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GM Hockey » The other NHL teams » General Hockey talk » DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years

DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years

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Where will Kovalchuk end up?

DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_lcap250%DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_rcap2 50% [ 2 ]
DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_lcap225%DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_rcap2 25% [ 1 ]
DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_lcap20%DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_rcap2 0% [ 0 ]
DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_lcap20%DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_rcap2 0% [ 0 ]
DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_lcap20%DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_rcap2 0% [ 0 ]
DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_lcap225%DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Vote_rcap2 25% [ 1 ]
Total Votes : 4


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wprager

wprager
Administrator
Administrator

http://slam.canoe.ca/Slam/Hockey/NHL/NewJersey/2010/07/19/14756636.html

Presser this afternoon.

The Newark Star-Ledger reported terms of the contract, breaking down the pact year-by-year. He's due to earn $6 million in each of the next two seasons, $11.5 million from 2012-2017, $10.5 million the following year. The salary falls off after that until he makes $550,000 annually the final five years of the deal. He would be 44 years old when the contract concludes in 2027.


_________________
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wprager

wprager
Administrator
Administrator

The league has 5 days to approve the trade. $6M cap hit, he'll be making *below* the league minimum in the last five years (if $550k is not below now it will be soon). Yeah, this is a 12 year contract so $99.25M over 12 years -- $8.27M per year, average salary. No hope in hell he doesn't retire early, maybe even before it gets to the $550K years.


_________________
Hey, I don't have all the answers. In life, to be honest, I've failed as much as I have succeeded. But I love my wife. I love my life. And I wish you my kind of success.
- Dicky Fox

Cap'n Clutch

Cap'n Clutch
Co-Founder
Co-Founder

Lou Lam isn't dumb. It's probably not below the minimum salary as of the signing of the contract and since Lou helped construct some of the rules around the Cap then I suspect this one goes through without any issues.


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wprager

wprager
Administrator
Administrator

More than a third of the contract duration is at league minimum, after the player turns 39 -- an age by which (I'd guess) 90% of the long-term NHL players (those with 10+ years) retire. If this isn't the most blatant attempt to circumvent the cap, then I don't know what is.

But those are the rules they agreed to, so I don't see how the league will try to block it.


_________________
Hey, I don't have all the answers. In life, to be honest, I've failed as much as I have succeeded. But I love my wife. I love my life. And I wish you my kind of success.
- Dicky Fox

Cap'n Clutch

Cap'n Clutch
Co-Founder
Co-Founder

wprager wrote:More than a third of the contract duration is at league minimum, after the player turns 39 -- an age by which (I'd guess) 90% of the long-term NHL players (those with 10+ years) retire. If this isn't the most blatant attempt to circumvent the cap, then I don't know what is.

But those are the rules they agreed to, so I don't see how the league will try to block it.

Exactly. The rules allow for this so there really isn't anything the league can do at this point.


_________________
"A child with Autism is not ignoring you, they are waiting for you to enter their world."

- Unknown Author

Cap'n Clutch

Cap'n Clutch
Co-Founder
Co-Founder

What's funny is that the big money doesn't start coming until after the current CBA expires. Lou Lam may get himself out of paying those big dollars if the CBA negotiations get ugly and there's another Lock-out or Strike. Perhaps the league makes the players take another big pay cut on current deals?


_________________
"A child with Autism is not ignoring you, they are waiting for you to enter their world."

- Unknown Author

shabbs

shabbs
Hall of Famer
Hall of Famer

DGB had a hilarious comment yesterday:

http://twitter.com/DownGoesBrown/status/18930370234

"Spoiler alert for the NHL's Kovalchuk "investigation": No wrongdoing found, nothing to see here, so sorry to trouble you Mr. Lamoriello sir."

No doubt.

shabbs

shabbs
Hall of Famer
Hall of Famer

Capgeek.com have the details up as well now:

DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years Kovalchuk

Riprock

Riprock
All-Star
All-Star

Hold the phones, looks like the contract might not be approved by the NHL:

TSNRyanRishaug Acc to gord miller. Kovalchuks contract rejected by nhl for cap circumvention

asq2

asq2
All-Star
All-Star

Yeah, it's on the front page on TSN now too: "The NHL has rejected Ilya Kovalchuk's 17-year, $102 million contract on the grounds that it circumvents the NHL's salary cap."

DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years 235689

smash88

smash88
Veteran
Veteran

haha all that work building the most complicated contract, all for nothing...

I wonder why though? it didnt seem like it broke any rules

rooneypoo

rooneypoo
All-Star
All-Star

asq2 wrote:Yeah, it's on the front page on TSN now too: "The NHL has rejected Ilya Kovalchuk's 17-year, $102 million contract on the grounds that it circumvents the NHL's salary cap."

DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years 235689

Haha. Good. Gotta draw the line somewhere. 'Bout time they grew a pair.

dennycrane

dennycrane
Veteran
Veteran

Dean Lombardi is laughing quite hard now. I wish they had the stones to do this for Hossa, Richards, etc.

Riprock

Riprock
All-Star
All-Star

I think it was the Hossa, Pronger, and maybe Lecavalier, deals that were the most scrutinized. And yeah, this isn't good that the NHL decided to reject this deal and not those ones. Wouldn't be surprised to see NJ fight this.

Guest


Guest

Dash wrote:I think it was the Hossa, Pronger, and maybe Lecavalier, deals that were the most scrutinized. And yeah, this isn't good that the NHL decided to reject this deal and not those ones. Wouldn't be surprised to see NJ fight this.
The two most similar deals are Hossa and Lungo since they take the players to 42 and 43 respectively. I am willing to bet that if the Devils revise the contract to make the last 6 years 1M per year that the league would approve the deal, since it would look eerily similar to the other two deals that were accepted.

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