Michael Grabner Signs 5 Years with Islanders

The New York Islanders have signed Michael Grabner to a five year extension. The contract is worth $15 million, a cap hit of $3 million per year. Grabner was waived this year by several NHL teams before he ended up having a breakout season with the Islanders, scoring 34 goals. There is a risk involved signing this unproven player to five years. The contract is worth it for the Islanders if Grabner can repeat his performance in 2011-2012.