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View Full Version : Ovechkin signs the largest contract in NHL history 13 years/$124 mill.


Datsyukiandeek
01-11-2008, 05:00 AM
http://images.tsn.ca/images/stories/20071201/AlexO_78380.jpg

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.

"I'm happy to stay here," Ovechkin told the Assoicated Press. "It's my second home. I like the fans. I like the team. I like everything here."

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.

"When you read the newspaper and, like, 'Ovechkin can go over there,' 'Ovechkin can be traded,' you feel it," said Ovechkin. "But then you try and don't think about it, but you think about it. Right now, I think all about my game."


The Capitals made the announcement Thursday night at a news conference following the team's Meet the Team Party for season ticket holders.



"I'm a risk-taker," Capitals owner Ted Leonsis said. "And if you're going to make a long-term investment, who else would you do it with?"

"I know it's extra pressure, but I have to play the same," said Ovechkin. "If you think of pressure, it's hard for you. I have to play the same way - play more, play better."

The contract will expire in the 2020-'21 season when Ovechkin wil be 35-years-old.

Ovechkin, who represented himself in the contract talks easily trumped the mega-deals signed by Islanders' goaltender Rick DiPietro and Flyers' forward Mike Richards.

"My bet is the money won't affect him," explained Leonsis. "He'll play every shift like it's the seventh game of the finals of the Stanley Cup, and that's what we've come to love about him."

The former 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.

After he turns 27, he gets the choice to hand in a list of teams in the NHL he refuses to be traded to. That will take place at the begining of each season for the rest of the contract.

alyourpal
01-12-2008, 10:17 PM
he is worth it glad to see hockey stars are gaining on salaries still not even close to the other makor sports but this can only help our sport grow look what tiger did for golf maybe sid and ovechkin can do the same

SPREEDIZZLE
01-12-2008, 10:31 PM
Good for him with the new contract. But what I honestly find interesting is that he did all of the contract and financial negotiations on his own. No business manager, no agent etc etc. Just broken english and one helluva contract going forward.

alyourpal
01-12-2008, 11:45 PM
maybe some of the sabres can hire alex to neg there contracts, but seriously alex deserves every penny I hope he keeps taking the body now that he is rich

Datsyukiandeek
01-13-2008, 12:41 AM
The best part being, on other boards, people seem to think that Sid The Kid's contract is an amazing value compared to Ovechkin's. They get caught up in the term and number but what they don't realize, that over the live of Crosby's current seven year deal, hes only making $300,000 less a season then Ovechkin.

The cap max should be around $15 mill by the time Crosby is up for free agency, so he'll more then make up for the lost cash.

The details of Ovechkin's unofficial non-movement clause is crazy. Its basically an admission from both parties that if the team isn't going in the right direction within five years, Ovechkin wants out.