Jul 20, 2010, 10:45 PM EDT
Apparently “Loophole Lou” might have gotten in the way of the loophole-manipulating contract that Ilya Kovalchuk signed with his New Jersey Devils.
An AP report indicates that the NHL rejected the 17-year, $102 million contract the Russian winger was offered to stay in Newark. Keep in mind this isn’t quite “official” just yet, but it wouldn’t be shocking if the deal upset many in the league offices. Here’s more from that story.
Speaking on condition of anonymity because the NHL has not announced the decision to void the deal, the person tells The Associated Press on Tuesday night that Kovalchuk’s contract is illegal because the years of low salary at the end of the contract were added for the sole purpose of lowering the cap hit.
The person added that no side believes Kovalchuk will play the final years of the deal at the low salary numbers that were agreed to in the deal. The star forward was slated to earn only $550,000 in each of the last five seasons of the contract.
While this might just come down to the Devils making the deal a bit more “honest” (as in, spreading the money out more evenly), it’s still an interesting put-your-foot-down moment for a league that did little more than “investigate” dubious contracts in the past.
We’ll update this story as it goes along, but for some background on why this might have happened, here are a few links on the Kovalchuk contract.
Kovalchuk’s deal by the numbers, which will show just how absurd the final years of the deal really are.
Our story on the Kovalchuk press conference, which includes some commentary from Lamoriello that might have spelled (temporary?) doom for the contract.
Want to see some highlights of the press conference itself? Click here.
- Leafs hire 28-year-old stats advocate as assistant GM 18
- NBC Sports to air over 100 NHL regular-season games in 2014-15 38
- Stars, Roussel agree on four-year, $8 million deal 2
- Vanek connected to federal gambling investigation 59
- Return that toaster: Ovechkin-Kirilenko engagement broken off 52
- Report: Leafs sign Franson to one year, $3.3 million deal 8
- Report: O’Reilly wants $6.7M deal, Avs counter at $5.5M 55
- Report: Blue Jackets, Johansen make ‘significant progress’ toward deal 5
- Red Wings unveil plans for new arena, look to open in 2017 57
- Columbus trying to figure out ‘the right thing to do’ with Johansen 39
- Kane, Toews could’ve commanded $13.8M cap hits, says agent (83)
- Babcock fires back over allegations that free agents avoid him (77)
- Babcock: Cleary a ‘calculated risk’ after playing last year ‘on one leg’ (70)
- Vanek connected to federal gambling investigation (60)
- Report: Zuccarello wants $4.5M per on new deal, Brassard eyeing $5.5M (58)