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The Hershey Bears will remain with the Washington Capitals for the next four years.

The AHL and NHL clubs announced Friday they have extended their affiliation agreement through the 2023-24 season.

The Bears and Capitals have been affiliated since 2005. Hershey has qualified for the playoffs 12 times during that tenure, winning three Calder Cups. Hershey has been to the Calder Cup finals five times in the last 15 seasons. No other AHL team has reached the finals more time in that span.

"The Hershey Bears are thrilled to continue our partnership with one of the NHL's elite franchises," vice president of hockey operations Bryan Helmer said in a press release. "Together, the Hershey Bears and Washington Capitals have established a winning culture that goes hand-in-hand with organizational development at both the AHL and NHL levels. The Bears and Capitals have experienced success and championships during this long-standing affiliation, and we look forward to continuing this partnership for years to come."

The Bears were on their way to a 13th playoff appearance before the season was cancelled due to the coronavirus pandemic. The NHL season remains postponed. The Capitals currently lead the Metropolitan Division by a point.