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http://www.businessweek.com/news/2013-07-02/islanders-to-buy-out-dipietro-deal-for-24-million-newsday-says

Bloomberg News

Islanders to Buy Out DiPietro Deal for $24 Million, Newsday Says

July 02, 2013

The New York Islanders will place goaltender Rick DiPietro on waivers and buy out the remainder of the former No. 1 draft pick’s contract for $24 million over the next 16 years, Newsday of New York reported.

DiPietro, 31, will get a compliance buyout, meaning the $1.5 million the Islanders will pay him annually through 2029 won’t count against the National Hockey League team’s salary cap, the newspaper said, citing General Manager Garth Snow.

DiPietro was selected by the Islanders with the first overall pick in the 2000 NHL draft and signed a 15-year, $67 million contract with the team in 2006.

DiPietro ends his Islanders career with a 130-136 record. He was limited to a total of 50 games over the past five seasons because of injuries and a loss of playing time. He played in three games last season, going 0-3 with a 4.09 goals against average before being sent to Bridgeport of the American Hockey League.

To contact the reporter on this story: Erik Matuszewski in New York at matuszewski@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net


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