Capitals Head Overseas (UPDATE)

UPDATE @ 9:31 AM

As reported on by Adam Vingan this morning, Capitals star Alex Ovechkin has signed with Dynamo Moscow of the KHL. This comes just one day after reports first surfaced of him being in talks with the Russian hockey franchise.

Ovechkin's deal will reportedly exceed the limit that was set by the NHL for players to make when they go overseas. The cash limit on overseas deals is 65% of what they would make in the NHL. For Ovechkin, that would put him at $5.8 million.

Much like Michael Neuvirth's deal, I'm sure that there is a clause in his contract that would allow for him to return to the NHL once the lockout ends. According to Ovechkin, however, that won't happen anytime soon. He told reporters recently that there is a chance that the upcoming NHL season will be lost.

Source: NBC4

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UPDATE @ 5:30 PM

The Alex Ovechkin negotiations to send him to Dynamo Moscow in the KHL has hit a bit of a snag. Chuck Gormley has the official report.

Basically, working out a contract with arguably the NHL's biggest name is difficult because he wants to get paid and paid big. Ovechkin wants to make sure that no money is lost between what he would make in the NHL and what he is going to make in the KHL.

If you're wondering if Ovechkin will change his mind and just not go to the KHL, that's not going to happen. The report states that the announcement of the signing is expected to come either Thursday or Friday.

Source: CSN Washington

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UPDATE @ 4:10 PM

Reports have surfaced this afternoon that Capitals star Alex Ovechkin is planning on joining Dynamo Moscow of the Kontinental Hockey League (KHL). The All-Star was also entertaining offers from CSKA Moscow.

Like most other contracts that NHL players have signed overseas, I'm sure there is a clause in his contract that allows him to return to the NHL in the event that the lockout ends (something that Ovechkin himself said won't happen this year).

If reports are true, Ovechkin joins a long list of players that have already left to play for overseas professional hockey leagues. Evgeni Malkin, Sergei Gonchar, and Ilya Kovalchuk have also left to play in the KHL.

Source: TSN

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We knew this was going to happen. If the NHL locked out, a number of current NHL players were going to go overseas to play professional hockey. Well now, the first Capital has left the states to play for another league.

Michael Neuvirth has signed with Sparta Praha of the Czech Extraliga. This comes just one day after he was on the ice with his teammates at Kettler Iceplex. The 24 year old goaltender signed a one-year contract with the club. Some experts believe that there is  a clause in the contract that will allow Neuvirth to return to the Capitals once the lockout has ended.

Neuvirth does have history with Sparta Praha. He played for them for three seasons prior to being drafted by the Capitals.

In 38 games last season for the Capitals, Neuvirth was 13-13-5 and a 2.82 goals against average. He was inconsistent and was hampered part way through the season with a knee injury.

Don't expect Neuvirth to be the only Capital to head overseas while the lockout is going on. Early reports today say that Alex Ovechkin will most likely sign with a KHL team in Russia. Another Capitals player that has looked at his options is Nicklas Backstrom. He may return to Sweden to play professionally there.

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Source: CSN Washington