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.
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