A Hockey Player Really Just Signed A $124 Million Extension?

OvechkinGoing through all the news I missed while gone on my trip to Las Vegas, I could not help but look twice at a few headline that reads, Ovechkin, Capitals signs 13-year, $124 million contract extension. The first thing that popped into my non-hockey head was the story I ran on Rick Dipietro who signed a 15-year, $67.5 million deal with the New York Islanders in September of 2006. Back then, fans of the sport were screaming bloody murder. A poll showed that only 7.1% thought it was a good deal for the Islanders. I wonder if people will think differently about the recent move by the Capitals after its $124 million deal with Ovechkin, making him the first NHL player to have a 9 figure contract (Dipietro still holds the record for longest term of an NHL contract).

Whether you like the deal or not, Ovechkin is happy with the terms of the agreement, and he negotiated the whole contract all by himself. Not bad considering that he is only 22 years old and hails from Moscow, Russia. Ovechkin may have received a contract to his liking, but perhaps he should look into acquiring an agent for other purposes such as endorsements, public relations, etc. At least Alexander does not have to deal with a situation like the agent-less Daunte Culpepper went through.

By Darren Heitner

Darren Heitner created Sports Agent Blog as a New Year's Resolution on December 31, 2005. Originally titled, "I Want To Be A Sports Agent," the website was founded with the intention of causing Heitner to learn more about the profession that he wanted to join, meet reputable individuals in the space and force himself to stay on top of the latest news and trends.

Heitner now runs Heitner Legal, P.L.L.C., which is a law firm with many practice areas, including sports law and contract law. Heitner has represented numerous athletes and sports agents as legal counsel. He has also served as an Adjunct Professor at Indiana University Bloomington from 2011-2014, where he created and taught a course titled, Sport Agency Management, which included subjects ranging from NCAA regulations to athlete agent certification and the rules governing the profession. Heitner serves as an Adjunct Professor at the University of Florida Levin College of Law, where he teaches a Sports Law class that includes case law surrounding athlete agents and the NCAA rules.

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