As you all have probably heard by now, the NHL has rejected Ilya Kovalchuk's ridiculous 17-year $102 Million contract on the grounds that it circumvents the salary cap.
Thank God! Finally the NHL does something right! Personally, I hate all these ridiculous 10+ year contract, I think the limit should be 5 or 6 years. But what bugs me about this contract is not so much the ridiculous term, but the fact that the Devils and Kovalchuk knew that he would not be playing the full term of the contract. If this contract was allowed, could you just imagine the insane terms teams would be signing players for (just imagine: Steven Stamkos signed for $250 million over 35 years!)
According to this Sportsnet article the Devils won't appeal the NHL's decision. Assuming that there's no grievance filed by the NHLPA (who has only 5 days to file one) Kovalchuk is a UFA once again. I highly doubt this will mean anything, I imagine he will just re-sign with the Devils for another multi-year but less ridiculous contract.
Until next time folks have a good one!
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