Ilya Kovalchuk's re-worked contract with Devils to be approved
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Ilya Kovalchuk's re-worked contract with Devils to be approved
annwang Sat Sep 04, 2010 6:07 am
UPDATE: Per NHL.com: "Don't read into the fact that no other extension was announced after 10 p.m. As far as I know the sides are still working on something."
UPDATE: Still in wait and see mode all. [url= www.2009allstar.com]Hockey jerseys[/url]
UPDATE: Nothing yet, but I talked to a league source who said it should get done in this hour.
UPDATE: Now looking at 10 p.m. for the record.
UPDATE: My guess is they want to keep us here all night. 9 p.m. now according to NorthJersey.com.
UPDATE: Make it 8 p.m.
UPDATE: The 5 p.m. deadline has been extended to 7 p.m., according to NHL.com.
The arduous Ilya Kovalchuk saga has finally come to a conclusion. And Kovalchuk will be spending the next 15 seasons with the New Jersey Devils.
Kovalchuk's agent, Jay Grossman confirmed in an e-mail to the Associated Press that his re-worked 15-year, $100 million contract with the Devils will be approved by the league as part of a revised agreement between the National Hockey League and the NHL Players' Association.
Reports say that the league and the union have come to terms on an amendment to the NHL’s Collective Bargaining Agreement that will address the myriad issues raised by excessively long-term contracts.
According to a person who requested anonymity because he is not authorized to speak for the NHL, the league’s executives are working feverishly as they attempt to put an agreement in writing by 5 p.m tonight, the time NHL deputy commissioner Bill Daly was supposed to accept or reject Kovalchuk’s contract. The original deadline had been set for 5 p.m. Wednesday, before the league and the NHLPA “mutually agreed to extend” the deadline.
The person called the process “complicated” and hoped that a statement would be issued by the league at 5 p.m. tonight.
According to NorthJersey.com, Kovalchuk’s contract will not be affected by the amendment, but it will be the last of its kind.
Marian Hossa, Robert Luongo, Marc Savard, Henrik Zetterberg and other players who signed similar long-term pacts would also be exempt from change in the CBA and considered approved.
The Devils thought they had signed Kovalchuk to the longest and one of the most lucrative contracts in league history -- a 17-year deal worth $102 million -- on July 19. They held a press conference the next day to formally announce the pact. But later that evening the pact was rejected by the league on the grounds that it circumvented the salary cap.[url= www.nfljerseychina.com]nfl jerseys[/url]
The case eventually ended up in the hands of arbitrator Richard Bloch, who upheld the league’s decision on Aug. 9. It has now been 25 days since that ruling.
Kovalchuk will be 42 when his contract expires. His 15-year deal matches the longest contract in NHL history. Islanders goaltender Rick DiPietro also inked a 15-year deal in 2006.
Kovalchuk’s average cap hit of $6,666,667 would put the Devils approximately $3 million over the salary cap, meaning general manager Lou Lamoriello will have to move a player or two to fit Kovalchuk on the Devils’ roster.
www.2009allstar.com
UPDATE: Still in wait and see mode all. [url= www.2009allstar.com]Hockey jerseys[/url]
UPDATE: Nothing yet, but I talked to a league source who said it should get done in this hour.
UPDATE: Now looking at 10 p.m. for the record.
UPDATE: My guess is they want to keep us here all night. 9 p.m. now according to NorthJersey.com.
UPDATE: Make it 8 p.m.
UPDATE: The 5 p.m. deadline has been extended to 7 p.m., according to NHL.com.
The arduous Ilya Kovalchuk saga has finally come to a conclusion. And Kovalchuk will be spending the next 15 seasons with the New Jersey Devils.
Kovalchuk's agent, Jay Grossman confirmed in an e-mail to the Associated Press that his re-worked 15-year, $100 million contract with the Devils will be approved by the league as part of a revised agreement between the National Hockey League and the NHL Players' Association.
Reports say that the league and the union have come to terms on an amendment to the NHL’s Collective Bargaining Agreement that will address the myriad issues raised by excessively long-term contracts.
According to a person who requested anonymity because he is not authorized to speak for the NHL, the league’s executives are working feverishly as they attempt to put an agreement in writing by 5 p.m tonight, the time NHL deputy commissioner Bill Daly was supposed to accept or reject Kovalchuk’s contract. The original deadline had been set for 5 p.m. Wednesday, before the league and the NHLPA “mutually agreed to extend” the deadline.
The person called the process “complicated” and hoped that a statement would be issued by the league at 5 p.m. tonight.
According to NorthJersey.com, Kovalchuk’s contract will not be affected by the amendment, but it will be the last of its kind.
Marian Hossa, Robert Luongo, Marc Savard, Henrik Zetterberg and other players who signed similar long-term pacts would also be exempt from change in the CBA and considered approved.
The Devils thought they had signed Kovalchuk to the longest and one of the most lucrative contracts in league history -- a 17-year deal worth $102 million -- on July 19. They held a press conference the next day to formally announce the pact. But later that evening the pact was rejected by the league on the grounds that it circumvented the salary cap.[url= www.nfljerseychina.com]nfl jerseys[/url]
The case eventually ended up in the hands of arbitrator Richard Bloch, who upheld the league’s decision on Aug. 9. It has now been 25 days since that ruling.
Kovalchuk will be 42 when his contract expires. His 15-year deal matches the longest contract in NHL history. Islanders goaltender Rick DiPietro also inked a 15-year deal in 2006.
Kovalchuk’s average cap hit of $6,666,667 would put the Devils approximately $3 million over the salary cap, meaning general manager Lou Lamoriello will have to move a player or two to fit Kovalchuk on the Devils’ roster.
www.2009allstar.com
annwang- Posts : 8
Join date : 2010-07-15
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