On draft day, 2001, Yashin was sent to the New York Islanders in exchange for defenceman Zdeno Chára, forward Bill Muckalt and the second overall draft selection, which the Senators used to draft highly touted centre Jason Spezza. Islanders' general manager Mike Milbury promptly re-signed Yashin to an enormous ten-year, $87.5 million contract. Although his contract was reduced by 24% due to the new NHL Collective Bargaining Agreement (CBA) signed in 2005, Yashin was widely considered to be grossly overpaid and virtually untradeable.