What was the reported value of Gretzky's 1978 personal-services contract?

The reported value of Gretzky's 1978 personal-services contract was US$1.75 million.

On June 12, 1978, 17-year-old Wayne Gretzky signed with the Indianapolis Racers of the World Hockey Association. The seven-year agreement was structured as a personal-services contract rather than a conventional player contract, partly because the WHA's future was uncertain and Gretzky was still under the NHL's minimum signing age.

Gretzky played only eight games for Indianapolis before the financially troubled Racers transferred him to the Edmonton Oilers. The move helped preserve his professional career and placed him with the organization that would soon enter the NHL. He became eligible for the NHL when the Oilers joined the league for the 1979–80 season.

A common mix-up is confusing this deal with Gretzky's later contract arrangements. On his 18th birthday in 1979, he signed a separate, much longer personal-services agreement with Oilers owner Peter Pocklington. The 1978 figure specifically refers to the original WHA deal arranged by Racers owner Nelson Skalbania.