Goaltender of the century
Wang, DiPietro working on contract that runs until 2021
BY GREG LOGAN
Newsday Staff Writer

September 12, 2006


Predicting the future is risky business, but if he remains healthy and effective, there's a good chance Rick DiPietro still could be playing goal for the Islanders in the 2020-21 season.

No kidding.

According to an NHL executive, Islanders owner Charles Wang and DiPietro are on the verge of announcing they have reached agreement on a 15-year contract worth $67.5 million. The deal is believed to be the longest in NHL history and second in the history of major North American professional sports behind the 25-year deal worth $25 million that Magic Johnson signed with the NBA's Los Angeles Lakers in 1981.

DiPietro, who turns 25 a week from today, is scheduled to receive $4.5 million in each season of the contract. Although the total financial package represents a major investment by the Islanders, DiPietro's salary ranks eighth among NHL goaltenders for the coming season, leaves them $2 million under the current salary cap and should look like more of a bargain as the cap rises in the future.

No doubt the Islanders are hoping to score a public-relations coup in the wake of the July fiasco in which Wang fired general manager Neil Smith after 40 days on the job and replaced him by elevating backup goaltender Garth Snow to GM. If that caused Islanders fans to wonder about the direction of the franchise, Wang obviously hopes to offer reassurance by securing DiPietro, the No. 1 overall pick in the 2000 draft, for the long term.

In two more seasons, DiPietro could have become an unrestricted free agent, and there's a chance he might have approached the salary level of Chicago's Nikolai Khabibulin, the highest-paid goaltender at $6.75 million, according to figures from the NHL Players Association. DiPietro sacrificed short-term dollars for lifetime security, and Wang gambled that the fifth-year veteran will be worth it.

"Charles Wang is trying to show he's committed to a building project, and DiPietro showed he's committed to the team and wants to be on Long Island," the NHL executive said.

Wang gambled big previously on center Alexei Yashin, who signed a 10-year deal worth $87.5 million in 2001, and lost when Yashin failed to emerge as a team leader and managed to reach the 30-goal mark only once in his first four seasons with the Isles. The size of Yashin's contract is regarded as a mistake because it makes him virtually untradeable. He's scheduled to make $7.2 million this season.

The length of DiPietro's deal could have the same effect, but the annual salary number leaves the Islanders with some flexibility in relation to the salary cap. They still have room to add a backup goaltender, such as Mike Dunham or Brian Boucher from the remaining free agents in time for the first training-camp practice Friday in Yarmouth, Nova Scotia.

Although DiPietro is guaranteed the full $67.5 million if he suffers a career-ending injury, it's not yet clear what would happen should he decide to retire before the deal expires. For now, Islanders fans only can hope he has a long and glorious career.

Considering the Isles' losing record and porous defense last season, DiPietro ranked as one of the bright spots in compiling a 30-24-5 record with a 3.02 goals-against average and a .900 save percentage. His 63 games played tied for sixth in the NHL, and he also had a 2.28 goals-against average in four starts for the U.S. team at the Turin Olympics in February. For his career, DiPietro has a 58-62-13 record, a 2.85 goals-against average and a .900 save percentage.

It was DiPietro who approached the Islanders about the notion of a long-term commitment, but Wang embraced it and it was endorsed by Snow, who grew close to DiPietro as teammates. It's interesting to wonder whether such a ground-breaking agreement could have been reached with Smith in the GM's chair.

Smith was fired because he couldn't work within Wang's management structure, which calls for decisions to be made by committee. In this case, Wang appears to be a committee of one, and he just made DiPietro his most important partner in determining the future of the franchise.

Not a budget-buster

Although goaltender Rick DiPietro achieved remarkable long-term security with a 15-year contract worth $67.5 million that he is expected to sign with the Islanders, his $4.5-million average salary ranks a comfortable eighth among NHL netminders. Here's the top 15 salaries (in millions) for the 2006-07 season, according to NHLPA figures:*

Rank Players Team Salary

1. Nikolai Khabibulin Chicago $6.75

2. (tie) Roberto Luongo Vancouver $6.0

2. (tie) Marty Turco Dallas $6.0

4. Jose Theodore Colorado $5.5

Uh...

Why would anyone want to play for the Islanders for 15 years?

jesus man

Smart for Dipietro. Stupid for the Isles.

you get to bang Milbury's daughter.

garth snow

Here's a fun activity: how old will you be when this deal expires?

I'll be 38!!!

That is a massive deal in terms of length and salary, but I think he'll be worth it in the end. He's been a very good goalie on a very weak defensive team over the last two years and is only getting better. I see him being a top 5 goalie in the league someday.

It may also make sense under the cap somehow. Now when they're figuring out their future expenses, they can say, "This year we'll be paying Rick X amount of dollars," with almost no question. I also think he's very talented and all, but we've all seen good players hit walls. This whole situation is a wait-and-see kind of thing.

yeah no joke

guaranteed he pulls a "Theodore" in the next 3 years, and the Isles will be stuck with the contract for 10-12 more years.

I'm still trying to figure out why the Islanders would do this. Is saving some money under the cap on a per year basis during the guy's prime worth having him around for the 15 years?

DiPietro is the only guy close to being a star that the Islanders have. It's a message to the fans that they won't have to worry about him being traded for two shitty prospects just as he's entering his prime. I would have preferred a 10 year deal, he'd be 35 when that expired. I don't really have a problem with this, it's being blown way out of proportion. He's a very good goaltender and once some of the young defenseman around him develop, he will be a top five goalie.

If that's what the Isles had in mind when they signed this deal, then it's really quite ironic because the flip side is that the won't be able to trade him if they ever want to.

Yeah, exactly. What if DiPietro gets hurt? What if he has a career-ending injury this season? Then the Isles are stuck paying out his contract for FIFTEEN YEARS. Ridiculous! They screwed up a number of years back (2001?) signing Yashin to a big contract - you'd think they'd have learned.

If he gets hurt the Islanders' insurance company pays the contract, and there is no salary cap hit.

dear God, please help me find a gig where my employer guarentees to pay me 67.8 million dollars until I am 40 whether or not I perform.

- Love, Me.

One wonders the cost of the insurance premiums for a hockey team.