Capitals forward Nicklas Backstrom signed a five-year, $46 million contract to remain in Washington, the team announced Tuesday. Backstrom was one of two big-name players entering the final year of his contract this season, along with goalie Braden Holtby. His new deal will carry a cap hit of $9.2 million and keep him in D.C. through the 2024-25 season.

Backstrom, 32, has made clear his desire to stay with the Caps throughout the process and fired his long-time agent, Marc Levine, in order to negotiate the new contract on his own.

“I love this city here,” Backstrom told NBC Sports Washington. “I just think it’s really good. I mean, it’s nice to go back [to Sweden] in the summertime, but I couldn’t wish for a better place to live in.”

 The new contract carries a cap hit of $9.2 million and will be the second-highest on the team behind only Alex Ovechkin’s $9.5+ million cap hit.

Backstrom has been an integral part of the team’s success in his 13-year NHL career, all spent with the Caps. He is the Caps’ all-time leader in assists with 668. His contract sets the stage for several more continued years teaming up with Ovechkin who will enter the final year of his current contract in the 2020-21 season.