Most outrageous, overpaid deals in recent history?

[Yzerman191 37]

Just wondering if it's just me or not, but it seems on over half the signings today I couldn't help but think, "Man, they're going to regret that in a year or two." I've been racking my brain comparing this year's first of July to past years, and I honestly can't think of a year where GMs made such vast overpayments of players. I mean, c'mon, what was Toronto thinking with Finger? And the NYR's with Redden's contract? And the Malone signing was just ridiculous! And Sundin rumored to be potentially one of the highest paid NHL players in the league in Vancouver? As an armchair GM, I'm a little puzzled by this year's signings, to say the least...

Me thinks if this keeps up we might see another lockout in the near future.

[YoungGuns1340 1]

I'm pretty sure the highest Wayne Gretzky ever got paid was 6.53M per year. When you consider that Wade Redden is making just as much...yeah I'd say its nuts. The average contract handed out so far today is probably 3-4M per season. Wayne Gretzky didnt make more than that until the 94-95 season.

[Outsider 42]

Why shouldn't they lure 'em in with big bucks and long-term deals? Look at the rate at which Players are being bought out of pricey/lengthy/stupid contracts this off-Season. They will soon be demanding an end to the Guaranteed Contract, thus ending the need to pay to buy a Player out of a mistake a GM/Owner made in signing them.

And if they don't get it, we can all watch the Owners lock the Players out, AGAIN, because they're "losing money, hand over fist! We can't survive! We can't compete! We need HELP! They're bleeding us DRY!!!"

And the fans will buy it, just like they did last time, hating the "greedy" Players for having the gall to make money. LOTS of money, for playing a GAME that most fans would play for FREE!

The NERVE of these greedy b@st@rds! They are RUINING hockey! Bring on the replacement Players, and watch the Owners lower ticket prices so EVERYONE can afford to go to games again! Bring 'em to their knees and force a hard Cap down their throats! THEN we'll get the Game back, and these crazy contracts, which are escalating out of control, will STOP!

Uh, yah.....

Rinse. Repeat.

Edited July 2, 2008 by Outsider

[Reds4Life 51]

I'm pretty sure the highest Wayne Gretzky ever got paid was 6.53M per year. When you consider that Wade Redden is making just as much...yeah I'd say its nuts. The average contract handed out so far today is probably 3-4M per season. Wayne Gretzky didnt make more than that until the 94-95 season.

6.5 million bucks today has maybe 1/3 value of 6.5 million when Gretzky earned it.

[YoungGuns1340 1]

6.5 million bucks today has maybe 1/3 value of 6.5 million when Gretzky earned it.

In what sense? Economically speaking or in relation to the rest of the NHL? If you mean in the relation to the rest of the NHL, it only proves my point. If you mean in economic terms, you're also wrong. 6.5M in 1998 - when gretzky made 6.5M - that would be 8.5M in todays world. AKA the best NHL player in the history of the sport wouldn't even be the highest paid player in the NHL.

And keep in mind this was pre-cap as well. Teams could spend as much as they want.

Edited July 2, 2008 by YoungGuns1340

[Cern 0]

AKA the best NHL player in the history of the sport

Exceptionally debatable. That said, Bobby Orr earned even less, and he wouldn't even accept payment by the time his career was just about over.

[Reds4Life 51]

In what sense? Economically speaking or in relation to the rest of the NHL? If you mean in the relation to the rest of the NHL, it only proves my point. If you mean in economic terms, you're also wrong. 6.5M in 1998 - when gretzky made 6.5M - that would be 8.5M in todays world. AKA the best NHL player in the history of the sport wouldn't even be the highest paid player in the NHL.

And keep in mind this was pre-cap as well. Teams could spend as much as they want.

American dollar has never been weaker. 6.5 in 1998 is at least 13, probably more, now. (Definitely in Europe).

Jagr made almost 100 million, the most in history, but Wayne Gretzky and Mario Lemieux surely earned more than that when endorsement deals and other business ventures are factored in.

Also Eddie Shore and other hockey legendes barely made few thousands..

Edited July 2, 2008 by Reds4Life

[zombiewing 3]

Also Eddie Shore and other hockey legendes barely made few thousands..

yeah, but they got to smoke in the locker room!

seriously, the most outrageous deal is the infamous Yashin/NY debacle. It was like paying some guy 10million a year to play video games,Nothing comes close.

Edited July 2, 2008 by zombiewing

[Doggy 130]

In what sense? Economically speaking or in relation to the rest of the NHL? If you mean in the relation to the rest of the NHL, it only proves my point. If you mean in economic terms, you're also wrong. 6.5M in 1998 - when gretzky made 6.5M - that would be 8.5M in todays world. AKA the best NHL player in the history of the sport wouldn't even be the highest paid player in the NHL.

And keep in mind this was pre-cap as well. Teams could spend as much as they want.

I'm pretty sure Gretzky's salary peaked before 1998 when he was at his worst. They expect the average salary to hit $2m this season, that's a pretty big jump from what it was back then at $1.1m.

So for the sake of the argument Gretzky (who wasn't close to the best NHLer in 1998) is getting paid $6.5m. In keeping in line with average player salaries it's closer to a $12m salary for Gretzky.

So I think you were comparing apples and oranges when criticising Redden's contract.

[jawbreaker 0]

Actually salary cap has lost his purpose. I think that a lot of teams are limited by the budged again. They should just set max. salary per year to one player (10M for example), and move forward without the cap.

[Nightfall 871]

Nothing compares to some of the dumb signings like the NY Islanders signing Yashin to that 10 year 100 million dollar contract.

As for contracts today, with the salary cap I am not as concerned with the long term survivability of the league right now like I was before the lockout. Players were getting paid way too much when you consider how much the league was making. At least now there is some cost certainty in place.

As for the fears of another lockout, you can count on one happening again. It has happened a few times in the last 20 years when it comes to hockey. If you consider the NBA and MLB, they had lockouts too. There was a shortened season back in 1993-1994 I believe. Then we had another lockout in 2003 that wiped out the season. When this contract is up, you can bet one side or the other will feel that changes need to be made and they will fight over them resulting in a shortened season at least.

[Opie 308]

IF the American Dollar starts to creep ahead of the Loony (sp) or gets a good deal a head of the loony like 3-4 years ago watch the salary cap plummet back to earth!

[BeeRYCE 2]

Jeff Finger to Toronto as far as I'm concerned was the most outrageous deal yesterday anyway. The Redden deal was second.

[b.shanafan14 733]

Why shouldn't they lure 'em in with big bucks and long-term deals? Look at the rate at which Players are being bought out of pricey/lengthy/stupid contracts this off-Season. They will soon be demanding an end to the Guaranteed Contract, thus ending the need to pay to buy a Player out of a mistake a GM/Owner made in signing them.

And if they don't get it, we can all watch the Owners lock the Players out, AGAIN, because they're "losing money, hand over fist! We can't survive! We can't compete! We need HELP! They're bleeding us DRY!!!"

And the fans will buy it, just like they did last time, hating the "greedy" Players for having the gall to make money. LOTS of money, for playing a GAME that most fans would play for FREE!

The NERVE of these greedy b@st@rds! They are RUINING hockey! Bring on the replacement Players, and watch the Owners lower ticket prices so EVERYONE can afford to go to games again! Bring 'em to their knees and force a hard Cap down their throats! THEN we'll get the Game back, and these crazy contracts, which are escalating out of control, will STOP!

Uh, yah.....

Rinse. Repeat.

My thoughts exactly. Its like the Red Wings are the only team working a conservative system of paying players, albeit out of neccessity and just plain good business sense. And the Wings are one of the teams that could work beyond the cap. Its ridiculus, ever since the lockout there have been these contracts where you just shake your head, the Finger and Huet signings especially this year. Its just escalating again, and the owners have noone but themselves to blame (except the Illitches, they can blame the other owners). When Wade Redden is coming off a few disappointing seasons and you give him the same pay check, right around what the Wings are paying Pavel Datsyuk (granted under huge discount) and Huet is making more then Martin Brodeur... and they wonder why players want more money?

[lets go pavel 2]

IF the American Dollar starts to creep ahead of the Loony (sp) or gets a good deal a head of the loony like 3-4 years ago watch the salary cap plummet back to earth!

yeah, that's what i was just wondering about ... suppose the economy tanks and revenues drop significantly ... i assume the salary cap would then drop ... so then what happens? would teams have to start buying players out of contracts, only to watch them turn around and sign elsewhere for less? would teams be able to renegotiate with their own players? seems like an incentive to actually leave some cap space unused just in case, although i guess every team has a few players they can do without ...

[toby91_ca 620]

6.5 million bucks today has maybe 1/3 value of 6.5 million when Gretzky earned it.

What are you talking about? For $6.5 million to be worth 1/3 of what it was 13 years ago (1995 lets say), it would suggest there has been average annual inflation of about 9%, when in fact, it's been less than 2%. Even using an aggressive 2% per year (even though a lot of years have been 1%, 1.4%, etc.) you are looking at $6.5 million back then being the equivalent $8.4 million these days, not $19.5 million.

The real reason player salaries are so much higher is because revenues are so much higher. There is no mystery here. In 1995, total NHL revenues were approximately $600 million. I believe they are closing in on $3 billion these days (500% increase vs. inflation of 29%).

I'm pretty sure that it is safe to say that players today are taking a lot less of the pie then they were back in 1995.

Edited July 2, 2008 by toby91_ca

[Reds4Life 51]

What are you talking about? For $6.5 million to be worth 1/3 of what it was 13 years ago (1995 lets say), it would suggest there has been average annual inflation of about 9%, when in fact, it's been less than 2%. Even using an aggressive 2% per year (even though a lot of years have been 1%, 1.4%, etc.) you are looking at $6.5 million back then being worth $8.4 million these days.

Ok for you perhaps, but Worldwide American dollar is going down very fast.

1 dollar Just over 15CZK now, 6 years ago it was 40+CZK. That simply means you could buy much more stuff for 6.5million few years ago than you can now. (practically in whole Europe, not just my homeland).

The real reason player salaries are so much higher is because revenues are so much higher. There is no mystery here. In 1995, total NHL revenues were approximately $600 million. I believe they are closing in on $3 billion these days (500% increase vs. inflation of 29%).

I'm pretty sure that it is safe to say that players today are taking a lot less of the pie then they were back in 1995.

I agree.

[egroen 384]

Jeff Finger to Toronto as far as I'm concerned was the most outrageous deal yesterday anyway.

No doubt. I am entertaining myself just by going around to different hockey forums and reading the Finger threads -- they are an absolute gold mine!

[Valas19 50]

I think the Islanders signing Rick DiPietro to a 15 year deal is pretty absurd. I don't think the salary figures were outrageous but for that length of time is insane.

Edited July 2, 2008 by Valas19

[egroen 384]

The Islanders have managed to put together many of the worst trades and signings in the history of the sport. You would almost think they exist solely to make the Rangers look not that bad.

[YoungGuns1340 1]

I'm pretty sure Gretzky's salary peaked before 1998 when he was at his worst. They expect the average salary to hit $2m this season, that's a pretty big jump from what it was back then at $1.1m.

So for the sake of the argument Gretzky (who wasn't close to the best NHLer in 1998) is getting paid $6.5m. In keeping in line with average player salaries it's closer to a $12m salary for Gretzky.

So I think you were comparing apples and oranges when criticising Redden's contract.

Gretzkys earliest public salary was 1.7M in 89-90. I have a hard time believing that Gretzky made over 6.5 earlier than that, and then didnt make anything close to 6.5M until nearly a decade later.

[jawbreaker 0]

No doubt. I am entertaining myself just by going around to different hockey forums and reading the Finger threads -- they are an absolute gold mine!

The Leafs should try to sign some Dman, whose name is Middle. Then they would have the best defensive pairing of all time.

[PaVel DaTsYuK fan13 0]

Jeff Finger to Toronto as far as I'm concerned was the most outrageous deal yesterday anyway. The Redden deal was second.

agreed. espeacially when you consider he signed for significantly more than Stuart.

[egroen 384]

... at least Lilja's trade value just went up!

Edited July 2, 2008 by egroen

[Canadian_Yzerman_Fan 7]

overpayments have usually been a result of desperate free agent signings.... but Bryan McCabe is a good example of a contract extension gone terribly wrong... the sad case of a player having a career year at the end of his contact and never playing up to that level since... 5.75M per year for 5 or 6 years plus signing bonuses, etc... and now its fun to watch how they can't trade him and dont want to take the hit of buying him out of the contract... about as funny as watching the isles buy out yashin's crazy contract last year