BREAKING: Alex Ovechkin Rejects Contract Extension From Washington Capitals

Alex Ovechkin is entering the final year of a 13 year deal worth $124 million. He is looking for a contract extension that will increase his current cap hit from $9.54 million to roughly $12 million. The Washington Capitals reportedly offered him a deal worth much less, but the parties are likely to reach a deal before his contract expires.

According to RMNB, The Washington Capitals reportedly offered Ovechkin a contract extension worth $9.5 million for a term of 3-5 years. This is a generous deal considering Ovechkin will be 35 at the beginning of his new contract, but he feels that he deserves more. He is rumored to be interested in signing a 3-5 year deal worth $12 million; a salary similar to Connor McDavid.

Whether Ovechkin will negotiate his own contract or retain an agent is unclear, but both parties are interested in inking a deal. He has played for the Capitals since he was drafted in 2004 and this next deal will allow him to retire as a lifelong Capital.

Photographer: Rich Graessle/Icon Sportswire