The Washington Capitals announced Tuesday they've signed superstar winger Alex Ovechkin to a five-year, $47.5 million contract extension through the 2025-26 NHL season.
Ovechkin's career on-ice earnings will reach $170.7 million by the conclusion of the new deal, per Spotrac.
"Alex is the face of our franchise and is committed to this organization and this city," Caps general manager Brian MacLellan said. "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."
The 35-year-old Russian has remained one of the league's most lethal scorers 17 years after the Capitals selected him with the first overall pick in the 2004 draft.
Ovechkin has led the NHL in goals nine times, including a recent three-year streak from the 2017-18 through 2019-20. He was limited to 45 appearances this past season because of injuries but still managed to light the lamp 24 times.
The three-time Hart Memorial Trophy winner ranks sixth on the all-time scoring list with 730 goals. His first tally of the 2021-22 season will tie him with Marcel Dionne for fifth.
He's 164 goals behind Wayne Gretzky for the all-time record. He'll need to average 32.8 goals during the duration of his new deal to pass Gretzky.
Signing Ovechkin to what will likely be his final long-term contract should also help the Caps keep their championship window open for the immediate future. They captured the first Stanley Cup title in franchise history in 2018.