The financial terms of the agreement have not been made available at the time of this writing. According to most accounts, it's believed that Ribeiro was looking to receive a contract with a term length of at least four years.
(Update: Bob McKenzie of TSN reports the deal is four-years, $22 million with a limited no-movement clause).
Ribeiro was fairly vocal is his desire to receive a long-term contract extension that would provide his family with stability through the remainder of his career. In fact, he stated that he would be willing to stay with the Washington Capitals for less money in exchange for a contract that extended beyond three years in length. His ideal contract was believed to be a five-year deal.
However, that scenario apparently was something the two-sides could not come to agreement on.
Originally selected with the No. 45 overall selection in the 1998 NHL Entry Draft by the Montreal Canadiens, Ribeiro joined the Dallas Stars in 2006 and remained with the team before being traded to Washington prior to the 2013 season. In 48 regular-season games with the Capitals, Ribeiro recorded 49 points (13 goals and 36 assists), which ranked him second on the team in scoring.
The 33-year-old forward has played in 785 career regular-season games and has registered 609 points (186 goals and 423 assists).