Jaromir Jagr, who has spent the past two seasons with Avangard Omsk of the KHL in Russia, has signed a new, one-year contract with the team.
During a news conference in Prague Tuesday, Jagr said that he hadn't negotiated with any other team.
"I prefer when there is only one offer, sometimes it is better," Jagr said. "I got used to both the city and the team [and] this was the most important."
Jagr, 38, entered the NHL in the 1990-91 season, spending 11 seasons with the Pittsburgh Penguins, followed by stints with the Washington Capitals and New York Rangers. Jagr won two Stanley Cups and the Hart Memorial Trophy as MVP (1999) while with the Penguins.
As for the possibility of a return to the NHL once this new contract expired, Jagr said: "Next year I will be 39; I don't believe many clubs would like to have me [on their] team. One has to be realistic."
Jagr, who was on the Czech Republic team that lost to Russia 4-2 at the Vancouver Olympics, missing out on a quarterfinal berth, is preparing for the world championship in Germany, which begins May 7.
As recently as February, during the Olympics, Jagr was musing the idea of returning to play in the NHL. Asked then about the chances, Jagr smiled.
"I don't know," he said. "I love Russia. I love the NHL. Whatever happens, happens."
Jaroslav Zidek, Jagr's agent, was not specific on the contract terms, other than his client's base salary will be lower than in the previous two seasons, but with more performance bonuses. Jagr's annual salary for the first two years with Omsk was reported to be in the range of $7 million.
Jagr had 53 points with Omsk in 2008-09, and 42 points this past season.
Information from The Associated Press was used in this report.