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Filed in: NHL Teams, New Jersey Devils, | KK Hockey | Permalink
  Tags: ilya+kovalchuk

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SYF's avatar

Bob McKenzie ‏@TSNBobMcKenzie 45m
3. Kovalchuk doesn’t get paid anything (by NJ) and Devils don’t get cap hit other than a modest $250K/year penalty for each of next 12 years

What?  Where does that $250,000 go?

Posted by SYF from The Revenge of Johnny E on 07/11/13 at 04:50 PM ET

Avatar

the cynic in me thinks that the delay until after the start of the UFA period was suggested by NJ. 
They get out from under a huge contract.
they know they are rebuilding so keeping him is a huge cost with no upside with the playoffs.
Its a contract they can’t trade.
the fans can’t blame them for letting clarkson walk since he’s already signed with the Leafs.

Posted by akwingsfan on 07/11/13 at 04:53 PM ET

Hootinani's avatar

What?  Where does that $250,000 go?

Posted by SYF from a squishy place on 07/11/13 at 05:50 PM ET

Its the cap recapture penalty that got put in place to punish all the extreme long term, back diving contracts signed before this CBA.  If a player retires before playing out all of the years on the contract, the team is penalized a portion of that contract in cap space for the remaining length of the contract, or something close to those lines.  The cap hit money doesn’t actually change hands, the team will just have a lower cap during that time.  Which, with the financial mess NJ is in, I dont think that they are going to worry about being a cap max team for awhile.

Posted by Hootinani on 07/11/13 at 06:04 PM ET

henrymalredo's avatar

Competitively, this kind of screws New Jersey in the short term, but knowing how loophole Lou operates, I wouldn’t be surprised if this has been discussed for awhile.

Posted by henrymalredo from Lansing on 07/11/13 at 06:26 PM ET

SYF's avatar

I get it.  It’s just another way to control cost.  I thought there was an actual money payout to a trust fund of some sort.  Okay, thanks.

Posted by SYF from The Revenge of Johnny E on 07/11/13 at 06:33 PM ET

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