[News] Ilya Kovalchuk retiring

[Bertuzzied]

Originally Posted by Tinordi

Agreed kehatch. That contract was the franchise's biggest liability, convenient that it now evaporates with only a $250k cap hit in advance of a potential sale?

Like Crosby's hat said, it didn't even cost them that much money. That 1st rounder hurt though. $6mil X2 years and half a season of $11million

2010-11$6,000,000$6,000,000$0$0$6,666,667
2011-12$6,000,000$6,000,000$0$0$6,666,667
2012-13$11,000,000$11,000,000$0$0$6,666,667
2013-14$11,300,000$11,300,000$0$0$6,666,667
2014-15$11,300,000$11,300,000$0$0$6,666,667
2015-16$11,600,000$11,600,000$0$0$6,666,667
2016-17$11,800,000$11,800,000$0$0$6,666,667
2017-18$10,000,000$10,000,000$0$0$6,666,667
2018-19$7,000,000$7,000,000$0$0$6,666,667
2019-20$4,000,000$4,000,000$0$0$6,666,667
2020-21$1,000,000$1,000,000$0$0$6,666,667
2021-22$1,000,000$1,000,000$0$0$6,666,667
2022-23$1,000,000$1,000,000$0$0$6,666,667
2023-24$3,000,000$3,000,000$0$0$6,666,667
2024-25$4,000,000$4,000,000$0$0$6,666,667

[SebC]

Well, at least they're making a good push for McDavid.

(Curses! I want McDavid!)

[Tinordi]

http://www.nypost.com/p/news/busines...z0tZtGm3w7TEdK

The New Jersey Devils are again skating on very thin financial ice, The Post has learned.

The team’s cash-strapped owner, less than six months after restructuring its debt, has missed an interest payment and now risks defaulting on its new loan, a source with direct knowledge of the situation said.

The latest financial blow-up at Devils Arena Entertainment — a missed interest payment in April of nearly $3 million — has surprised those close to the once-proud NHL franchise.

The NHL loaned the team roughly $25 million last year and agreed in December to not ask for payment until July 2014. In recent months, three sources close to the situation said, the league ponied up again, this time advancing about $5 million in licensing and other shared revenue.

As a sizable creditor to the Devils, the NHL must now approve any major financial moves the team makes. “I’m amazed at how far the NHL has gone out on a financial limb,” a second source close to the situation said.

[nik-]

Originally Posted by Hesla

No we wont... Their pick will be forfeited next season.

LOOOOOOOOOOOOOOOOOL right.

Holy crap ... The Devils just got it prison shower style.

[jeffman]

Originally Posted by Tinordi

Agreed kehatch. That contract was the franchise's biggest liability, convenient that it now evaporates with only a $250k cap hit in advance of a potential sale?

Convenient in the business sense, but not so for the fans

[Huntingwhale]

Hahaha wow, I take a break to actually do some work and come back to this?? Absolutely unreal. I gotta feel for Devil's fans. Wow.

All I've got to say, is THANK YOU FEASTER for not drafting Nischuskin. Russian factor is absolutely 100% real. All the posters who claimed it was a myth are eating crow as we speak.

Unreal.

[Locke]

Originally Posted by Tinordi

Agreed kehatch. That contract was the franchise's biggest liability, convenient that it now evaporates with only a $250k cap hit in advance of a potential sale?

As I stated in an earlier post, they were barely solvent when they signed that contract in the first place.

[kehatch]

Originally Posted by Tinordi

Agreed kehatch. That contract was the franchise's biggest liability, convenient that it now evaporates with only a $250k cap hit in advance of a potential sale?

If NJ threatened to toll the NHL contract chances are Kovalchuk doesn't retire. He would be leaving 77 million on the table and would be unable to sign with the KHL or any other pro hockey league.

I wouldn't be surprised if Kovalchuk approached them before last season wanting to retire and they said no. Now with the situation in front of them they asked him if he still wants to.

The second paragraph is unsubstantiated speculation. But NJ had to be involved some how.

[squirtle]

russians, not even one.

[Flash Walken]

So, 250k per year, but how many years? The remaining length of the deal?

[ResAlien]

Teams should just put a big red X over Russia on their scouting map

edit: 12 years Flash

[MissTeeks]

Originally Posted by Flash Walken

So, 250k per year, but how many years? The remaining length of the deal?

2025

Tom Gulitti‏@TGfireandice1h
Devils will be charged $250,000 vs. cap for each season through 2024-25 as the cap recapture penalty.

[FlamesAddiction]

Originally Posted by MissTeeks

2025

Tom Gulitti‏@TGfireandice1h
Devils will be charged $250,000 vs. cap for each season through 2024-25 as the cap recapture penalty.

As much as that sucks, the contract was terrible and bad for the economics of the game. I hope this lesson is one that a lot of teams learn from.

It does suck for the fans though.

[RyZ]

This has nothing to do with him being Russian, right?

[Flames Draft Watcher]

Now Lamoreillo's decision to not forfeit the 29th overall pick two years ago looks like a colossal blunder. If he was the Flames GM I know many would be calling for his head over that.

[Hockey_Ninja]

Originally Posted by nik-

Looks like we've found the team who's going to be fighting us in the Reinhart/Ekblad sweepstakes.

They can't. They lose their first rounder next year for Kovy's contract which makes this even more of an disaster.

[valo403]

Originally Posted by HockeyInTheHimalayas

The Sochi Olympic hockey games fall under the auspices of the IIHF. In order to play in any tournament under the IIHF umbrella, a player requires an IIHF transfer card as a permit to play. All European leagues, including the KHL, fall under the jurisdiction of the IIHF, hence "IF" Ilya Kovalchuk wants to play in the olympics, he has to be signing on with a member team, which is why I can believe the rumours that he'll be signing with SKA quite soon.

Anyways, although I'm cheering for Canada all the way, I do hope Kovalchuk can compete in the Olympics, because I want Canada to win against the best the opposition can field.


http://www.iihf.com/home-of-hockey/c...igibility.html

Pretty sure you don't need to be playing with a member team to have a valid transfer card. A player who is unattached can still have a valid transfer card.

[FlamesAddiction]

Ask youself honestly, if you were a Canadian playing in Russia and the Calgary Flames came knocking saying that they would pay you more if you retired from the KHL and came to the NHL, would you do it?

[Tinordi]

Very possible he plays a year in purgatory and comes back to the NHL. Something just doesn't sit right, leaving $70 million on the table to play a game?

[albertGQ]

Bob McKenzie is saying Kovy is free to play in the KHL because Devils are not going to toll his contract