NHL '10/'11 Thread.
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Are the entire length of the contracts in the NHL guaranteed or is like in the NFL where they usually get a certain amount of guaranteed money from the start but can be released at any time? Making even a ten year contract with a player is a bad idea for a lot of reasons. A seventeen year one sounds like a joke.
Vlad The Impaler
Power Slave
HAHA...good for the Devils. They deserve what is comming to them.
I mean really 17 years, there is NO way he is going to last that long. Just like with the Crapitals and OV.
Toronto - The NHL has rejected Ilya Kovalchuk's 17-year, $102 million contract with the New Jersey Devils on grounds that it circumvents the league's salary cap.
The report is according to TSN Canada.
The rejection is likely due to the way the deal is structured, which was previously reported by the Newark Star-Ledger. He was due to earn $6 million in each of the next two seasons, $11.5 million from 2012-17 and $10.5 million the following year. The salary was scheduled to fall off after that until he made $550,000 annually in the final five years of the deal. He would have been 44 years old when the contract was set to conclude in 2027.
The way the current collective bargaining agreement is structured, a player who signs a deal before the age of 35 can eventually retire and have his contract come off a team's salary cap; however, teams must negotiate in a good faith effort to have the player remain in the league for the duration of the contract. It appears the Devils frontloaded the deal so Kovalchuk could have earned as much money as possible while providing the lowest possible cap hit for the team.
Similar investigations were also launched last offseason for Philadelphia's Chris Pronger and Chicago's Marian Hossa, but the league did not void either of those contracts. Pronger signed a seven-year extension worth $35 million, where he makes $525,000 in each of the final two seasons, while Hossa makes $1 million or less in each of the final four years of his 12-year, $62 million deal.
Kovalchuk was the hottest commodity on this year's free agent market, as he was pursued by the Devils, Kings, Islanders and a Russian club among others. He has turned down reported offers of $70 million over seven years and $100 million over 12 years from the Thrashers, who finally gave up on re-signing the sniper and sent him to New Jersey in a package that netted Atlanta defenseman Johnny Oduya, right wing Niclas Bergfors, forward Patrice Cormier and a first-round draft pick.
The report is according to TSN Canada.
The rejection is likely due to the way the deal is structured, which was previously reported by the Newark Star-Ledger. He was due to earn $6 million in each of the next two seasons, $11.5 million from 2012-17 and $10.5 million the following year. The salary was scheduled to fall off after that until he made $550,000 annually in the final five years of the deal. He would have been 44 years old when the contract was set to conclude in 2027.
The way the current collective bargaining agreement is structured, a player who signs a deal before the age of 35 can eventually retire and have his contract come off a team's salary cap; however, teams must negotiate in a good faith effort to have the player remain in the league for the duration of the contract. It appears the Devils frontloaded the deal so Kovalchuk could have earned as much money as possible while providing the lowest possible cap hit for the team.
Similar investigations were also launched last offseason for Philadelphia's Chris Pronger and Chicago's Marian Hossa, but the league did not void either of those contracts. Pronger signed a seven-year extension worth $35 million, where he makes $525,000 in each of the final two seasons, while Hossa makes $1 million or less in each of the final four years of his 12-year, $62 million deal.
Kovalchuk was the hottest commodity on this year's free agent market, as he was pursued by the Devils, Kings, Islanders and a Russian club among others. He has turned down reported offers of $70 million over seven years and $100 million over 12 years from the Thrashers, who finally gave up on re-signing the sniper and sent him to New Jersey in a package that netted Atlanta defenseman Johnny Oduya, right wing Niclas Bergfors, forward Patrice Cormier and a first-round draft pick.
PlasmaTwa2
The Second-Hottest Man in my Mother's Basement
The NHL might have just lost Kovy to the KHL. I don't know how they are going to try and fix this one, but Kovy doesn't seem the type to take less money.
Yeah, he won't take little money, but do you think the KHL is going to be able to compete at all with the NHL dollars?
If it's a money deal, they just could have spread it out a bit more (no 11.5 million dollar years).
Monster contracts should just not be allowed. But that's just my opinion, and I'm a total bastard.
Vlad The Impaler
Power Slave
Yeah! Take that NJ!:nanner:
Fuck yeah.
Yeah, if the contract is no good, there is no way NJ can afford him.
PlasmaTwa2
The Second-Hottest Man in my Mother's Basement
Be quiet, Mr. "Last-night-I-didn't-have-any-hope".
Oh my god. 17 years ? That's crazy.
Vlad The Impaler
Power Slave
They should just do what other leagues do and have an accelerated cap hit when somebody is released or retires in this instance. A team might be able to delay some of it for a while but once the cap hit does happen it can ruin the amount of cap space they have and ruin the team for some time.
They're typically guaranteed, but there are loopholes in the CBA that allow guaranteed contracts to be reworked in the event of an injury of a specific nature, or if a player accounts for more than 25% of a teams cap hit if the team is over the cap.
Money wise, it's really only a 10 year contract, as after that, you're looking at a smaller and smaller cap hit.
GibbsGrad2002
Mr. Nice gallery
I cant believe it but they have to follow the rules of the NHL
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