Late last week, it became clear that the New Jersey Devils and Ilya Kovalchuk had once again come to an agreement on a signed contract for Kovalchuk to play a significant amount of time in New Jersey.
It wasn't long ago—July 17th, to be exact—that the Devils and Kovalchuk had agreed on a 17-year, $102 million contract that ended up being rejected by the NHL.
This new contract agreement apparently calls for 15 years and $100 million, which would be a cap hit of $6.666 million (very appropriate for a team called the Devils, no?).
So, what has changed this time around? Well, the rumor circuit had been very tight, although Nick Kypreos reported first that the last five years of the contract total $10 million, making the deal significantly less front-loaded than the last contract.
The contract would then basically be broken down to 90 percent in the first 10 years and 10 percent in the last five years, which is obviously a significantly better structure than the previous version. It also invalidates the argument of not giving Kovalchuk a reason to play out the contract beyond the 10-year period, but depending on how the fi ...
Read Full Article at Bleacher Report - NHL
Article written by levinakl
Ilya Kovalchuk Deal Has NHL Taking Out Its Frustrations on Players and Fans
September 2nd, 2010 by levinakl Leave a reply »
Advertisement