Permalink
  12. ThunderWeenie wrote:

    Way to scoop, guys!!!!!!!!!!!!!!!!!!!!!!

    10 January, 2008 at 8:22 pm | Permalink
  13. ThunderWeenie wrote:

    TSN picked up the story this afternoon, quoting their French-language affiliate RDS:
    http://www.tsn.ca/nhl/news_story/?ID=226952&hubname=

    10 January, 2008 at 8:23 pm | Permalink
  14. errantelf wrote:

    OMG. I swear to god I dreamed on Tuesday night that the deal had gotten done. I woke up half expecting to see it in the news yesterday. I can’t believe it was actually true- just one day late! Hahaha. Great news!

    10 January, 2008 at 8:24 pm | Permalink
  15. Great photo…

    10 January, 2008 at 8:25 pm | Permalink
  16. It’s a reasonable contract duration for both parties. It’s not so short that there’s another negotiation already looming; neither is it 10+ years which would have equal chance to burn the Capitals as it does Ovechkin.
    Now that the speculation is over everyone’s blood pressure can settle back to normal. And, as “D” wrote, time to start talking to Mike Green.

    10 January, 2008 at 8:26 pm | Permalink
  17. strungout wrote:

    Great news!

    10 January, 2008 at 8:27 pm | Permalink
  18. hockeygrl76 wrote:

    TSN.ca has sources (supposedly) that are saying the deal isn’t quite done yet? Have you heard anything like that?

    10 January, 2008 at 8:35 pm | Permalink
  19. Shmee wrote:

    Awesome news and even better that I first heard about it from a OFB!

    10 January, 2008 at 8:42 pm | Permalink
  20. Wilkins wrote:

    Not so fast, says TSN.

    10 January, 2008 at 8:44 pm | Permalink
  21. Mike wrote:

    yeah, what do you say about TSN’s claim the deal isn’t done yet. i just talked a whole lot of smack based on your report. would hate for it to be wrong. otherwise, good work……….

    10 January, 2008 at 8:44 pm | Permalink
  22. SYF wrote:

    If it is true, Congrats from a Wings fan! Ovechkin deserves to stay in D.C.

    10 January, 2008 at 8:45 pm | Permalink
  23. Caps Nut wrote:

    OOPS!
    TSN recants…
    http://tsn.ca/nhl/news_story/?ID=226952&hubname=nhl
    It’s ok guys, you don’t have to credit me and I’m ok if you nuke this comment as usually do. Just don’t trot out the red herrings ok?

    10 January, 2008 at 8:46 pm | Permalink
  24. Mike wrote:

    are you seriously quoting russian news?????????
    man, this isn’t true then. you never quote russian news……

    10 January, 2008 at 8:51 pm | Permalink
  25. Robyn wrote:

    THANK YOU CAPS ORGANIZATION FOR NOT LETTING THE REAL “NEXT GREAT ONE” GET AWAY. OV FOR PRESIDENT!!!!!

    10 January, 2008 at 8:56 pm | Permalink
  26. On top of TSN pullback, the team is now officially denying the story.
    http://sports.aol.com/fanhouse/2008/01/10/the-ovechkin-price-6-years-54-million/

    10 January, 2008 at 8:58 pm | Permalink
  27. SpartyCuse wrote:

    Of course the Caps will deny it. They want to be the ones to “break” the official news. There may be some i’s to dot, and t’s to cross, but it sounds like its done….lets hope.

    10 January, 2008 at 9:03 pm | Permalink
  28. SpartyCuse wrote:

    Tonight is the full-season ticket holder party. Perhaps they plan to make the announcement then.

    10 January, 2008 at 9:12 pm | Permalink
  29. Ken Beckett wrote:

    I was hoping Ovechkin would sign in Montreal, but this story is interesting. Especially with the Caps denying they’ve agreed to anything.
    Check out my hockey blog over at:
    http://thepowerplay.blogspot.com

    10 January, 2008 at 10:05 pm | Permalink
  30. Zman wrote:

    BALLS TO THE WALL TED! Good Job!

    10 January, 2008 at 10:06 pm | Permalink
  31. Scott wrote:

    puckteases….

    10 January, 2008 at 10:38 pm | Permalink
  32. strungout wrote:

    Tarik now confirms as well…Ted saying the terms are the the same as reported here.

    10 January, 2008 at 11:17 pm | Permalink
  33. amy wrote:

    Yay! The news that many have been waiting upon!

    10 January, 2008 at 11:21 pm | Permalink
  34. Mike wrote:

    If you seriously thought for one second that Ovy would sign somewhere else besides DC – then you should take a gun and shoot yourself in the head because YOU ARE STUPID!!!!!!!!!!!!

    10 January, 2008 at 11:27 pm | Permalink
  35. Scai wrote:

    TSN now reporting that it’s “for an average of $9.5 million per year for more than 10 years.”
    http://www.tsn.ca/nhl/news_story/?ID=226952&hubname=nhl

    10 January, 2008 at 11:40 pm | Permalink
  36. Scai wrote:

    13 years, 124 million. Wow!

    10 January, 2008 at 11:53 pm | Permalink
  37. Wilkins wrote:

    According to Tarik, the extension is more than double what you all had reported. Wow!
    http://blog.washingtonpost.com/capitalsinsider/2008/01/ovechkin_extension_terms.html

    10 January, 2008 at 11:54 pm | Permalink
  38. Wilkins wrote:

    You took the words right out of my mouth, Scai! :)

    10 January, 2008 at 11:55 pm | Permalink
  39. strungout wrote:

    Yeah…a little off on those numbers there guys. But breaking the signing was all that was really needed. Well done.

    10 January, 2008 at 11:55 pm | Permalink
  40. Scai wrote:

    lol this was fun. What a great great day to be a Capsfan!

    10 January, 2008 at 11:58 pm | Permalink
  41. WFY wrote:

    wow
    Good job OFB

    11 January, 2008 at 12:01 am | Permalink
  42. K wrote:

    Way to break the news OFB!!! I guess internet media isn’t at all reliable huh? :)
    Way to go Ted! Way to have vision!!!
    I’m so excited!!!

    11 January, 2008 at 12:16 am | Permalink
  43. Chris Green wrote:

    I’ll be shaking hands and patting them philly fans on the back sunday thanking them for helping with ovie’s salary…
    May he he score a hat trick!

    11 January, 2008 at 12:28 am | Permalink
  44. Capsaholic wrote:

    Ovechkin Agrees to Multiyear Deal to Remain With Capitals
    WASHINGTON (AP) -Alex Ovechkin agreed to a $124 million, 13-year contract extension Thursday with the Washington Capitals, working out the details himself…

    11 January, 2008 at 12:33 am | Permalink
  45. Zman wrote:

    6 years was plenty!!!!!! I think we overspent. This is basically Ted putting everything on the table, and saying “F**K it, let it ride!” If this backfires, we will lose this team. Let it be known!

    11 January, 2008 at 12:42 am | Permalink
  46. Gmann wrote:

    It’s a loooong time coming! Just saw the news and it’s time to light the Macanudos & pour some bubbly. Kudos!!!

    11 January, 2008 at 12:43 am | Permalink
  47. SovSport wrote:

    I have to insist that the original numbers reported were correct as of this morning.

    11 January, 2008 at 12:46 am | Permalink
  48. Victor wrote:

    I really, really, really, really hope that Philly fan who told John Bucigross AO looked mad that he was playing in Washington shows up at the game. Heh.

    11 January, 2008 at 1:08 am | Permalink
  49. maruk wrote:

    Does anyone else think this is a little weird? To suddenly go from 6 years to 13? And after a deal was supposedly already struck? I’m thrilled it’s done and I don’t believe in black helicopters, but there has to be at least a little more to this.

    11 January, 2008 at 1:08 am | Permalink
  50. HockeePhan wrote:

    good scoop and great news!

    11 January, 2008 at 1:08 am | Permalink
  51. Gustafsson wrote:

    More will be chronicled tomorrow, but the original numbers were correct. They then negotiated a second contract to add to the original extension. Kudos to both Ted to extent an offer with that kind of commitment and to Alex for accepting when he surely could have signed a more lucrative contract further down the line.
    This was a crazy day.

    11 January, 2008 at 2:35 am | Permalink
  52. Shane wrote:

    Congrats on getting the scoop on this story!

    11 January, 2008 at 2:59 am | Permalink
  53. Doug wrote:

    This was just a phenomenal announcement by Ted. Ovie’s dad & brother were there with him. What a night!!

    11 January, 2008 at 2:59 am | Permalink
  54. Grooven wrote:

    That’s a loooong time.
    I can picture people in Montreal and Toronto and NY rending their shirts and beating their chests as they mourn and lament upon hearing the news.

    11 January, 2008 at 3:16 am | Permalink
  55. Wow! Well, at least the speculation can cease. Initial reaction is that I’m really happy. I hope to have a more thorough comment on it tomorrow.

    11 January, 2008 at 4:52 am | Permalink
  56. Stealth wrote:

    I was surprised by the length of the contract, but thrilled that it is a done deal… As long as A.O. stays healthy, this could be a very good deal for the CAPS down the road… TSN had commentary about the signing that A.O. financially screwed himself over by signing for 13 years… They believe Crosby could command up to $15 million per season when his contract is up in five years… Right now, everybody is happy, so lets roll with that feeling and keep on winning!!!! :-)

    11 January, 2008 at 7:36 am | Permalink
  57. Fasaani wrote:

    Heh, like $124 millions isn’t enough :D

    11 January, 2008 at 9:20 am | Permalink
  58. Robyn wrote:

    “TSN had commentary about the signing that A.O. financially screwed himself over by signing for 13 years?¢‚Ǩ¬¶ They believe Crosby could command up to $15 million per season when his contract is up in five years?¢‚Ǩ¬¶”
    Just goes to show everyone that maybe SOME athletes aren’t in it just for the money? And how much money DOES a person really need?
    Let the crybaby go for more when his deal is up in 5 years. It’ll show the class of player he is compared to Ov. This man REALLY plays for the love of the game.

    11 January, 2008 at 4:07 pm | Permalink
  59. Mike wrote:

    Hey Well It Seem,s For the Time Being The Cap,s Fans Are Happy !!! But Remember Years Ago when Jagar Signed up with the Cap,s They Were In Seventh Heaven. Well In A Few Years If Ovechkin Stays That Long He also Will Take The Bucks And Run Off To Pursue A Team So He Can Hold The Stanley Cup Before He Gets Too OLD!!

    11 January, 2008 at 7:57 pm | Permalink
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    12 November, 2008 at 7:44 pm | Permalink