It's the dawn of another beautiful Labour Day in North America. The NHL and the NHLPA seem to have agreed on a contract for Ilya Kovalchuk and the New Jersey Devils. Instead of a front loaded 102 million dollar contract over 17 years they've agreed on a front loaded 100 million dollars over 15 years.
This agreement has helped the NHL avoid the embarrassment of having their highest profile unrestricted free agent signed by another league. An agreement has been reached over some other long term contracts that the NHL was threatening to reopen. That would have left the NHL looking like more of mickey mouse operation than it currently does and have players, fans and management alike wondering when is a deal a deal and are NHL contracts worth the paper they're written on.
Going forward long term contracts (five years or longer) that are scheduled to pay a player once he reaches 40 will have their cap hit counted differently. The total salary paid up to and including age forty will be averaged and that will be the Cap hit for the team for that player. The seasons beyond age forty will have a cap hit equal to whatever salary is being paid at that point. ...
Read Full Article at Bleacher Report - NHL
Article written by Scott Weldon
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