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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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wprager
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Where will Kovalchuk end up?

DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years - Page 10 Vote_lcap250%DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years - Page 10 Vote_rcap2 50% [ 2 ]
DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years - Page 10 Vote_lcap225%DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years - Page 10 Vote_rcap2 25% [ 1 ]
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DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years - Page 10 Vote_lcap20%DEAL VOIDED BY ARBITRATOR! Kovalchuk re-signs in Jersey: $102M over 17 years - Page 10 Vote_rcap2 0% [ 0 ]
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wprager


Administrator
Administrator

Rumour has it the deal will be approved. Caphit of the Beast, here we come.

shabbs


Hall of Famer
Hall of Famer

I assume the "drop off" at the end is less severe now. 15 years takes him to 42 instead of 44 previously. Not a huge change.

SensGirl11


Mod
Mod

It could all be over today.

The NHL has until 5pm Eastern to render a verdict on the latest contract offer between the New Jersey Devils and Ilya Kovalchuk. The league must either approve the 15-year, $100 million deal or reject it.

If the NHL turns it down, it would be the second time a long-term deal between Kovalchuk and the Devils had been rejected. The NHLPA would then have another five day window to file a grievance, something they did once before when the league chose not to allow the original 17-year, $102 million contract the Devils gave the Russian sniper.

If the NHL chooses to reject the deal, then the very real possibility exists that Kovalchuk will sign in the KHL, likely with SKA St. Petersburg which is believed to have offered Kovalchuk an enormous deal to return to his homeland to play. Kovalchuk's agent has made it clear that if his client signs in Russia, he will remain there for at least one full season.

Should the NHL allow the contract then the Devils will have to quickly shed about $3 million to get under the league's mandated salary cap of $59.4 million.

Even if the deal is accepted, the possibility also exists that the Devils could be fined or penalized for their role in the saga.

The sticking point of the original rejected deal appeared to be front loading of the contract and the length of the deal. The league has stated that they believe the Devils deliberately circumvented the cap and that the Devils did not expect Kovalchuk to play out the entirety of the deal. The now 27-year old would have been 44-years old when the deal expired and would have been playing for the league minimum. Under the terms of the new deal, Kovalchuk would instead be 42-years old when the contract expires, earning a base salary of $4 million in his final year.

The former Rocket Richard trophy winner had 41 goals and 44 assists in 76 games last season, split between the Devils and the Atlanta Thrashers.

SensGirl11

SensGirl11
Mod
Mod

Soooo...what's the news on this? Anyone know?

SensGirl11

SensGirl11
Mod
Mod

The Ilya Kovalchuk waiting game continues with an increasing risk the NHL could lose one of its best players.

With a threat the free-agent winger will bolt for the Kontinental Hockey League in his native Russia if the NHL doesn’t accept his 15-year, $100-million US contract with the New Jersey Devils, the league and players’ union have moved the deadline to agree to or reject the deal to Friday.

League sources say they’re not sure why Wednesday’s 5 p.m. deadline was extended, but Sportsnet’s Nick Kypreos reported that incoming union head Donald Fehr may have held talks with NHL commissioner Gary Bettman to get the situation resolved.
The Devils and Kovalchuk were forced to go back to the drawing board after arbitrator Richard Bloch threw out a front-end-loaded 17-year, $102-million deal last month.

Bloch sided with the NHL, which argued that deal circumvented the salary cap. Kovalchuk would have made the vast majority of the money in the first 11 years, then had his salary fall below $1 million in the final years of the contract to allow for an annual cap hit of $6 million.

Now there’s a belief Bettman is concerned that one of the league’s premier players could jump ship.

“We remain confident that the terms of this contract comply with the CBA and meet both the NHL’s concerns and the principles of (Bloch’s) decision,” said Devils GM Lou Lamoriello in a statement.
“We remain optimistic that this extension will result in an approval of the contract and that Ilya Kovalchuk will remain a valuable member of the Devils for the balance of his career.”

League sources say the Kovalchuk decision isn’t “just about him” because “the structure of the contract is going to go a long way in deciding what is going to happen with the other deals being investigated.”

The NHL is still studying the contracts of Philly’s Chris Pronger, Chicago’s Marian Hossa, Boston’s Marc Savard and Vancouver’s Roberto Luongo. All have payouts similar to the way Kovalchuk is supposed to receive his money.
The NHL has been “investigating” most of the other deals for more than a year, but hasn’t been getting any co-operation from the union nor the agents who negotiated them. That’s why there’s a sense the Kovalchuk decision is taking time.
Neither side wants this to be an issue in negotiations for the next collective bargaining agreement.
“There is something bigger at work here,” said one league executive. “Perhaps they want to get all these deals resolved at once, so that the league and the players can put all this uncertainty behind them.”
If — and when — the Kovalchuk deal is approved, the Devils will have to shed salary to get under the salary cap. The club has been shopping defenceman Bryce Salvadore and forward Dainius Zubrus. Some teams have called about forward Travis Zajac.
Zubrus, 32, who has a cap hit of $3.4 million and Salvadore, 34 ($2.9 million), are both marketable commodities. Zajac ($3.888 million) is 25 with plenty of potential. It doesn’t make sense for the Devils to move him at this point.
It also doesn’t make sense to allow the Kovalchuk situation to fester, according to a high-profile agent.
“I have a hard time believing that if they’ve asked for an extension, they’re not going to get something done,” said the agent. “They can’t allow this to drag on much longer. Both sides want it settled.”

PKC

PKC
All-Star
All-Star

Pretty interesting turn of events:

http://tsn.ca/nhl/story/?id=332412

Specifically this part:

The Post reported that the NHL had told the NHLPA that it would grandfather the Kovalchuk, Luongo and Hossa deals under two conditions:

1. "That the cap hit on future multi-year contracts will not count any seasons that end with the player over 40 years of age. The cap hit would be calculated on the average of the salary up through age 40 only."

2. "That the cap hit on future contracts longer than five years will be calculated under a formula granting additional weight to the five years with the highest salary."

If the NHLPA does not accept these, the Post reported that the NHL would reject the Kovalchuk contract, start the process of doing the same to Luongo's deal, and open an investigtion in the Hossa deal.

shabbs

shabbs
Hall of Famer
Hall of Famer

There is no way the NHL can issue that ultimatum, that would warrant a change to the CBA and cap hit calculations. I smell a bogus rumour.

SeawaySensFan

SeawaySensFan
Franchise Player
Franchise Player

shabbs wrote:There is no way the NHL can issue that ultimatum, that would warrant a change to the CBA and cap hit calculations. I smell a bogus rumour.

The NHL is just emboldened by the flawed arbitrators decision. They will try just about anything unilaterally now and that will eventually spark a labour dispute.

shabbs

shabbs
Hall of Famer
Hall of Famer

Man, we're headed for a lock out for sure.

PTFlea

PTFlea
Co-Founder
Co-Founder

Holy Dung, this is getting very serious.

SeawaySensFan

SeawaySensFan
Franchise Player
Franchise Player

When you start voiding contracts that were negotiated in good faith and approved by the league you're asking for a Dung. I'm surprised the PA has played ball for this long, actually.

PTFlea

PTFlea
Co-Founder
Co-Founder

SeawaySensFan wrote:When you start voiding contracts that were negotiated in good faith and approved by the league you're asking for a Dung. I'm surprised the PA has played ball for this long, actually.

There's nothing they can do with Kovalchuk, but I agree, if the NHL starts opening up the Luongos, Hossas etc. there will a HUGE issue.

wprager

wprager
Administrator
Administrator

Their rules as to how much the salary can decline are plain stupid. Just add this little rider in:

- The annual salary (including bonuses) in any year of the contract cannot be less than half of the highest annual salary (including bonuses) in the contract.

You want to pay someone $10M, then don't pay him less than $5M in any other year.


_________________
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.
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SensGirl11

SensGirl11
Mod
Mod

SeawaySensFan wrote:When you start voiding contracts that were negotiated in good faith and approved by the league you're asking for a Dung. I'm surprised the PA has played ball for this long, actually.

Yeah, this is going open a whole can of worms that don't need to be opened. What's done is done, IMO. They will be asking for trouble if they start to void other contracts. Use this as your first example and let it be. No other deals like those will be approved by the NHL. It sucks for Kovalchuk & co, but they're really pushing it with the deal. It's not structured the same as the others at all.

wprager

wprager
Administrator
Administrator

DownGoesBrown's take on things:

A behind-the-scenes look at the Kovalchuk negotiations


_________________
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

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