Ovechkin negotiated his own deal with sources saying a 6 year term at 54 million was the original agreement before Caps owner Ted Leonis blew the deal wide open with a much larger package.
The content of the contract, obtained by TSN has at least one surprising omission.
It does not include a no movement clause.
According to the terms of the agreement, Ovechkin has what is described as a "modified no trade clause."
Prior to July 1, 2014 the Capitals have the luxury and sole discretion of trading Ovechkin to any team in the league.
However, the language in the contract goes on to read that during the month of June 2014, Ovechkin can provide Washington with a list of up to 10 NHL teams to which he does not want to be traded to during each of the seasons after July 1, 2014, commencing with the 2014-2015 season.
Beginning in 2015-2016 Ovechkin can alter this list, providing he alerts Washington to his intentions during the month of September.
However, effective July1, 2014 through June 30, 2021 the Capitals will have the ability to trade Ovechkin, at the club's discretion to any team not on his banned list.
The structure of the contract will pay Ovechkin $9 million in years 2008-2009 through 2013-2014. From 2014-2015 through 2020-2021, Ovechkin will be compensated $10 million per season.