Kovalchuk pact approved; NHL-NHLPA adopt rules for long-term deals

Hockey Betting Lines

09/04/2010 - Toronto, ON (Sportsbook Betting Lines) - Ilya Kovalchuk will finally join the New Jersey Devils after his re-submitted contract was officially and finally approved by the National Hockey League just before 3 a.m. (et) Saturday morning.

The re-worked contract now calls for Kovalchuk to collect a reported $100 million over 15 years, with an annual cap hit of close to $6.66 million. The deal is thought to pay out $90 million in the first 10 years and $10 million over the last five.

Kovalchuk's initial 17-year, $102 million deal with the Devils was rejected by the league on the grounds that it circumvented the league's salary cap. The deal was front-loaded so Kovalchuk could have earned as much money as possible while providing the lowest possible cap hit for the team.

The NHL Players' Association filed a grievance on Kovalchuk's behalf, but an arbitrator ruled in favor of the league. The Russian star, now 27, would be approaching age 43 when the contract expires.

The rejection of the contract provided much debate throughout the league in terms of "lifetime" contracts given to players that have helped reduce the yearly salary cap hit. Several players in previous years signed deals that took them past 40 years of age and saw the annual salary dip below $1 million in the final years of the contract.

The NHL and NHLPA together, did away with those scenarios in one fell swoop Friday, jointly adopting new regulations on such pacts while simultaneoulsy ruling on Kovalchuk's situation after a whirlwind of postponements on a ruling that stretched well into the night.

The new rules will apply only to long-term contracts, five years or longer in length, and only those going forward beyond the September 4 ruling date. All previous contracts are grandfathered in, meaning Kovalchuk's contract will likely be the last of its kind.

To that end, the two entities also announced that the league will terminate its circumvention investigations into the contracts signed in 2009 by Marian Hossa of the Chicago Blackhawks, Roberto Luongo of the Vancouver Canucks, Marc Savard of the Boston Bruins and Chris Pronger of the Philadelphia Flyers.

"We are pleased to finalize an agreement which ends the league's circumvention investigations and also establishes rules on long-term contracts that will provide players, their certified agents and general managers clarity for the negotiation of new contracts," said Roland Lee, associate counsel for the NHLPA and director of Salary Cap/Marketplace. "Turning the page on this process is something that will benefit all parties involved."

Taking into account the NHL's salary cap system and forthcoming CBA negotiations, a special calculation of value will be made in two ways for contracts that extend beyond a player's 41st birthday, and any long-term contract that averages more than $5.75 million for the three highest- compensation years will have rules put into place that limit that player's compensation to a minimum of $1 million between the ages of 36 and 40.

Because of the league's previous rules on player contracts after the age of 35, it was conceivable that someone could retire before a contract had expired, wiping the contract off the salary cap. This rule allowed teams to sign players to front-loaded contracts to benefit both the team and player.

"We're pleased to be able to establish clearly-defined rules for these types of contracts going forward and just as happy we can turn the page on uncertainties relating to several other existing contracts," NHL Deputy Commissioner Bill Daly said. "From start to finish of this multi-week process we were able to work closely and cooperatively with representatives of the Players' Association, who shared our belief that the creation of definitive rules and guidelines in this area would be beneficial to everyone -- clubs and players alike."

Kovalchuk's deal will reportedly take the team about $3 million over the salary cap with 21 players under contract, and the Devils will have to get under the $59.4 million cap before the beginning of the season while adding two more players to the roster.

Kovalchuk posted 41 goals and 85 points in 76 games last season, 10 goals and 27 points coming in 27 games with New Jersey. In a five-game first-round playoff loss, the 27-year-old added two goals and six points.

In 621 games since entering the league in 2001, he has accumulated 338 goals and 642 points with Atlanta and New Jersey.

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MySportsbook.com: NFL draft - The NFC South


In part two of MySportsbook.com’s draft preview, we’ll take a look at a division that was extremely disappointing last season: the NFC South.  Many “experts” predicted the Panthers to represent the NFC in the Super Bowl, of course they could not even make the playoffs in an extremely weak NFC.  The Saints definitely made up for the disappointing seasons of their NFC South brethren by exploding out of no where en route to the NFC Championship game.  For the avid NFL gambler, it is imperative to pay attention to the NFL draft.  Although free agency gets a ton of publicity, the successful franchises build their teams around the draft.

1. New Orleans Saints
Who would have thought this time last year that the Saints would be the favorites to win the NFC South for the 2007 campaign?  New Orleans is loaded with firepower on the offensive side of the ball but with the exodus of Joe Horn they will most likely look to draft a WR on Day 1.  Despite having the NFL’s 3rd ranked pass defense last season, the Saints will most likely upgrade their CB’s with one of their first two picks. Other possibilities for the Saints will be TE and DT.  Because of where they will be selecting (27th), the Saints could go the “best available player” route which could net a LB.

Key additions: Eric Johnson TE, Troy Evans LB, David Patten WR
Key loses: Joe Horn WR,
Team needs: CB, WR, TE, LB, DT
Possible draftees: Aaron Ross CB Texas, Darrelle Revis CB Pitt, Ted Ginn Jr. WR OSU, Paul Posluszny LB PSU, Chris Houston CB Arkansas, Greg Olsen TE Miami

2. Carolina Panthers
Carolina was one of the biggest disappointments in the NFL last season.  With the signing of David Carr, expect the very first quarterback controversy to come out of Carolina if Jake Delhomme doesn’t rebound quickly from an average 2007 season. With veteran safety Mike Minter getting up there in age, they will look to draft a safety on Day 1 but probably not in the first round.  LB is another need with the loss of Chris Draft to go along with Dan Morgan’s concussion problems.  If TE Greg Olsen is still on the board, he might be too good to pass up despite their needs on the defensive side of the ball.

Key additions: David Carr QB
Key loses: Chris Draft LB
Team needs: LB, TE, S, OT
Possible draftees: Greg Olsen TE Miami, Patrick Willis LB Ole Miss, Paul Posluszny LB PSU, Levi Brown OT PSU

3. Atlanta Falcons
The Falcons were another NFC South team to have a disappointing 2007 season.  The Falcons have been plenty busy during the off season with plenty of players coming and going including a new head coach.  The Falcons were able to improve their draft position with the trade of coveted backup QB Matt Schaub.  High on the list of Day 1 needs will be a defensive end to replace Patrick Kerney and a hard hitting safety since Lawyer Milloy is nearing the end of his career.  With an additional 2nd round pick, the Falcons could attempt to trade up to acquire local product WR Calvin Johnson. 

Key additions: Joey Harrington QB, Toniu Fonoti OG, Joe Horn WR
Key loses: Justin Griffen RB, Patrick Kerney DE, Matt Lehr OG, Ashley Lelie WR, Matt Schaub QB
Team needs: DE, S, OT, WR, DT
Possible draftees: LaRon Landry S LSU, Amobi Okoye DT Louisville, Levi Brown OT PSU, Jamaal Anderson DE Arkansas, Alan Branch DT Michigan

4. Tampa Bay Buccaneers
Age really caught up to the Bucs last season.  The Bucs still have plenty of household names on defense in Ronde Barber, Simeon Rice and Derrick Brooks but the one thing those three have in common is unfortunately age.  It is imperative for the Bucs to get much younger, especially on the defensive side of the ball. Despite having bigger needs on the defensive side of the ball, WR Calvin Johnson is the most likely pick if he is still available when the Bucs pick at the four spot.  This would suit Bucs’ faithful just fine as Johnson is widely considered the top talent in the draft and it is a position of need for the Bucs.

Key additions: Jeff Garcia QB, Kevin Carter DE, Torrie Cox CB, Cato June LB
Key loses: Dewayne White DE, Sean Mahan OG
Team needs: WR, LB, DE, CB (Youth on defense!)
Possible draftees: Calvin Johnson WR Georgia Tech, Gains Adams DE Clemson, Jamaal Anderson DE Arkansas

It is never too early to start betting on the NFL. Log on to MySportsbook.com to checkout all of the NFL futures for the upcoming season.  On the clock: the NFC North

Odds to win the NFC South:
New Orleans Saints 8-5
Carolina Panthers 2-1
Atlanta Falcons 12-5
Tampa Bay Buccaneers 9-2    

Odds to win the NFC:
New Orleans Saints 13-2
Carolina Panthers 7-1
Atlanta Falcons 20-1
Tampa Bay Buccaneers 25-1

Odds to win the Super Bowl:
New Orleans Saints 18-1
Carolina Panthers 20-1
Atlanta Falcons 50-1
Tampa Bay Buccaneers 75-1

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