The Islanders are guaranteed to have at least one thing to celebrate at the end of the 2014-15 season. No, that doesn’t mean they’ll win the Cup or even make the playoffs. That statement refers to the fact Alexei Yashin finally comes off the books at the end of the season after what seems like an eternity for the Islanders.
Yashin last skated in the NHL back in 2006-07, but the Islanders bought out his contract and elected to pay him $17.632 million over the course of eight seasons. He’ll receive $2.204 million in 2014-15, closing out his long-term buyout.
For the Islanders, the nightmare is almost over. To be fair, they have no one to blame but themselves. The club (mainly Mike Milbury) gave Yashin a massive 10-year, $87.5 million contract in 2001. This contract was reduced by 24% due to the new collective bargaining agreement following the 2004-05 lockout, but Yashin remained a grossly overpaid skater. The Isles were stuck with Yashin due to his heavy contract and ultimately decided to buy him out in 2007 and pay him $17.63 million over the course of eight seasons. The move would save the team roughly 2/3 of what they owed Yashin, but it meant keeping him on the books for almost a decade.
Yashin went on to skate in the KHL through 2011-12, but he continues to collect NHL paychecks up until the end of the upcoming season.
Rejoice, Isles fans – the end is near.
Photo via Sporting News