Alex Ovechkin To Return On One-Year Deal With Washington Capitals: Is He Still A Valuable Fantasy Asset?

Alex Ovechkin and the Washington Capitals have agreed to a one-year deal to bring back the NHL's all-time leading scorer.

Washington Capitals left wing Alex Ovechkin (8) skates against the New York Rangers during the second period at Madison Square Garden. Mandatory Credit: Danny Wild-Imagn Images | IMAGN IMAGES via Reuters Connect

Free agency is now in full swing for the NHL, but we may have just seen one of the biggest moves we will see this offseason. The league's all-time leading scorer has decided to return for at least one more season. Alex Ovechkin will enter his 22nd professional season at 41 years old with the Washington Capitals, where he played the entirety of his career. He has signed a one-year $4.25 million deal to play at least one more season as the team's captain.

IT'S SO NOT O-VER, BABES‼️

The Washington Capitals have re-signed captain Alex Ovechkin to a one-year contract extension. Ovechkin’s contract will carry an average annual value of $4.25 million.#ALLCAPS | #Gr8ness pic.twitter.com/MFudDudbiu

— Washington Capitals (@Capitals) July 2, 2026

While many expected Ovechkin to retire after last season, he proved last season that he still has plenty left in the tank. It's also no lock that this will be his last season either. We have no reason to believe he won't continue to be a valuable fantasy asset this season.

Fantasy Impact

LW Alex Ovechkin, Washington Capitals

Ovechkin is no longer an elite fantasy option on the wrong side of 40 years old, but while he may not be as great as he once was, he's still great compared to the vast majority of the league. Last season, he played in all 82 games, scoring 32 goals and dishing out 32 assists.

There is no reason to believe that he can't be just as productive this season, and there is actually room for him to improve. Two years back, he scored 44 goals. The big difference last season was that he scored just five power-play goals, which was the fewest of his career, compared to 14 PPGs. If he can be more productive on the power play next season like he has been his whole career, it could give his fantasy value a nice boost.

It is clear that Ovechkin has slowed down in many areas of his game, but one thing he has not lost is his ability to shoot and score. He is still deadly with the puck on his stick, and there is no reason that he can't still be a 40-goal scorer. A 70-point season is far from out of the realm of possibilities for the aging star.

Because of his age, Ovechkin will likely fall further in fantasy drafts than he should. Don't be afraid to take advantage of that and scoop him up. It's important to view him through the correct lens and be sure to compare him to your other options and not his past self.

What you get with Ovechkin is consistency and safety. Only once in 21 seasons has he scored fewer than 30 goals, when he scored 24 goals in just 45 games back in 2020 - 2021. That was also the only season he totaled less than 60 points. We love him as a high-floor player this season, even if his ceiling isn't what it once was.

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