Mar 6, 2014, 12:35 PM EST
The NHL is set to reverse the punishment handed to New Jersey for the Ilya Kovalchuk cap circumvention incident, according to TSN’s Darren Dreger:
NHL will award Devils with the 30th pick in the Draft instead of the 1st round pick as usually determined. Also forgiving $1.5 mil of fine.
— Darren Dreger (@DarrenDreger) March 6, 2014
In September of 2010, the NHL fined the Devils $3 million and took away their third-round pick at the 2011 NHL Entry Draft — as well as a first-round draft choice in one of the next four NHL Entry Drafts.
The punishment was levied after an independent arbitrator ruled Kovalchuk’s 17-year, $102 million deal attempted to circumvent the league’s salary cap (the deal was heavily front-loaded, with Kovalchuk earning $95 million over the first 10 years.)
This summer, Kovalchuk surprised the hockey world by retiring from the NHL with 12 years and $77 million remaining on his deal with the Devils. As a result, New Jersey will have to pay a cap restructure penalty of about $300,000 until 2024-25 — when the contract was set to expire.
Regarding this year’s first-round pick…
New Jersey was set to forfeit its selection at the ’14 NHL Entry Draft after keeping its firsts in ’11, ’12 and ’13. It now looks as though the Devils will select 30th overall regardless of how they finish this year.
Needless to say, NHL teams are not happy with the leagues decision to let the Devils off the hook.
— Darren Dreger (@DarrenDreger) March 6, 2014
There will likely be more to follow on this story, most notably the league’s explanation for its decision. It’s worth noting that the Kovalchuk deal was signed under the Jeff Vanderbeek regime, and Vanderbeek — who had a tumultuous time as Devils owner — has since been replaced by Philadelphia 76ers owner Josh Harris.
The NHL has released the following statement…
The Devils recently applied to the League for reconsideration and relief from a portion of the original penalty, citing primarily changes in circumstances which, in the Club’s view, changed the appropriateness of the sanctions initially imposed.
After due and thorough consideration, the League has decided that a modification of the original circumvention penalty associated with the Kovalchuk contract is warranted.
The NHL also noted the Devils aren’t allowed to trade or transfer their right to the 30th overall selection at the draft.
Dec 21, 2014, 12:45 PM EST
The Penguins forward was penalized twice for embellishment on Saturday.
Dec 21, 2014, 12:00 PM EST
Torrey Mitchell and Tyson Strachan have been placed on IR
Dec 21, 2014, 11:15 AM EST
They’re not impressed with how Bylsma and his staff were treated.
Dec 21, 2014, 10:30 AM EST
He called it “no big deal”
Dec 21, 2014, 9:45 AM EST
Had just one goal in eight games prior to the injury.
Dec 21, 2014, 1:18 AM EST
Christopher Tanev scored the overtime winner on his birthday.
Dec 21, 2014, 12:33 AM EST
Vancouver reported its holding him out of the rest of the game for precautionary reasons.
Dec 20, 2014, 11:51 PM EST
Minnesota has won five of its last 13 games.
Dec 20, 2014, 11:20 PM EST
They had pulled their goaltender on a delayed penalty.
Dec 20, 2014, 11:05 PM EST
Stamkos hopes this loss will serve as a wake up call.
Dec 20, 2014, 10:43 PM EST
Ray Emery certainly got a lot of offensive help with Steve Mason out.
Dec 20, 2014, 10:17 PM EST
Montreal beat Ottawa 4-1.
Dec 20, 2014, 9:55 PM EST
It’s the third time this month New Jersey has been goalless.
Dec 20, 2014, 9:35 PM EST
Calvin Pickard had another great game.
Dec 20, 2014, 9:08 PM EST
It’s been a heated game between Pittsburgh and Florida.
Dec 20, 2014, 8:06 PM EST
It set a franchise record for both teams.
Dec 20, 2014, 7:20 PM EST
Carlyle’s been unhappy with his “very erratic” play.
Dec 20, 2014, 7:00 PM EST
They’ve combined for 13 points in the Kings’ last two games.
Dec 20, 2014, 6:11 PM EST
He might get that opportunity this weekend.
Dec 20, 2014, 5:24 PM EST
He might shatter some career-highs this season.
- Giroux line takes Leafs ‘to school’ in Flyers’ 7-4 victory 15
- Wolverine Pacioretty gets two assists just two days after being hospitalized 13
- Ovechkin scores beauty as Caps shutout Devils 6
- Seriously? Stress fracture sidelines Columbus’ Jenner for 1-2 months 6
- Julien chides Bruins’ offense for too many cute plays 40
- Sens roll over Ducks, who ‘weren’t ready’ 11
- Flyers’ Mason tweaked back, will miss weekend games 10
- Gordie Howe makes ‘amazing’ recovery following stem cell treatment in Mexico 15
- Video: Penguins’ spoof of ‘Christmas Vacation’ is pretty good 18
- Mason hurt, helped off ice at end of Flyers practice 8