Isles ink Grabner to new 5-year deal

The New York Islanders capped a busy week by announcing a new 5-year commitment to Calder Trophy nominee Michael Grabner. The deal is reportedly worth $15 million, which would come in at a reasonable cap hit of $3 million per year. The Islanders, along with Nassau County, also announced plans for a new arena earlier this week.

The payment plan for Grabner, via Pierre LeBrun of ESPN:

Grabner was a first round (16th overall) pick by the Vancouver Canucks back in 2006. He was traded to the Florida Panthers on June 25th along with Steve Bernier and a first round pick (Quinton Howden) in exchange for Victor Oreskovich and defenceman Keith Ballard. In what was arguably the biggest brain fart of the year, Dale Tallon and the Panthers opted to place Grabner on waivers in hopes of sending him to the minors to work on his game. The Islanders plucked Grabner off of waivers and the rest is history in the form of a 34-goal rookie season.

All of a sudden there’s multiple reasons for optimism on Long Island, what with the potential for a new building and the Grabner deal.

General manager Garth Snow will be busy in the coming weeks as he has several notable RFAs that he’ll need to prepare offers for, including Kyle Okposo, Josh Bailey, Ty Wishart, and Blake Comeau.