More on Yashin

My Take...
Wow. Charles Wang really surprised me here, after Snow called Yashin a "vital part" of the team a couple of weeks ago, they turned the tables. Alexei Yashin is an extremely nice guy and always was open to sign autographs after the games in the players lot. That being said I am elated that he is gone. As a player he never reached half his potential. He didn't score consistently, play well defensively, or work hard on the boards. This move also means we should be able to land a BIG TIME UFA this offseason. The team is not hogtied anymore and has some financial freedom.
From tsn.ca....
6/6/2007 8:56:54 AM
NEW YORK (AP) - The New York Islanders are buying out the remaining four years on Alexei Yashin's 10-year contract in the first step of an off-season overhaul they hope will include re-signing Jason Blake and Ryan Smyth.
"It's going to make the team have a different look," coach Ted Nolan said of Yashin's departure in a conference call Wednesday. "Hopefully, we can work something out with (Blake and Smyth). We're trying to assemble a cohesive group here."
Yashin finished with 119 goals and 171 assists in 346 games with the Islanders, but struggled the past two seasons. He had 18 goals and 32 assists this season, when he missed 24 games with a sprained right knee. He was scoreless in the Islanders' five-game first-round playoff loss to the Buffalo Sabres.
"Unfortunately he got hurt and couldn't get back to where he was before. .. He couldn't get it going," Nolan said. "It'll be a nice fresh start for him and now we have to find someone to replace him."
Related Info
Alexei Yashin Player Bio
List of potential Unrestricted Free Agents
General manager Garth Snow and Nolan wouldn't disclose the team's off-season strategy, but acknowledged that re-signing Blake, their leading scorer, and Smyth would be priorities.

"We'd love to have Ryan back," Nolan said. "We're going to do everything we can to keep him."
Smyth, who was acquired in a trade-deadline deal, and Blake can become unrestricted free agents on July 1.
Yashin came to the Islanders in a trade after the 2000-01 season. New York signed him to a 10-year contract worth US$87.5 million. The four years left on the deal are worth $26.45 million. The Islanders can buy Yashin out by paying two-thirds of the remaining amount ($17.63 million) over the next eight years for a salary-cap hit of about $2.2 million per season.
Snow said the Islanders' decision was based on discussions among team officials and that Yashin was disappointed when he learned of the buyout Tuesday.
"From my time knowing Alexei as a teammate and as a general manager, I have learned that Alexei is nothing but a first-class individual," said Snow, who played with Yashin for four seasons before becoming the Islanders GM. "With him on the team, the Islanders made the playoffs four out of the last five seasons and I believe that we would not have been able to do that without him."
Yashin had his best season with the Islanders in 2001-02 when he had 32 goals and 43 assists in 78 games.
"I believe this is in the best interests of the team and player. .. " Nolan said. "Alexei will have the opportunity to pursue a fresh start and we'll look at options to fill his position."

From Greg Logan of Newsday
Facing a potential mutiny from Islanders fans, owner Charles Wang bit the bullet and made the decision Tuesday to buy out the remaining four years of captain Alexei Yashin's 10-year contract, Newsday has learned exclusively. Some might view it as the owner admitting a costly mistake, but second-year coach Ted Nolan described it as a chance for a "new beginning" that might restore the fans' faith in the franchise.The last four seasons of the $87.5-million contract Yashin signed after the Islanders traded for him in 2001 were valued at $26.45 million. Under the NHL collective-bargaining agreement, Wang is permitted to pay two-thirds of that amount ($17.63 million) over the next eight years to buy it out. The salary-cap hit will be approximately $2.2 million per season over that time.



"It was a hard decision," said Nolan, who came in charged with motivating Yashin to play with more consistent passion. "But when push came to shove, it was the best decision for this organization to give Yash a nice, fresh start. For us, it's a new beginning. You start looking for new players to come in. There's a time for people to move, and we just felt it was the right time."It's possible the Islanders also could lose leading scorer Jason Blake and trade-deadline acquisition Ryan Smyth to unrestricted free agency when the market opens July 1. That prospect plus the return of the unpopular Yashin might have had a depressing effect on ticket sales. Fans at one Web site organized a petition asking Wang to buy out Yashin's contract.General manager Garth Snow said neither fan reaction nor the effort to sign Smyth, who most certainly will be named captain if he returns, had anything to do with the decision on Yashin. "It's two separate entities," Snow said when asked if this move might facilitate a Smyth signing.The GM also said it won't affect his determination of what the Islanders are willing to pay to re-sign Blake, who had a career year with 40 goals and 69 points but will turn 34 by the time training camp begins. "We're going to have to pick up goal-scoring, whether it's keeping the unrestricted free agents we have on our roster or another solution," Snow said. "It's a void we have to fill."The real sacrifice was made by Wang, who not only must eat the buyout price but also must prepare to shell out major bucks for Smyth, Blake or any other free agents the Islanders go after. On a personal level, the decision was difficult for Wang, who was close to Yashin."This decision was one of the hardest I have ever had to make" Wang said in a statement. "The organization holds Alexei in the highest regard -- as a player, as a teammate and as a person." Yashin praised Wang in the statement and said, "I'm looking forward to this new chapter in my life."Although Yashin got off to a hot start under Nolan, with 28 points in the first 22 games, a sprained right knee put him on the disabled list twice for a total of 24 games to finish the season with 50 points in 58 games. As his production diminished, so did Yashin's role. He was scoreless in the Isles' 4-1 first-round playoff series loss to Buffalo.Despite the Islanders' failure to negotiate with Blake since the trade deadline, Nolan said he still has interest in the feisty winger along with Smyth. "Garth will negotiate with them," Nolan said. "I know he spoke to Ryan a couple times. I'm crossing my fingers and hoping things get worked out. We all know how important he can be to this team."Without Yashin, the Islanders have more flexibility to build a gritty, Nolan-style team. But the coach said it's not about him. "It's about the type of team Long Island fans can appreciate and love and come back to see," Nolan said. "We want a team that's going to rejuvenate the tradition of what the Islanders are all about."I give Charles a lot of credit. I never met a man more loyal to a team or more sincere in my life ... People don't realize what type of commitment Charles has to this team and how much it means to him to make decisions like this. He's a very passionate, caring man. Hopefully, people will see that and pack it here again."

From Spector...

The first word that leapt to mind when I saw this was, "Wow!". Not because the Isles had to rid themselves of the fading Yashin, but that Wang was willing to absorb that cap hit for the next eight years, something I really didn't believe he'd do. Snow can claim fan reaction had nothing to do with it but as Logan noted the franchise was facing a near-mutinty from its fans over this. It was the right decision to make, but a costly one that should serve as an example for rival GMs to be careful about signing players to expensive, long-term contracts. Note that he's not officially bought out yet, as the NHL's contract buyout period begins on June 15th.