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Ovechkin Nets $124M Deal

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The Associated Press

Published: January 11, 2008

WASHINGTON - Alexander the Great has a contract worthy of his nickname - the first $100 million deal in NHL history.
Alex Ovechkin signed a $124 million, 13-year contract extension Thursday with the Washington Capitals, a handsome reward for the charismatic Russian who has been a nonstop goal-scorer since coming to the NHL in 2005.

"I'm happy I stay here," Ovechkin said. "It's my second home. I like the fans. I like the team. I like everything here."

The contract will pay Ovechkin $9 million per year for the first six years and $10 million per year for the following seven.

And he won't have to pay an agent anything. Ovechkin worked out the details himself in negotiations with owner Ted Leonsis and General Manager George McPhee. The 22-year-old Russian was in the final season of a three-year, entry-level deal.

Ovechkin has scored 130 goals in his 2 1/2 seasons, most among all NHL players over that time span entering Thursday's games. The winger entered Thursday tied for second in the NHL with 32 goals this season.

In other Capitals news, goalie Brent Johnson was sent to the American Hockey League's Hershey Bears to work on his conditioning after being sidelined by a knee injury. He is expected to play for Hershey today, then return to the Capitals.

Ex-Predators Owner Leipold Buys Wild

ST. PAUL, Minn. - One of the NHL's model franchises was sold Thursday when the Minnesota Wild announced Bob Naegele's majority stake will be bought by former Nashville Predators owner Craig Leipold.

Naegele and his group of investors formed Minnesota Sports and Entertainment in 1997 when they were awarded the rights to an expansion franchise that entered the league in 2000.

The Wild have announced a sellout for every game they have played at their downtown St. Paul arena.

"This is a genuinely incredible moment for me," Leipold said at a news conference.

Vice chairman Jac Sperling declined to reveal the purchase price, but said the deal is expected to close in the next few months pending approvals by the city and the league. The sports business analysts at Forbes released their annual team values in November, estimating the Wild's worth at $180 million. That number ranked them 15th out of 30 NHL teams.

When asked how much he will pay for the franchise and the parent company, Leipold - a native of Wisconsin - laughed as he said, "way too much."

CANUCKS SALE: British Columbia Supreme Court Justice Catherine Wedge ruled that owner Francesco Aquilini was no longer partners with Tom Gaglardi and Ryan Beedie when he made his successful solo bid to buy the NHL franchise.

The fight began about five years ago when the three men agreed to work together for an ownership interest in the club.

In November 2004, Aquilini purchased half the team for $250 million from American telecom billionaire John McCaw, only days after negotiations fell through with Gaglardi and Beedie.

BLACKHAWKS: Defenseman Brent Sopel signed a $7 million, three-year contract extension.

Initially acquired by Chicago as a free agent in September, the 31-year-old Sopel has appeared in 33 games this season with 10 assists.

BLUE JACKETS: Center Derick Brassard was recalled from AHL Syracuse, and the team's top pick in the 2006 entry draft is expected to make his NHL debut against St. Louis tonight.

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