The New York Islanders signed UFA winger Bill Guerin to a two-year, $9 million contract. 

You read that right, folks: two years, $9 million.

Islanders GM Garth Snow was desperate to replace several key forwards that departed via free agency on July 1st, and I can certainly understand why he was interested in Guerin. I can even understand the willingness to overpay for a soon-to-be 37 year old winger who scored 36 goals last season split between the moribund St. Louis Blues and the playoff-bound San Jose Sharks, even if he did come up small in 9 playoff games with the Sharks.

But there's overpaying, and then there's overpaying far too much, and that's what Snow and the Islanders have done here.

They're hoping - heck, probably praying - that Guerin will pot 30 goals a season over the next two years, but surely to heavens they didn't have to pay $4.5 million per season for that gamble.

There's no question that Guerin's stock likely rose as this week progressed and the top UFAs were snapped up quickly, but again, he's an aging winger and not worth that kind of contract.

But when you're desperate like the Islanders, and have the cap space to spare, you happily pay it and hope that his play will justify that salary.