Kukla's Korner Hockey
by Paul on 07/20/10 at 10:31 PM ET
via Nick Kypreos tweet,
Word I’m hearing is the league has rejected Kovalchuk 17 year NJ contract… Stay tuned….
added 9:34pm, via Ryan Rishaug tweet,
Acc to gord miller. Kovalchuks contract rejected by nhl for cap circumvention
added 9:40pm, Tom Gulittie tweets,
Devils owner Jeff Vanderbeek says he had not heard anything about contract being rejected.
GM Lou Lamoriello declined comment.
added 9:41pm, Another Kypreos tweet,
NHL deems Kovy contract “a retirement contract”. Says it “artificially drops cap hit”. Also states its too overloaded the first 10 yrs
added 9:42pm, Gulitti with another tweet,
I can confirm, via a source, that Kovalchuk contract has been rejected
added 9:57pm, John Shannon tweets,
contract is viewed as a circumvention of the CBA…contract would have to be restructured and re-filed.
added 10:03pm, via TSN,
The NHL has rejected Ilya Kovalchuk’s 17-year, $102 million contract with the New Jersey Devils on the grounds that it circumvents the NHL’s salary cap.
Kovalchuk was slated to earn $95 million over the first 10 years of the deal and then just $7 million over the last seven seasons. That would translate to an annual cap hit of $6 million per year.
added 10:29pm, via Darren Dreger tweet,
If the NHLPA grieves the leagues decision, the contract remains dead until an arbitrator decides otherwise.
added 10:46pm, via James Duthie tweet,
Best guess: Devils/Kovy could restructure, but agents I spoke to figure Kovy likes his deal just the way it is, and will ask PA to grieve.
Add a Comment
Please limit embedded image or media size to 575 pixels wide.
Most Recent Blog Posts
About Kukla's Korner Hockey
Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.
Email Paul anytime at email@example.com