Posts Tagged ‘Ilya Kovalchuck’

End to Kovalchuk Saga

Thursday, September 9th, 2010


The NHL story of the summer has finally come to an end. Ilya Kovalchuk has signed a deal with the New Jersey Devils (for the second time this summer). And unlike the first contract, this $100 million, 15 year deal has been approved by the NHL. Now he can finally put the contract negotiations behind him and get prepared for the Devil’s first game against the Dallas Stars.

The first Kovalchuk deal with the NJ Devils was not approved by the NHL on grounds that it deliberately circumvented the league’s salary cap. It was a 17 year $102 million contract, with Kovalchuk receiving just under 80 percent ($80 million) in the first 7 years. In the new deal Kovalchuk will be paid $93 million up until the 2023-2024 season. Though the differences in amount between the two contracts may seem small in perspective, the major difference will by felt in the New Jersey Devils salary cap. (more…)

NHL to Investigate Luongo and three Other Contracts

Tuesday, August 10th, 2010

Canucks Roberto Luongo's contract will be reviewed by the NHL

Canucks Roberto Luongo's contract will be reviewed by the NHL

On Monday, NHL arbitrator Richard Block deemed the NHL was justified in rejecting Ilya Kovalchuck’s 17 year $102 million contract with the New Jersey Devils.

In the aftermath, there has been significant discussion about other, similar front-loaded and the NHL has stated that other controversial contracts will be up for review. Long term deals that continue paying high salaries long after a players peak performance years are becoming more and more popular in the NHL as a way to circumvent the league’s salary cap.

Specifically named in Block’s report have been: Vancouver Canucks Robert Luongo, Chicago Blackhawks Marian Hossa, Philadelphia Flyers Chris Pronger and Boston Bruin‘s Marc Savard.

Mike Gillis, Vancouver Canucks‘ general manager has said that the league will (more…)

Breaking News: Decision on Kovalchuk Contract

Monday, August 9th, 2010

Ilya Kovalchuk

Ilya Kovalchuk

It has been reported that NHL mediator, Richard Block, has sided with the NHL and against the NHLPA’s suite filed for Ilya Kovalchuk.

The controversial, 17-year, $102 million contract with the New Jersey Devils went to arbitration after the NHL rejected the front loaded nature of the contract. The league initially denied the contract, stating it circumvented the salary cap. At the heart of the issue were the final five years, paid at the salary cap minimum of $550,000 and having the contract expire when Ilya Kovalchuk was 44 years old (contract details). (more…)

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