Mar 6, 2014, 12:35 PM EDT
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was signed under the Jeff Vanderbeek regime, and Vanderbeek — who had a tumultuous time as Devils owner — has since been replaced by Philadelphia 76ers owner Josh Harris.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.
Aug 27, 2015, 4:25 PM EDT
The Penguins are a win now team coming off of a quick first round exit.
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Can they stay healthy?
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“I’m fully aware that at some point in time we may have to address that position.”
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Aug 27, 2015, 12:17 PM EDT
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Aug 27, 2015, 12:00 PM EDT
It’s a benchmark he’s never hit before.
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The 21-year-old looks like he’ll be counted upon heavily.
Aug 27, 2015, 9:48 AM EDT
For a border incident that occurred in mid-June.
Aug 27, 2015, 9:00 AM EDT
A first round exit has led to a busy summer.
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Thursday’s collection of links.
Aug 26, 2015, 9:32 PM EDT
Development coach Patrick Rissmiller is among New Jersey’s latest additions.
Aug 26, 2015, 8:08 PM EDT
His conditioning comes on the ice, not in the weight room.
Aug 26, 2015, 6:40 PM EDT
Two terrible seasons didn’t dissuade fans expecting brighter days ahead.
Aug 26, 2015, 5:11 PM EDT
Philadelphia has a great core, but does it have the depth?
Aug 26, 2015, 4:00 PM EDT
Tanking isn’t likely, yet may it be wise?
Aug 26, 2015, 2:37 PM EDT
It would be wise to stick to Ron Hextall’s plan, but it’s not exactly Philly’s style.
Aug 26, 2015, 1:30 PM EDT
With big raises come big expectations.
Aug 26, 2015, 12:13 PM EDT
Still not totally closing the door.
Aug 26, 2015, 11:00 AM EDT
He’s part of Philadelphia’s wave of impressive young defensemen.
Aug 26, 2015, 9:41 AM EDT
Can he impress in training camp?
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