Tuesday, September 12, 2006

Worst Sports Contract in History

Rick Dipietro hit the jackpot when he signed a 15 year, $67.5 milllion contract.

The New York Islanders are quickly becoming the laughing stock of the NHL.

Owner Charles Wang made millions as CEO of Computer Associates, but this proves that while you can make smart decisions in the business world, this does not automatically translate into good decisions for your "toy", in this case an NHL franchise.

A 10 year deal given to Alexei Yashin a few seasons ago proved that these high-cost, long-term deals are unnecessarily risky propositions with little benefit to the team. If you want to show commitment to a player, a five-year deal will suffice. Anything longer simply shows you have no business running a sports team, and you have no long-term vision in the realization salary caps and collective bargaining agreements will always be changing and these old contracts will be a hinderance to your team's future progress.

You pay a player based on past performance. At least with Yashin he was nominated for the Hart Trophy and consistently put up points a few seasons before his lavish deal. Dipietro has accomplished nothing. He's, at best, an ok goaltender. He hasn't won a playoff series (much less a Stanley Cup ring), no Olympic gold medals, no World Championships, no Vezina nominations...nothing.

So has Wang thought about what would happen if, say, Dipietro TANKS next year? You're stuck with his salary for the NEXT FOURTEEN YEARS! It counts towards your salary cap. You can't trade him; no one will touch this guy's contract with a 10-foot pole. Heck, GM Garth Snow retired over the summer and his contract is counting towards the cap while he's on the phone in a suit.

Now what motivation does Dipietro have to improve his play? He's been average, and gets a big reward for it. He can now sit at home and stuff his face with potato chips and he'll still get paid over $4 million a year!

I thought it was funny when Wang said if Dipietro didn't sign by Friday, he wouldn't play in the 2006-07 season. Um, somehow with this deal, I don't think that was ever a problem.

You wonder what the lockout accomplished. Looking at this deal, not a heck of a lot. But hey, here's to Ricky D. If someone is dumb enough to give you that kind of money, don't ask questions, just take it.

Comments:
Yeah, on the surface the contract looks bad but...I'm sure he'll be the GM after his contract ends.
 
I heard they invited Dunham to camp... but if they're positive that their starter won't get hurt for the next fifteen years, why worry about signing a quality backup?

...okay, I use the term "quality" loosely... Maybe I meant to say "known"?
 
Didn't I sign for $252 million?

Don't I always choke in the big games?

Haven't I delivered exactly zero championships?
 
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