Super Contract – DiPietro signs for 15

No, not 15 million.  15 years.

After already signing Yashin to an enormous 10 year deal, Charles Wang has again outdone himself. 

The crazy part about the Yashin deal is that it is still out for deliberation.  To date, it’s only value is that it’s been a good punchline in any joke related to hockey contracts.  But the next 5 years could change everyone’s opinion of that as 5 years is a long time and a lot can change in the hockey world.

Imagine this.  When Yashin’s contract expires, Rick DiPietro will still have 10 years left on his.  Unbelievable.

There is so much to think about in a contract like this.

TERM

This essentially lock Dipietro in for life.  He’ll be 40 years old when it expires, in all likelyhood, no longer the starter on the team.  For DiPietro, that’s the best security money can buy.  It’s no wonder he’s always said that he wanted to be an Islander for life.  His agent clearly knew of Wang’s desire to do make a splash and do things completely different and took advantage of that.

DOLLARS

Right now, the average salary will put Rick as the 8th highest paid goalie in the league.  Risk of injury and performance aside, the dollars on this contract are extremely reasonable for the Islanders.  With the way salaries have increased in the last 15 years (over 800%), this move may may Wang look like a genius. 

So do they both win?  DiPietro get’s security and the Islanders lock in for a reasonable average salary?

But what’s missing is the consideration of risk, and you can’t simply ignore the risks involved.  And the fact that there is a motivation factor for DiPietro involved.  This guy is never going to have to play for another contract in his life.  As a matter of fact, the only way he doesn’t get paid the entire 67.5 million is he voluntarily retires.  He could be ranked 87th in the league as a goalie and still collect a cool 4.5m per season, and with no motivation, that could come easier than you think.

There is no point in beating this one to death on it’s first day.  We’ve got the next 15 years to have some good dialogue and analysis of its pros and cons.  But I’d say astonishment is the general feeling in the hockey world today.

The Chief Canuck

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