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Ovechkin the newest 100 millionare
1/10/2008 at 7:17 PM
Alexander Ovechkin is going to be sticking around Washington for the long haul as he has signed the biggest contract in the history of the NHL Thursday by agreeing to a 13 year extension with the Capitals worth a whopping $124 million.
Sources tell TSN it is believed the structure of the contract will pay Ovechkin 9 million per year for the first six years of the term and 10 million for the remaining seven years.
The Capitals will make an announcement Thursday night at a news conference following the team's Meet the Team Party for season ticket holders.
The contract will expire in the 2020-'21 season when Ovechkin wil be 35-years-old.
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Ovechkin, who represented himself in the contract talks easily trumped the mega-deals signed by Islanders' goaltender Rick DiPietro and Flyers' forward Mike Richards.
The Calder Trophy winner is having another outstanding season for the Capitals, leading the team with 32 goals, 52 points and a +6 rating. He is currently 9th in the NHL in scoing. In 206 career games, the Moscow born sniper has fired home 130 goals and picked up 120 assists.
Ovechkin, who was selected first overall by the Capitals in the 2004 NHL Entry Draft, was set to become a restricted free-agent at the end of the season. This season he is earning $3.83 million.