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was signed under the Jeff Vanderbeek regime, and Vanderbeek — who had a tumultuous time as Devils owner — has since been replaced by Philadelphia 76ers owner Josh Harris.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.
Jul 28, 2014, 11:05 PM EDT
Both were part of Dallas’ 1999 championship.
Jul 28, 2014, 10:16 PM EDT
He was recently hired by the team to serve as an assistant general manager.
Jul 28, 2014, 9:09 PM EDT
That won’t be easy given the Bruins’ current logjam.
Jul 28, 2014, 8:00 PM EDT
He might still end up playing in Russia.
Jul 28, 2014, 6:50 PM EDT
He attempted to make the transition to North America in 2013-14.
Jul 28, 2014, 5:42 PM EDT
The two sides are unlikely to agree to terms quickly though.
Jul 28, 2014, 4:37 PM EDT
Yashin and Bure are among the players that will compete against Los Angeles.
Jul 28, 2014, 3:30 PM EDT
“I was told there’s a definite opportunity.”
Jul 28, 2014, 2:27 PM EDT
Former Anaheim forward posted a career high in points last year.
Jul 28, 2014, 2:01 PM EDT
With Riley Sheahan also signed, the only RFA left is Danny DeKeyser.
Jul 28, 2014, 1:00 PM EDT
He’s appeared in over 150 NHL games with Chicago, Dallas and Minnesota.
Jul 28, 2014, 12:00 PM EDT
Veteran goalie is high on his young teammates.
Jul 28, 2014, 10:56 AM EDT
“It’ll be done before camp.”
Jul 28, 2014, 9:58 AM EDT
Appeared in 83 games for Calgary over the last three seasons.
Jul 28, 2014, 9:00 AM EDT
They’ll be dancing close to the upper limit all year.
Jul 28, 2014, 8:00 AM EDT
That and the rest of the links to start your day.
Jul 27, 2014, 9:30 PM EDT
He last played in 2001 with the Edmonton Oilers.
Jul 27, 2014, 8:05 PM EDT
He’s played four full seasons there already.
Jul 27, 2014, 6:45 PM EDT
He has a few guys that can help make it happen there.
Jul 27, 2014, 5:20 PM EDT
He was their final restricted free agent.
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