The New York Islanders made headlines on Tuesday (12 September) by re-signing 24-year-old goaltender Rick DiPietro on a 15-year contract worth US$67.5million.
NEW YORK — The New York Islanders made NHL history on Tuesday by re-signing 24-year-old goaltender Rick DiPietro to a staggering 15-year contract worth $67.5 million. The agreement became the longest contract in league history, surpassing the 10-year deal the Islanders previously gave center Alexei Yashin.
Yashin’s contract, signed in 2001, was worth $87.5 million.
In another headline-grabbing offseason move, Islanders owner Charles Wang committed to DiPietro with a contract that will keep the goaltender in New York through his 40th birthday.
Wang announced the details of the agreement during a press conference in New York on Tuesday.
“This is a tremendously exciting day for the Islanders and all of our fans. It’s important to point out Ricky’s role in all of this. He wanted to be on Long Island for the rest of his career, but he also insisted on working out a deal that gave us the flexibility to put the best team on the ice that we possibly could,” Wang said.
At the time, DiPietro was viewed as a capable starting goaltender, although he had yet to establish himself as an elite NHL netminder.
The length of the agreement immediately generated plenty of surprise around the league, with many questioning why the Islanders would commit to such a massive contract for a young and relatively unproven goaltender.
Under the reported terms, DiPietro would earn $4.5 million annually, placing him eighth among NHL goaltenders in average salary.
The Islanders, however, believed DiPietro had the potential to develop into one of the league’s elite goaltenders, making the contract a potential bargain if he reached that level.
Still, with the NHL’s collective bargaining agreement set to expire in five years, many observers struggled to understand the reasoning behind such a long-term commitment.
DiPietro explained that the contract was the result of discussions that had begun earlier in the offseason and that he wanted to remain with the Islanders for the long haul.
“This 15 year deal wasn’t something that just came about. When we came to Charles (Wang) and Garth (Snow) earlier in the summer we said this is where we want to be and this is where we want to be for a long time,” DiPietro said. He added that the agreement was structured to give the Islanders enough flexibility to continue building a competitive team.
DiPietro also emphasized that the length of the contract would not lessen his motivation, noting that both his own performance and the team’s success would determine whether the deal ultimately proved worthwhile.
The agreement was also notable because it ranked as the second-longest contract in North American sports history at the time, trailing only the 25-year deal the Los Angeles Lakers gave Magic Johnson in 1981.
DiPietro said one of his primary goals was to finish his career in New York.
“The big thing I said too was I want to retire as an Islander. I want this to be my last contract and not have to worry about finishing my career on a different team and this allows us to do that,” he said.
The deal left the Islanders carrying two enormous long-term contracts, with both Yashin and DiPietro tied to the organization for the majority of their careers.
DiPietro’s contract was fully guaranteed, meaning he would still be entitled to the money if injuries ultimately forced him into retirement.
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