It’s the third anniversary of the five-year, $47.5MM extension signed by Alex Ovechkin with the Washington Capitals in 2021. On the wrong side of 30 for a professional hockey player, Ovechkin has proven to be an above-average signing on a high-priced deal.
At an average annual value of $9.5MM, Ovechkin has been a point-per-game presence in his chase for Wayne Gretzky’s goal record of 894 goals throughout his career. Since starting his new contract in the 2021-22 NHL season, Ovechkin has scored 123 goals and 230 points in 229 games. Now, sitting just 41 goals behind the record with two years left to go on his current deal, Ovechkin should be able to cross the all-time barrier.
The major question surrounding Ovechkin’s legacy is his ability to win. The goal-scoring legend has one Cup ring under his belt from the 2018 Stanley Cup playoffs but has failed to reach beyond that with the Washington Capitals. There has been some speculation that the team is more focused on Ovechkin’s individual metrics than the organization’s desire to win. The Capitals were able to navigate around Ovechkin’s contract this summer with several moves this offseason, which put them in a much more competitive spot than they were a year ago.
Ovechkin’s contract shouldn’t get in the way of any future spending for the Capitals — especially after the team made significant additions this offseason. Washington has made the playoffs in 15 of the last 17 seasons and should be able to help Ovechkin pursue the all-time goal record set by Gretzky and qualify for the playoffs in 2024-25.