Alex Ovechkin’s pursuit of the NHL’s all-time record for goals scored will continue with the only franchise he has ever played for after the Washington Capitals re-signed their captain to a five-year, $47.5 million contract on Tuesday.

Ovechkin, drafted first overall by the Capitals in 2004, is the franchise leader in games played (1,197), goals (730) and points (1,320) since making his NHL debut in 2005-06. He led the Capitals to their first Stanley Cup championship in 2018.

Ovechkin’s $124 million, 13-year contract was set to expire before NHL free agency officially begins on Wednesday.

''Alex is the face of our franchise and is committed to this organisation and this city,'' Capitals 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.''

Ovechkin’s 730 career goals rank sixth all-time behind Wayne Gretzky (894), Gordie Howe (801), Jaromir Jagr (766), Brett Hull (741) and Marcel Dionne (731).

Now signed through the 2025-26 season, Ovechkin – who turns 36 in September – would have to average nearly 33 goals per season during the life of his new contract to surpass Gretzky