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Report: New Jersey Devils expected to sign Ilya Kovalchuk to seven-year, $60M deal

Jul 5, 2010, 1:33 PM EDT

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The New York Post reports that the New Jersey Devils are expected to sign Ilya Kovalchuk to a seven-year, $60 million deal. If that is indeed the deal, Kovalchuk would generate an annual cap hit of a little more than $8.57 million per season.

CapGeek.com lists the Devils’ pre-salary cap space at about $4.75 million, so obviously moves will need to be made for New Jersey to get under the cap by the beginning of the 2010-11 season.

Expect more updates on the story once details trickle in. As of this moment, the contract news hasn’t been made official just yet.

Update: Already trying to piece together the jigsaw puzzle that is the Devils cap situation? Larry Brooks (also of the New York Post) provides some good points.

Patrik Elias has a no move. Expect Salvador to be waived at camp. Perhaps Zubrus can be dealt. Maybe Langenbrunner goes in deal.

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