Islanders Buy Out Alexei Yashin

Fans....welcome to the "New" New York Islanders.
The Islanders will have a new Captain next season. In a stunning move that was well overdue....the team decided to buy out Alexei Yashin. The team still owe Yashin $17.6 million dollars....that they are required to pay him in equally monthly installments over the next 8 years. As a result of the buyout...the Islanders will take a $2.2 million cap hit for the next 8 seasons.
The move while to be hugely popular with fans, doesn't make much financial sense. Especially for a team that doesn't annually make much money, and now will be saddled with a $2.2 million cap hit for nearly a decade....The move will obviously will inject even more energy into a fan base that saw a resurgence with the hiring of Head Coach Ted Nolan, a stunning run to the playoffs....and the acquision of new fan favorite Ryan Smyth.
The biggest question now will be.....
What does this mean for the offseason.....
Well....a few things....
First, it could be either an amazing summer, or a nightmare. Best case scenario, Garth Snow resigns Ryan Smyth, and brings in Chris Drury and Sheldon Souray. Worst case scenario...Smyth signs elsewhere, Drury signs with the Flyers and our biggest free agent signing is Michael Peca. Either could happen. With the Isles now saving about $5 million dollars more than they would have had originally....the team has much more flexability. Do I think they could land both Drury and Souray....probably not....but it's not crazy to think about a Smyth and Drury situation, which would give Ted Nolan the 2 players who best display his penchant for clutch, gritty hockey. Both are students of the game and both would have the opportunity to lead this franchise back to greatness.
The move also means that the "C" is already sewn on Ryan Smyth's jersey if he so chooses to return. There is no doubt that he A. deserves it....and B. the team would be enthralled to have Ryan as their leader. As for Drury....the Islanders would be able to offer him a $6 million per year deal over 5 seasons. Drury no doubt knows the Island....(his brother Ted was an Islander during the lean years)...and knows the history of the franchise. Drury also got to experience the old barn during the playoffs with the Buffalo Sabres.
I know I know....lots of speculation....but now is the fun time....the Islanders will be heading into a talent rich free agent pool with almost $14 million dollars to spend, (that includes resigning their own free agents).
More to follow....I would love to hear some comments on the buyout and fan reaction