The $67.5 million contract that changed the NHL's landscape forever
In short: In 2006, the New York Islanders signed Rick DiPietro to a groundbreaking 15-year, $67.5 million deal. It was the longest contract under the new collective bargaining agreement, a massive gamble on a highly touted goaltender that would eventually lead to a complex, decade-long financial fallout for the franchise.
Rick DiPietro entered the NHL with immense expectations. The New York Islanders picked him first overall during the 2000 entry draft, making him only the second goalie ever to earn that distinction. His early career showed flashes of brilliance, including a franchise-record 56 saves against the New York Rangers in March 2007, but his trajectory was soon derailed by a relentless string of injuries.
The physical toll began in earnest during the 2007–08 season with a concussion and a torn hip labrum. This was followed by a cycle of knee surgeries and further concussions, including a notable 2011 incident where a fight with Pittsburgh's Brent Johnson left him unconscious with a broken jaw. Between 2008 and 2013, these injuries limited him to just 50 NHL appearances over five seasons.
The financial implications of his contract were profound. The Islanders ended his agreement via a compliance buyout in July 2013, despite eight years still left on the deal. Per NHL regulations, DiPietro was scheduled to earn $1.5 million every year through the 2028–29 season. While many hockey writers label him a 'draft bust,' his career remains a significant case study in the risks of long-term, high-value athletic contracts.
Today, DiPietro has transitioned from the crease to the broadcast booth, serving as an analyst for ESPN and co-hosting 'DiPietro and Rothenberg' on ESPN New York.
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Sources
- Summary by Intellect · source: Rick DiPietro
- Also: Wikidata — Rick DiPietro · CC0
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