Sergei Fedorov spent just over one year with the Washington Capitals. ((Nick Wass/Canadian Press))

Russian hockey club Metallurg Magnitogorsk announced on Thursday the signing of former NHL most valuable player Sergei Fedorov.

Fedorov, 39, reportedly signed a two-year deal with the Continental Hockey League (KHL) club. He will play on a team that includes his younger brother, Fedor.

"I spoke with Sergei this morning," agent Pat Brisson told The Canadian Press. "He's indicated to me that he is finalizing everything in order to join his brother in the KHL this summer.

"It's a dream for his dad as well."

Fedorov has spent the last 18 seasons in the NHL, most recently with Washington. The centre scored 11 goals and 22 assists in 52 regular season games the past season with the Capitals.

The Russian has scored 483 goals and 696 assists in 1,248 games with Detroit, Anaheim, Columbus and Washington, putting him 48th on the all-time NHL point list. He won three Stanley Cups with the Red Wings and the Hart Memorial Trophy as top player in the league in 1993-94.