UPDATE PT.2: Kovalchuk (NHL VOIDS CONTRACT W/NJ)

[Leedog]

http://www.hockeybuzz.com/blog/Andy-Str ... wn/5/29413

Strickland is reporting the breakdown. Where the NHL went wrong, compared to the NFL, is allowing a guy to retire in the last years of a deal like this, and the team doesn't take the cap hit in those years. In other words, if this was an NFL deal, the Devils would have that $6 mil hit for all 17 years regardless of how many he actually plays.

[DaDitka]

Here's the figures on Kovy's deal.......


Ilya Kovalchuk's blockbuster 17-year contract with the Devils is finally complete and approved by the NHL.

Here are the details of the deal, which has been filed with the NHL and NHL Players' Association:

2010-11: $6 million
2011-12: $6 million
2012-13: $11.5 million
2013-14: $11.5 million
2014-15: $11.5 million
2015-16: $11.5 million
2016-17: $11.5 million
2017-18: $10.5 million
2018-19: $8.5 million
2019-20: $6.5 million
2020-21: $3.5 Million
2021-22: $750,000
2022-23: $550,000
2023-24: $550,000
2024-25: $550,000
2025-26: $550,000
2026-27: $550,000

[SteveO]

That's awesome.

I wonder how many Blues fans are bitching about "We should have done the same thing!!!1111"

I haven't checked the asylum yet, are they still whimpering??

[fargoblues]

Super weak.

And for those who swear up and down that the Blues have never made a FA splash by getting a player in their prime at top dollar, they did. His name was Brendan Shanahan. And the league took a major shit on them for doing it too (remember Scott Stevens, anyone?).

Now I'm pissed all over again. (Frank) Lou Lamarillo and the whole state of New Jersey. Asshole.

[WaukeeBlues]

The fact of the matter is that you still have to have an owner willing and capable of spending- in this case- almost $12 million for a player while still spending to the cap on other players anyway.

The Blues do not have that kind of financial stability to commit to paying someone almost $12 million a year for several years irregardless of whatever "bargain" they got by doing it in the back-door NHL CBA fashion.

And that contract is just ridiculous. That's the worst one yet. All the other ones were relatively okay. Hossa's making $7.9 but only costing his team in the $6 range IIRC. Franzen has the last 2-3 years of his deal paying $1 million; years he might feasibly play. But I've NEVER seen something like this which is the most blatant effort to date of skewing the CBA in order to pay someone basically double what your cap hit is. Kovy is now easily the highest paid player in the league now. Whatever.

[DaDitka]

Let's see how that contract looks when you're paying in a real 10.5 mill at the age of 35.

Hell, that's 80 mill over the first 8 years!

[Ruutu15]

And the NHL says NO!

http://tsn.ca/nhl/story/?id=328025

[abc789987]

And the NHL says NO!

http://tsn.ca/nhl/story/?id=328025

About time they put their foot down...

[Ruutu15]

And the NHL says NO!

http://tsn.ca/nhl/story/?id=328025

About time they put their foot down...

Well, I have mixed feelings about this. Unless there's specific language in the CBA that prohibits this, I don't see how the NHL can complain about this agreement. Just like in any system, the good GM's find ways to stretch the rules. In my opinion, "the spirit of the CBA" doesn't mean anything unless you're referring to specifics that both the NHL and NHLPA agreed to when they signed the CBA.
To me, this is something that the NHL should address at the conclusion of the current CBA, but until then, I think they have to honor the specific language of the CBA that they initially agreed to.

[Winning Unlimited]

The NHL has Rejected the Kovalchuk contract, per TSN.

http://tsn.ca/nhl/story/?id=328025

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.

The 27-year-old rejected a $101 million, 12-year extension from the Atlanta Thrashers before being dealt to the Devils in February.

Kovalchuk had 41 goals and 44 assists last season, including 10 goals and 17 assists with the Devils.

[Nyghtewynd]

Unless I hear a reason why the NHL can legally do this, it's just Bettman being random and petty again.

[Winning Unlimited]

I dusted off the good ole' '05 CBA. From page 221,

*SPC=Standard Player Contract

Accounting for New SPCs in Actual Club Salary and Averaged Club Salary. For any newly executed SPC agreed to between a Club and a Player, the Averaged Amount of Player Salary and Bonuses provided for in such SPC shall commence counting against a Club's Averaged Club Salary upon the approval and registration of the SPC with the League. For purposes of determining a Club's Actual Club Salary and Averaged Club Salary, a rejected or de-registered SPC shall be treated in accordance with Article 11 of this Agreement.

Article 11...

If an SPC or an Offer Sheet is rejected: (A) because it results in the signing Club exceeding the Upper Limit, or (B) because it does not comply wit h the Maximum Player Salary or (C) because it is or involves a Circumvent ion of either the Club's Upper Limit or the Maximum Player Salary, and:

(Edited for quote spacing, and added article section 11.6, subsection a, subsubsection i, p 42. Also, bolded key parts.)

The NHL has the option of rejecting contracts.

[Winning Unlimited]

Direct link to download the 2005 CBA.

http://www.nhl.com/cba/2005-CBA.pdf

Source on NHL.com for CBA abstract

http://www.nhl.com/ice/page.htm?id=26366

[Winning Unlimited]

I can just imagine 29 other teams just tossed up confetti to the sound of vuvuzelas.

[JPonder94]

I can just imagine 29 other teams just tossed up confetti to the sound of vuvuzelas.

Its just a shame they hadn't already traded Parise or Zajac to make room for Kovie...

[Winning Unlimited]

I can just imagine 29 other teams just tossed up confetti to the sound of vuvuzelas.

Its just a shame they hadn't already traded Parise or Zajac to make room for Kovie...

[Hallplante]

Kovy's rejected deal could end up in arbitration.

If the arbitrator rules in favor of the NHL, it can fix the deal to conform to spirit of CBA. Devils would then end up with a much higher annual cap hit than desired.

Then, just maybe, Blues fans could have the last laugh for the Scott Stevens arbitration fiasco. ... Nah, that wouldn't be good enough, but it would be fun to see Lou squirm.

[WaukeeBlues]

That's awesome.

It's one thing to sign a guy to a contract that he could feasibly play, and the difference in the max salary to the cap hit is like $2 or $3 million.

It is quite another to sign a guy to a contract that, with 99% certainty will have anywhere from 3-6 years of it bought out, and the max salary to the player is double what the cap hit is.

For once, FOR ONCE, I agree with the NHL execs on this one.

[WaukeeBlues]

As a side note, Kovalchuk's agent is reportedly searching for the nearest loaded firearm.

[fargoblues]

Of course you know, if this was Detroit, the league would have approved the contract and congratulated the Wings for thinking outside the box.