Ovechkin's Deal Wealthiest in NHL History

The news surrounding Alex Ovechkin's new contract with the Washington Capitals just gets bigger and bigger. According to Tarik el-Bashir of the Washington Post, the actual terms of the deal are a mind-boggling 13 years and $124 million -- according to el-Bashir, it's believed to be the wealthiest deal in NHL history. As reported by el-Bashir, the first six years will pay out at $9 million per season, with the final four at $10 million each.

That's a significant upgrade over the six-year, $54 million report that leaked earlier today from Sovetsky Sport, and a heck of a premium over the 5-year, $43.5 million deal that reigning NHL MVP Sidney Crosby signed to stay in Pittsburgh this past offseason.

According to my FanHouse colleague, JD Press, the contract breaks down as follows:

$9,538,461.54 per season for the next 13 years
$116,322.70 per game for the next 13 seasons
$5,311.54 per shift (based on his current season's shifts-per-game pace)
$304,332.65 per hour of ice time (based on his current season's time on ice per game)

As big a bombshell as the size and term of the contract might be, it also has to be seen as one suffused with a tinge of irony. After all, it was the signing of Jaromir Jagr to a seven-year $77 million deal back in 2001 that backfired so badly and sent the team ultimately onto the course where they were able to draft Ovechkin #1 back in 2004.

If there's anyone laughing now, it has to be New York Islanders owner, Charles Wang. Recall back in September 2006 that Wang and team general manager Garth Snow were roundly ridiculed when they inked the goaltender to a 15-year, $67.5 million deal -- one that's looking like a mere pittance these days.

UPDATE: Sources have just confirmed for me that the original report on the term and value of the contract were correct, that was, before the team decided to revise them upward earlier today. Click here for the press conference audio.