Filed under: Devils, NHL Free Agency, NHL EconomicsWe've been down this road before, but it appears as if the Ilya Kovalchuk contract situation is finally, mercifully, close to an end result.
On Friday, multiple media outlets, including TSN's Darren Dreger, ESPN's EJ Hradek and Tom Gulitti of The Bergen Record are all reporting that the NHL and NHLPA have come to an agreement on an ammendment to the CBA in regards to the long-term contracts that have become the bane of the league's existence the past two years.
The 17-year contract that the Devils originally had with Kovalchuk this summer was obviously the breaking point, dragging out his free agency to this point in early September. After the Devils submitted a revised contract last week (a reported 15-year pact worth $100 million) the league was supposed to make a decision on whether or not to approve it by 5 p.m. ET on Wednesday.
Instead of reaching a decision, the deadline was pushed back to Friday, prolonging the situation even further. According to Friday's reports, the newest contract will be approved as part of the new CBA ammendment.
Not long after Wednesday's deadline was delayed, reports surfaced that the NHL had issued an ultimatum to the NHLPA regarding contracts like the ones signed by Roberto Luongo and Marian Hossa, among others. Those reports, however, were disputed in the sense that it wasn't necessarily an ultimatum, but simply a negotiation between the two sides. Either way, the agreement will also lead to the Luongo and Hossa deals being approved, as well.
According to Gulitti, via Twitter, the "CBA amendment would involve stipulations on cap hit for deals going past age 35 and age 40."
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