Ilya Kovalchuk stays in New Jersey, spurns the L.A. Kings

[realmofotalk]

Kovalchuk's mother tells Pavel Lysenkov of Sovetsky Sport that Kovalchuk's deal with is for 17 years. Kovalchuk's the deal is in excess of $100 million for 17 years, I am hearing out of Russia. This is unconfirmed by the Devils or Kovalchuk's camp.

AEG still sucks. L.A.'s teams truly are run by some of the most miserable owners in all of sports.

[ricky]

17 years will make him.. 44? kinda old..

[realmofotalk]

It's not as bad of a contract as it appears at first sight. He'll stop raking in six figure salaries at age 38, but because the contract is prorated over 17 years, the cap hit is just $5.88 million. I do know this method has been prohibited in the NBA ever since the Lakers tried to re-sign Magic Johnson to a 25-year contract.

Kovalchuk's contract
2010-2011 $6,000,000
2011-2012 $6,000,000
2012-2013 $11,500,000
2013-2014 $11,500,000
2014-2015 $11,500,000
2015-2016 $11,500,000
2016-2017 $11,500,000
2017-2018 $10,500,000
2018-2019 $8,500,000
2019-2020 $6,500,000
2020-2021 $3,500,000
2021-2022 $750,000
2022-2023 $550,000
2023-2024 $550,000
2024-2025 $550,000
2025-2026 $550,000
2026-2027 $550,000

[ricky]

lol so much money for hockey

[Foster]

I think its a little high for him. A little too much money, but he can prove me wrong.
And these prorated contracts are ridiculous. The NHL is full of them now.

[DirtyKash]

How long until we see a 30-year contract? 40-year contract? 50?

[ricky]

yes the future pros will all get selected and signed pre-birth.

[Slyder]

yes the future pros will all get selected and signed pre-birth.

Just like soccer with all the "phenoms" on youtube.

[realmofotalk]

He'll stop raking in six figure salaries at age 38, but because the contract is prorated over 17 years, the cap hit is just $5.88 million.

Oh shit, I glossed over the ramifications of a 5.88M cap hit even when his base salary plunges into five figures. Still, 11 out of 17 ain't bad.

[ricky]

Ill play hockey almost as well for 145k a season. for 21 seasons.

[Sabu88]

Penguins need to do this with Crosby

[realmofotalk]

NEWARK, New Jersey (AP)—The NHL rejected Russian Ilya Kovalchuk’s landmark 17-year, $102 million contract with the New Jersey Devils on Tuesday night after it was deemed to circumvent the league’s salary cap.

However, I say the Kings will still find a way to blow this opportunity to sign him, so this latest development all could be moot.

[redsfan28]

Gotta love the GM knowing that the NHL was going to reject the deal. If he knew it, why the hell does he do the deal and have a presser to announce it?

[Hammer]

make it seem like he tried everything to bring the guy back, thus when he goes to la, he can tell devil fans ''BLAME THE NHL.''

[Halladay_is_God]

NJ GM Lou Lamoriello is known to find loopholes in the CBA and whatnot, its no surprise that he tried something like this