Finnish clubs cash in on Latvian hockey talent Alberts Šmits' path to NHL
Latvian hockey player Alberts Šmits will try to break into the NHL this autumn, while the Finnish clubs that trained him have received financial compensation. He was picked fifth overall in June's draft by the New York Rangers.
Eighteen-year-old Latvian hockey player Alberts Šmits will attempt to earn a spot in the National Hockey League (NHL) this coming season. At June's NHL draft, he was selected fifth overall by the New York Rangers, with whom he signed a three-year contract. Including potential bonuses, the total value of the deal exceeds 12 million dollars.
Payouts for Finnish clubs
The Finnish hockey clubs that helped develop Šmits before his move to North America have also benefited financially from his rise. The club Karhu-Kissat received 157,500 dollars in compensation for the Latvian player. An even larger sum, 197,500 dollars, went to Jukurit, the club where Šmits made his debut in Finland's top league and drew significant attention from NHL scouts.
Such compensation arrangements are common practice when young players move from European clubs to North American professional hockey, allowing developmental clubs to also gain financially from their players' later success.
