It took most of three weeks from free-agent frenzy day, but on Monday, July 19, 2010, NHL sniper Ilya Kovalchuk finally signed an NHL contract. And while he reportedly visited L.A. and was feted by Kings governor Tim Leiweke and G.M. Dean Lombardi, and had serious interest from the New York Islanders, the former Atlanta Thrasher signed his pact with the Devils.
He may have stayed with the Devils, but he signed for a King's ransom.
Terms have been reported as more than $100 million dollars over 17 years. If so, the deal, announced by New Jersey before noon on Monday, takes the 27-year-old Russian up to the age of 44, long after goal scorers are still playing, let alone being productive. That indicates Devil Lou Lamoriello and Kovalchuk's agent, Jay Grossman, agreed to help the Devils out with the salary cap.
Long-term NHL Deals Manage to Keep Teams Under the Salary Cap
These kinds of deals, Marian Hossa signed one in Chicago last year, are front-end loaded so a player gets most of the money in the first years of the contract. But when it comes to cap hits they are averaged out over the length of the contract. By the time a player retires, likely years before the contract has run out, he's pocketed most of the money.
This allows teams with more money to spend, to spend it, just as they could before the current collective bargaining agreement. Such deals may not be what the NHL intended but it's become common practice. It's a loophole that the NHL will surely look to close when they get together with the NHLPA to negotiate their next agreement after the current one expires at the end of the upcoming season.
But too late to prevent New Jersey from getting a great deal on a pure goal scorer. With this deal, Kovalchuk's yearly hit on the Devil's payroll will come in at under 6 million bucks, a steal for a forward who routinely scores 40 - he's had 52 twice - and has totaled 338 goals and 642 points in 621 games. Most of those numbers came playing on a team which made the playoffs once in ten seasons (Kovalchuk came along in their third season).
Kovalchuk Rejoins Stars Parise, Langenbrunner and Elias
On New Jersey, where he scored 10 goals and 27 points in 27 games, Kovalchuk rejoins a group of forwards that includes Team U.S.A Olympic star Zach Parise, team captain Jamie Langenbrunner and veteran scorer Patrik Elias. The Devils lost defenseman Paul Martin to free agency (Pittsburgh) but picked up Anton Volchenkov and Henrik Tallinder, as well as veteran back-up Johan Hedberg.
Despite the long-term deal the Devils will have to unload salary to stay under the cap. Likely candidates are Brian Rolston at over 5 million, Travis Zajac at near 4 million, or Dainius Zubrus, surely overpaid at 3.4. Whatever deal Lamoriello makes it will be to clear space, like the deal Monday that saw Simon Gagne go from the Flyers to Tampa Bay for journeyman Matt Walker and a fourth-round pick.
It is likely that Western Conference teams are relieved Kovalchuk did not sign with the Kings as L.A., with young players like Dustin Brown, Drew Doughty, Anze Kopitar and Wayne Simmonds, are poised to become contenders without Kovalchuk. Reports indicate he very nearly did sign with L.A .
"Ilya is excited to be continuing his career with New Jersey and knows first-hand the team's dedication and commitment to winning," Grossman said about his clients deal Monday.
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