SIGNED! Islanders, Mathew Barzal Agree on 3-Year Bridge Deal

The long wait is over for fans, the New York Islanders, and Mathew Barzal.

The team and Barzal agreed to a new three-year contract on Saturday, per the Fourth Period’s Dave Pagnotta, who delivered the news.

Mathew Barzal’s three-year deal carries a $7 million AAV, according to PuckPedia. TSN’s Darren Dreger reported that Mathew Barzal will be paid $4 million in the first year, $7 million in the second year and $10 million in the final year of the contract.

The #Isles re-signed 23 y/o RFA C Barzal for 3 year $7M Cap Hit. On expiry, will be RFA w/ Arbitration rights, $8.4M Qualifying Offer, & 1 year from UFA Eligibility.

-19G 60P in 68GP
-Rep'd by JP Barry @CAAHockey https://t.co/tSffuqOCfN

— PuckPedia (@PuckPedia) January 9, 2021

The news is a welcomed relief to Islanders fans who had been waiting with bated breath after weeks of negotiations between the two sides. Training camp opened earlier this week without the Islanders’ star player on the ice.

However, his absence didn’t concern teammates, who expressed confidence that a deal would be worked out in short order.

Barzal was on the ice for the first time with his teammates on Saturday morning, just after news of the new contract had broke. Making up for lost time, Barzal scored twice in the Islanders’ third scrimmage of training camp, Andrew Gross reported.

Highlights from today’s scrimmage 🤩 pic.twitter.com/IfprVedidd

— New York Islanders (@NYIslanders) January 9, 2021

Part of the holdup for the deal had been the Islanders’ complicated financial situation. General manager Lou Lamoriello had reportedly been working to try and move some pieces to free up more cap space.

The Islanders had been working with $3.09 million in free cap space.

With Mathew Barzal now agreed to a new deal, the Islanders are now $3.09 million projected over the salary cap with a 21-man roster and Johnny Boychuk’s $6 million cap hit, according to PuckPedia.

With Barzal signed ($7M Cap Hit), #Isles are $3.09M Projected over Cap w/ 21 Active on Roster + Boychuk ($6M).

Most likely way to set LTIR pool is sign Martin ($1.5M?) & add 1 more ~ $1M to Roster =$5.6M over Cap, which would be LTIR pool for year.https://t.co/W1JRApCWFe

— PuckPedia (@PuckPedia) January 9, 2021

The Islanders could still make a move before Tuesday when they need to become cap compliant to start the season.