Conference: Ovechkin Signs Huge Contract

So the trend of "longterm" deals seems to be catching on. In the last two years we've seen more than a few ten-plus year contracts, most recenly Mike Richards for twelve. Now Ovechkin has given up his first UFA freedoms for the foreseeable future to stay with the Washington Capitals for thirteen years. The contract is expected to be worth more than $120 million, the richest contract in NHL history. It has been reported by TSN's Bob McKenzie that the contract is mildly backloaded, the first six years to be worth $9 million per year while the final seven will be worth $10 million per year. So much for all the speculation that the Leafs or Habs would be signing him to an offer sheet this summer.