Obviously a 5 year, $9.5 mil AAV contract that starts when a guy is 36 is fairly likely to be bad by the end, regardless of the player. When Ovie is in his late 30s, there’s a good chance this is an albatross contract. I mean, how many forwards in NHL history have truly been worth the modern day equivalent of $9.5 mil at age 39-40? Not Gretzky, not Lemieux, not Jagr … maybe Teemu? If there are any at all, it’s only a few. The only current NHLers who are 38+ are Thornton, Marleau and Spezza, and none of them were worth remotely close to $9.5 mil at 38+, all are/were worth more like ~$1-3 mil at that age, and Ovie will likely be similar.
However, he’s a franchise defining player, and he won Washington a cup. He’s still one of the best wingers in the league, I’m guessing the Caps are hoping he remains worth his price tag over the first ~3 years, and the last ~2 years are a “thanks for everything Ovie” type payoff.
Basically, it’s too much term at his age, but he’s earned it.