Charles Wang made the decision yesterday to buy out the remaining 4 years on Alexei Yashin's contract...this cost them $17.63 Million. Wang is allowed to pay that over the next 8 years. $2.2 million will go against the salary cap over that time. In a statement Ted Nolan, coach of the Islanders said:
"It was a hard decision, but when push came to shove, it was the best decision for this organization to give Yash a nice, fresh start. For us, it's a new beginning. You start looking for new players to come in. There's a time for people to move, and we just felt it was the right time."
Article Found Here
Margee, has already begun rejoicing.