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was signed under the Jeff Vanderbeek regime, and Vanderbeek — who had a tumultuous time as Devils owner — has since been replaced by Philadelphia 76ers owner Josh Harris.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.
Oct 21, 2014, 1:24 PM EDT
Could Devan Dubnyk take a run at Mike Smith’s job?
Oct 21, 2014, 1:04 PM EDT
Pretty strong vote of confidence right there.
Oct 21, 2014, 12:34 PM EDT
Scott Darling recalled from AHL Rockford.
Oct 21, 2014, 12:31 PM EDT
Skating on a line with Henrik Zetterberg and Justin Abdelkader.
Oct 21, 2014, 11:49 AM EDT
The flip-side being…what if they lose?
Oct 21, 2014, 11:44 AM EDT
“It’s something I really want to see,” said head coach Lindy Ruff.
Oct 21, 2014, 11:26 AM EDT
Another addition to the front office.
Oct 21, 2014, 11:00 AM EDT
The top 2015 draft prospect has impressed the Islanders’ superstar.
Oct 21, 2014, 9:45 AM EDT
He had been recovering from shoulder surgery.
Oct 21, 2014, 9:11 AM EDT
Both players have missed the start of the season.
Oct 21, 2014, 8:33 AM EDT
And they’ll face Antti Raanta in goal.
Oct 21, 2014, 8:00 AM EDT
Tuesday’s collection of links.
Oct 21, 2014, 1:56 AM EDT
Get out the swear jar.
Oct 21, 2014, 1:11 AM EDT
Yeah, he was.
Oct 21, 2014, 12:20 AM EDT
It finally happened and it happened with a late goal.
Oct 20, 2014, 11:57 PM EDT
Caught Taylor Hall with a heavy hit earlier in the game.
Oct 20, 2014, 11:24 PM EDT
Now, can they hang on for the win?
Oct 20, 2014, 11:07 PM EDT
Talking about the Oilers perhaps trading one of their young players.
Oct 20, 2014, 10:39 PM EDT
Heavy hit along the boards.
Oct 20, 2014, 10:04 PM EDT
That’s about as much trash talk as you’re going to get from Willie D.
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