NY Islanders Sign Michael Grabner to Five-Year Extension

The New York Islanders announced on Friday that they have signed left wing Michael Grabner to a five-year contract extension worth $15 million. The deal will pay him $1 million in 2011-12, $2 million in 2012-13, $3 million in 2013-14, $4 million in 2014-15, and $5 million in 2015-16. The 23-year-old left winger, who is a finalist for the Calder Trophy this year as rookie-of-the-year, would have been eligible for restricted free agency on July 1. Grabner was claimed off waivers by the Islanders from the Florida Panthers this past October. He was acquired by the Panthers last summer from the Vancouver Canucks along with Steve Bernier and a first round pick in the 2010 Entry Draft in exchange for Keith Ballard and Victor Oreskovich. In 76 games this past season with the Islanders, Grabner had 34 goals and 18 assists for 52 points. This is a decent signing for the Islanders, as Grabner had a very impressive rookie season for the rebuilding team. He's a fast skater, a great goal-scorer, and has lots of offensive potential. He should be an excellent scorer for the Islanders for years to come and will be an important piece on offense as they continue to rebuild their team.