Categories
Hockey

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 Adam Heitner, Esq., is a preeminent sports attorney and the founder of Heitner Legal, P.L.L.C., a Fort Lauderdale-based law firm specializing in sports law, contract negotiations, intellectual property, and arbitration. He earned his Juris Doctor from the University of Florida Levin College of Law in 2010 and a Bachelor of Arts in Political Science, magna cum laude, from the University of Florida in 2007, where he was named Valedictorian of the College of Liberal Arts and Sciences. Admitted to practice in the state bars of Florida, New York, and the District of Columbia, as well as multiple federal courts, Darren also serves as a certified arbitrator with the American Arbitration Association.

As an adjunct professor, Darren imparts his expertise through teaching Sports Law at the University of Florida Levin College of Law and Name, Image, and Likeness (NIL) at the University of Miami School of Law in the Entertainment, Arts, and Sports Law LL.M. program. His scholarly contributions include authoring several books published by the American Bar Association, such as How to Play the Game: What Every Sports Attorney Needs to Know, and numerous articles in prominent publications like Forbes, Inc. Magazine, and Above the Law. His thought leadership in NIL has earned him recognition as one of the foremost experts by The Wall Street Journal, USA TODAY, and On3, and he has been lauded as a “power player in NIL deals” by Action Network and a “top sports trademark attorney” by Sportico.

Darren’s passion for sports law led him to establish Sports Agent Blog on December 31, 2005, initially titled “I Want To Be A Sports Agent.” The platform, created as a New Year’s resolution, has grown into a cornerstone of the sports agency community, offering in-depth analysis of industry trends, legal disputes, and agent-player dynamics. His commitment to the field is further evidenced by his representation of numerous athletes and sports agents, as well as his prior role as an Adjunct Professor at Indiana University Bloomington, where he developed and taught a course on Sport Agency Management from 2011 to 2014.

Darren’s contributions have been recognized with prestigious honors, including the University of Florida’s 40 Under 40 Award, the University of Florida Levin College of Law’s Outstanding Young Alumnus Award, and designation as the best lawyer in Fort Lauderdale by Fort Lauderdale Magazine. He remains an active voice in the sports law community, sharing insights through his weekly NIL newsletter and his X posts, engaging a broad audience on legal developments in sports.

One reply on “A Hockey Player Really Just Signed A $124 Million Extension?”

Comments are closed.