BREAKING: NHL Rejects Kovalchuk Deal
Various sources, via Twitter, are reporting that the NHL has rejected the 17 year, $102 million deal that Ilya Kovalchuk has signed with the New Jersey Devils for blatant salary cap circumvention. The deal would have paid Kovalchuk $92 million within the first 10 years of the deal, with the rest of the contract paid out to bring the salary cap hit down. More details later.
By Jeremy, July 20, 2010 @ 10:04 pm
Wow. Just wow
By irishapple21, July 21, 2010 @ 12:02 am
Good. Teams like NJ need to learn that you can’t build a superclub under salary cap rules.
By jurgenno88, July 21, 2010 @ 3:56 am
This is outstanding news. Will have seriously damaged Lamoriello’s close relationship with Bettman too, i’d have thought. LL needs to realise he cant have everything his own way.
The contract was disugsting. League minimum for the final X years? cheating the cap – simple, especially when the few final years salary would have been udner cap minimum and thus making the deal irregular.
By Brian, July 21, 2010 @ 9:09 am
No doubt that Kovy’s contract is ridiculous, but how is this different than Hossa’s or Pronger’s? The NHL did the right thing here but the precedent for these contracts has already been set.
What do the Devils do now? They have to sign the guy now or it would crush the fans and organization and make the Devils and Kovy look like fools. But it will be at a higher cap hit which is good for us. Really surprised that Lamoriello signed the deal in the first place – not like him.
Dave Reply:
July 21st, 2010 at 9:18 am
Hossa / Pronger don’t have contracts until they are 44, and they didn’t have 5 years of NHL minimum salary. I think that’s the difference.
It’s a marginal case at best.
By Dave, July 21, 2010 @ 9:15 am
The contract will probably be restructured to have $1 million salaries at the end of the deal, instead of the $550k years. As the years progress, NHL minimum salary will rise, thus a blatant hole in the contract.
jerry Reply:
July 21st, 2010 at 10:34 am
i agree they will get a deal done to save face and not let kovi go.theres no way he just walks away now.
By LOLDave, August 10, 2010 @ 6:44 pm
Hopefully you take my advice, Dave. You’re not an expert by any means, so stop acting like one. I’m not shocked that you deleted my comment. Very “Orwellian” of you.
By LOLDave, August 10, 2010 @ 6:45 pm
Wait, wrong post. LOLLOLDave?