Capitals GM: Alex Ovechkin's New Contract Could Be Completed Before Free Agency

Washington Capitals general manager Brian MacLellan told reporters (h/t Tarik El-Bashir of The Athletic) that he's hopeful the team will be able to reach an agreement with left wing Alexander Ovechkin before free agency officially begins Wednesday.

Ovechkin's 13-year, $124 million contract is set to expire. Per ESPN's Emily Kaplan, he is negotiating the terms of his new deal.

"I'm confident; we still have time," Ovechkin told reporters on May 25 during his year-end media availability session.

"Obviously, I want to finish my career here. I'm pretty sure we will do something soon."

The Caps took Ovechkin with the No. 1 overall pick in the 2004 NHL draft. He's been a member of the team ever since, posting 730 goals and 590 assists. His goal mark is sixth all time.

The three-time Hart Trophy winner and 12-time All-Star also led the Caps to their first-ever Stanley Cup Final victory in 2018.

The 35-year-old Ovechkin is still productive, registering 24 goals and 18 assists in 45 games last year for a Caps team that reached the playoffs for the seventh straight year. He led the 36-15-5 Caps in goals despite missing 11 regular-season contests.