NHL: Kovalchuk signs 17-year contract
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    NHL: Kovalchuk signs 17-year contract

    Rumors have Ilya Kovalchuk re-signing with the New Jersey Devils for a 17-year, $100+ million deal. If this is true, he'll be signed until he is 44.

    These contracts make the NHL more than a bit of a joke. For those that don't follow closely, teams offer terms like this as a loophole to avoid the salary cap. Teams front-load contracts so the majority of money is made before age 35, when players can retire and take salaries off the books. By stretching contracts into a player's 40's with low dollar amounts in the waning years, teams lower their salary cap hit (as this number is calculated by taking the annual average across the entire contract).

    I am baffled this loophole hasn't been shut down after it has been exploited the last couple years, and am also shocked the NHL hasn't rejected this contract (if the rumors are true).

    NHL fans, thoughts? Other sports fans?


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    Re: NHL: Kovalchuk signs 17-year contract

    The NHL "salary cap" is a joke. Then again, I may be a bit bitter because I'm a Kings fan and they lost out on yet another FA. It's become an annual event.



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    Re: NHL: Kovalchuk signs 17-year contract

    Quote Originally Posted by sunset View Post
    The NHL "salary cap" is a joke. Then again, I may be a bit bitter because I'm a Kings fan and they lost out on yet another FA. It's become an annual event.
    I'm very surprised he didn't sign with Los Angeles. There was obviously mutual interest, he would fill the Kings' most pressing need, and Kovalchuk in the Kings' system makes a lot more sense than in the Devils' defensive style.


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    Re: NHL: Kovalchuk signs 17-year contract

    Quote Originally Posted by Stumpy View Post
    Rumors have Ilya Kovalchuk re-signing with the New Jersey Devils for a 17-year, $100+ million deal. If this is true, he'll be signed until he is 44.

    These contracts make the NHL more than a bit of a joke. For those that don't follow closely, teams offer terms like this as a loophole to avoid the salary cap. Teams front-load contracts so the majority of money is made before age 35, when players can retire and take salaries off the books. By stretching contracts into a player's 40's with low dollar amounts in the waning years, teams lower their salary cap hit (as this number is calculated by taking the annual average across the entire contract).

    I am baffled this loophole hasn't been shut down after it has been exploited the last couple years, and am also shocked the NHL hasn't rejected this contract (if the rumors are true).

    NHL fans, thoughts? Other sports fans?
    The NFL does the exact opposite of this, backloading contracts to make them appear larger to the media, when in all reality the amount of guaranteed money is not that big.


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    Re: NHL: Kovalchuk signs 17-year contract

    Absolute joke!



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    Re: NHL: Kovalchuk signs 17-year contract

    ONE published report said that it was a 17-year, $100+ million contract.

    I SERIOUSLY doubt that it pans out to be that way, but if it does turn out to be that long it's usually structured with peanut-salaries at the very end of the contract to avoid a cap hit.



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    Re: NHL: Kovalchuk signs 17-year contract

    Yeah its a joke, but at least the NHL has a salary cap... I'm lookin' at you MLB!


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    Re: NHL: Kovalchuk signs 17-year contract

    If there were any doubts about how much of a joke this contract is, here are the official terms, as filed and accepted by the NHL and NHLPA.

    Quote Originally Posted by http://www.nj.com/devils/index.ssf/2010/07/here_are_the_official_numbers.html
    2010-11 $6 Million
    2011-12 $6 Million
    2012-13 $11.5 Million
    2013-14 $11.5 Million
    2014-15 $11.5 Million
    2015-16 $11.5 Million
    2016-17 $11.5 Million
    2017-18 $10.5 Million
    2018-19 $8.5 Million
    2019-20 $6.5 Million
    2020-21 $3.5 Million
    2021-22 $750,000
    2022-23 $550,000
    2023-24 $550,000
    2024-25 $550,000
    2025-26 $550,000
    2026-27 $550,000


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    Re: NHL: Kovalchuk signs 17-year contract

    The NHL salary cap has a little bit of actual effect. Look at the Blackhawks trading Byfuglien a couple weeks after the Cup.


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    Re: NHL: Kovalchuk signs 17-year contract

    Quote Originally Posted by Al_4_State View Post
    The NHL salary cap has a little bit of actual effect. Look at the Blackhawks trading Byfuglien a couple weeks after the Cup.
    You're definitely right about that - Chicago has absolutely dismantled their squad and still have a way to go before they have some room to breathe under the cap. It will be interesting to see how much Niemi makes in his arbitration hearing (I'd imagine $3.5 million ballpark).

    That's actually what makes contracts like Kovalchuk's so frustrating: the salary cap is damn effective. It's frustrated that the same owners that forced a lockout to implement a salary cap are now circumventing it through such extreme measures.

    The salary cap is working, but needs a couple tweaks here and there. To close this loophole, teams should be held accountable for real dollars each season. So when Kovalchuk makes $11.5 million for those five seasons it actually counts against the cap that much, rather than the $6 million average. There's no way you would see these 10+ year, league minimum to league maximum salary signings if that were implemented.


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    Re: NHL: Kovalchuk signs 17-year contract

    Quote Originally Posted by Stumpy View Post
    You're definitely right about that - Chicago has absolutely dismantled their squad and still have a way to go before they have some room to breathe under the cap. It will be interesting to see how much Niemi makes in his arbitration hearing (I'd imagine $3.5 million ballpark).

    That's actually what makes contracts like Kovalchuk's so frustrating: the salary cap is damn effective. It's frustrated that the same owners that forced a lockout to implement a salary cap are now circumventing it through such extreme measures.

    The salary cap is working, but needs a couple tweaks here and there. To close this loophole, teams should be held accountable for real dollars each season. So when Kovalchuk makes $11.5 million for those five seasons it actually counts against the cap that much, rather than the $6 million average. There's no way you would see these 10+ year, league minimum to league maximum salary signings if that were implemented.
    Yeah. As long as Toews, Keith, and Kane stay together, I think the Hawks can fill the roster in with solid role players and be ok. I'll be following Niemi's situation closely. Going into the playoffs, I thought he'd be what would kept the Hawks from an eventual Cup, but he really earned his stripes.


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    Re: NHL: Kovalchuk signs 17-year contract

    Quote Originally Posted by Stumpy View Post
    If there were any doubts about how much of a joke this contract is, here are the official terms, as filed and accepted by the NHL and NHLPA.
    So he "retires" after 2017 and takes a $10-12 million contract to play in Russia. After thinking it through, it's probably a good thing the Kings didn't sign him, they have too many young guys to sign in the next few years.



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    Re: NHL: Kovalchuk signs 17-year contract

    NHL rejects Kovalchuk contract for salary cap circumvention

    TSN is reporting that the 17-year, $102 million contract for Kovalchuk has been rejected by the NHL; however, they are the only media outlet reporting this so far, and other sources made this sound like a done deal (so much that Kovalchuk had a press conference today). This could be major drama if accurate, but thank goodness if it is the truth.


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    Re: NHL: Kovalchuk signs 17-year contract

    Quote Originally Posted by Al_4_State View Post
    Yeah. As long as Toews, Keith, and Kane stay together, I think the Hawks can fill the roster in with solid role players and be ok. I'll be following Niemi's situation closely. Going into the playoffs, I thought he'd be what would kept the Hawks from an eventual Cup, but he really earned his stripes.
    Ask Tampa Bay and Anaheim how their teams did when they tried the 1-2 good lines and scrubs for 3 and 4.....



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