Jagr Signs Extension

NHL teams

Jagr signed a five-year extension to his existing contract making it a seven-year deal worth $77 million. The average salary would surpass that of New York Islanders center Alexei Yashin, who signed a 10-year, $87.5 million deal last month.

"He should be the highest-paid player in the league, which he is right now," said Capitals owner Ted Leonsis. "We knew he was a great player, but as I said, and I'll reiterate, he's a good man. "He fits like a hand in a glove here.

"Signing him to a contract extension is yet another step as we work towards bringing the Stanley Cup to Washington. I hope Capitals' fans will share in my excitement about keeping the game's best player with the Caps."

Jagr has scored more than 100 points four times since debuting with Pittsburgh in 1990. He had 52 goals and 69 assists last season.

"When I came here I didn't know what to expect," Jagr said. "Then I heard the promise to win the Stanley Cup in five years -- maybe three years now."