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The All-Around Kovalchuk UFA Thread Pt. IV: NJ submits new contract

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Old
08-24-2010, 11:34 AM
  #76
alpine4life
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I dont have a clue how are ESPN with hockey ut here you go...

http://sports.espn.go.com/new-york/n...ory?id=5490915

Quote:
NHL, Devils meet over Ilya Kovalchuk

EJ Hradek
ESPN The Magazine


The New Jersey Devils continued the seemingly endless work of re-signing free-agent Ilya Kovalchuk on Monday.

Devils chairman/managing partner Jeff Vanderbeek, general manager Lou Lamoriello and Kovalchuk's agent, Jay Grossman, met with NHL executives at the league's New York office Monday.

NHL deputy commissioner Bill Daly, who confirmed the meeting about Kovalchuk's contract situation took place, said: "There was no new contract submitted. We talked conceptually."

Yahoo Sports, however, reported that terms for a new contract were presented to the NHL and that a decision from the league was expected within 24 hours.

The meeting is just the latest twist in Kovalchuk's strange free-agent summer.

On July 19, the Devils signed Kovalchuk to a 17-year, $102 million deal, but the league formally rejected the contract the following day. The NHLPA filed a grievance with the league July 26, forcing an arbitration hearing to decide the matter.

On Aug. 9, arbitrator Richard Bloch upheld the league's decision to void the deal, and Kovalchuk was returned to the free-agent market.

Since then, the Devils have continued their efforts to sign the star winger. Commissioner Gary Bettman said last week the league would be willing to advise teams on an acceptable structure for Kovalchuk's contract, but did not confirm if any team had approached the league.

E.J. Hradek is a senior writer at ESPN The Magazine. Information from ESPN.com's Scott Burnside was used in this report.

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Old
08-24-2010, 11:48 AM
  #77
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Sounds like they have agreed on money, talking with the NHL to make sure they use an acceptable structure.

I think 91 million over 13 years sounds logical.

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08-24-2010, 12:21 PM
  #78
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Quote:
Originally Posted by MauDevils View Post
Sounds like they have agreed on money, talking with the NHL to make sure they use an acceptable structure.

I think 91 million over 13 years sounds logical.
For the hell of it, I'm going to try and guess the structure:

10-9-9-9-9-8-8-8-7-4-4-3-3

Is it fair? Or is the salary too low for the final years?

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Old
08-24-2010, 12:25 PM
  #79
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Quote:
Originally Posted by MauDevils View Post
Sounds like they have agreed on money, talking with the NHL to make sure they use an acceptable structure.

I think 91 million over 13 years sounds logical.
I like that but how do you structure it because you know that Kovalchuk wants a front loaded contract! Gotta try to front load it for the 1st 10 years and keep it acceptable for the NHL to approve it.

7-7-9-9-9-9-9-9-8-8-3-2-2

What do you think?

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08-24-2010, 12:27 PM
  #80
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Quote:
Originally Posted by Dialamo View Post
For the hell of it, I'm going to try and guess the structure:

10-9-9-9-9-8-8-8-7-4-4-3-3

Is it fair? Or is the salary too low for the final years?
It would work with the NHL, I'm pretty sure...but not with Kovalchuk and his agent. They want the deal to be front loaded...and keep in mind they were aiming at 100 mils/10 years. They probably lowered their expectations but they still want to cash in in the 1st 10 years.

And of course you have all those examples of contracts that went through with the same type of structure as the one I just suggested.

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Old
08-24-2010, 12:29 PM
  #81
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Quote:
Originally Posted by MajorPain View Post
I like that but how do you structure it because you know that Kovalchuk wants a front loaded contract! Gotta try to front load it for the 1st 10 years and keep it acceptable for the NHL to approve it.

7-7-9-9-9-9-9-9-8-8-3-2-2

What do you think?
I don't think that the league would approve that $5 million drop in the third to last year.

I think that if no deal is announced by 5pm EST today that the league said the contract structure they talked about yesterday was no good.

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08-24-2010, 12:30 PM
  #82
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Quote:
Originally Posted by Dialamo View Post
For the hell of it, I'm going to try and guess the structure:

10-9-9-9-9-8-8-8-7-4-4-3-3

Is it fair? Or is the salary too low for the final years?
No way that would be rejected (wouldn't even need to go before the NHL and ask, imo), but I'd be very surprised if the $$$ is that low. Kovalchuk would be earning only $72m over the first 10 years. Under the rejected contract he was set to earn $95m over the first 10 years.

He'd earn $10m over years 11-13 under this deal, and would've earned $10.75m over 11-13 under the old deal, so it's not even like he's making any tradeback. (EDIT: And heavily front-loaded under the old deal, wherein he would've earned only 750k in year 13, and $10m in 11-12).

You really think he's going to be willing to let $23m simply disappear? I suppose he could, but I don't see it.

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08-24-2010, 12:30 PM
  #83
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Quote:
Originally Posted by MajorPain View Post
I like that but how do you structure it because you know that Kovalchuk wants a front loaded contract! Gotta try to front load it for the 1st 10 years and keep it acceptable for the NHL to approve it.

7-7-9-9-9-9-9-9-8-8-3-2-2

What do you think?
That structure does not work unfortunately. You broke the 50 percent rule on year 11. The rule is that the salary year by year cannot drop by more than 50% of the average salary of the first two years. Since 7+7 = 14, and 14 / 4 = 3.5, the salary cannot drop more than 3.5 million per year. From year 10-11, it drops by 5 million.

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08-24-2010, 12:36 PM
  #84
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Quote:
Originally Posted by Dialamo View Post
That structure does not work unfortunately. You broke the 50 percent rule on year 11. The rule is that the salary year by year cannot drop by more than 50% of the average salary of the first two years. Since 7+7 = 14, and 14 / 4 = 3.5, the salary cannot drop more than 3.5 million per year. From year 10-11, it drops by 5 million.
7-7-9-9-9-9-9-9-7-7-4-3-2

What about this than?

Kovalchuk still earns 82 millions over the 1st 10 years.

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Old
08-24-2010, 12:40 PM
  #85
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Quote:
7-7-9-9-9-9-9-9-7-7-4-3-2

What about this than?

Kovalchuk still earns 82 millions over the 1st 10 years.
Ya that would work out just fine.

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Old
08-24-2010, 01:07 PM
  #86
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Can this debacle END finally?


C'mon, Lou! C'mon Kovy! C'mon Ewww-GROSSman! Get that Contract done!!!!

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08-24-2010, 07:31 PM
  #87
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I think the next 24-48 hours are crucial.

Let's break it down - the NHL met with Grossman, Lou and Vanderbeek.

Why?

Well the parties need to know if contract "X" is agreeable to the league. They must have worked out a rough contract agreeable between the player and the team. But they needed to know if the league would veto it.

Now - ya gotta figure that Vanderbeek wants to push the rules as far as he can - so he likely structured a deal similar to Hossa/Savard/Loungo.

Ya gotta figure that if there's no deal in the next 24-48 hours, then the leagued nixed whatever was put on the table. If that's the case, then I think the league HAS to do something (sanctions - penalties -whatever) about Hossa/Savard/Luongo. I think that's a given.

And if there's no deal in 24 hours, that means that any Kovachuk deal is going to have to take a larger cap hit than probably NJ wants at this point. I think you gotta figure the number goes north of 7.5 if nothing is announced soon.

Recap

If no Kovalchuk deal breaks within the next 48 hours, expect certain penalties for Hossa, Savard and Luongo contracts and expect a Kovalchuk contract cap hit greater than 7.5 - perhaps over 8.

Do the math, people.

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Old
08-24-2010, 09:48 PM
  #88
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Quote:
Originally Posted by LetNoneIn View Post
I think the next 24-48 hours are crucial.

Let's break it down - the NHL met with Grossman, Lou and Vanderbeek.

Why?

Well the parties need to know if contract "X" is agreeable to the league. They must have worked out a rough contract agreeable between the player and the team. But they needed to know if the league would veto it.

Now - ya gotta figure that Vanderbeek wants to push the rules as far as he can - so he likely structured a deal similar to Hossa/Savard/Loungo.

Ya gotta figure that if there's no deal in the next 24-48 hours, then the leagued nixed whatever was put on the table. If that's the case, then I think the league HAS to do something (sanctions - penalties -whatever) about Hossa/Savard/Luongo. I think that's a given.

And if there's no deal in 24 hours, that means that any Kovachuk deal is going to have to take a larger cap hit than probably NJ wants at this point. I think you gotta figure the number goes north of 7.5 if nothing is announced soon.

Recap

If no Kovalchuk deal breaks within the next 48 hours, expect certain penalties for Hossa, Savard and Luongo contracts and expect a Kovalchuk contract cap hit greater than 7.5 - perhaps over 8.

Do the math, people.
Or they asked, "how about this?" and the league said "no, but better", and they went back to try again, and Luongo's contract is fine. Occam's Razor boyeeeeeeee

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Old
08-25-2010, 12:56 AM
  #89
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Quote:
Originally Posted by None Shall Pass View Post
Or they asked, "how about this?" and the league said "no, but better", and they went back to try again, and Luongo's contract is fine. Occam's Razor boyeeeeeeee
Yeaaaahhh boyeeeeeeeeeee. Don't believe the Hype, It's a Sequel....

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08-25-2010, 01:34 AM
  #90
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http://www3.theuglydance.com/?v=xunkoeegp6


For those that want to amuse themselves.....Here ya go.

(and no...I did not create that. I'm good at surfing the web, not creating webpages or THIS. lol.)

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08-25-2010, 02:05 AM
  #91
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New York Post is reporting that the NHL has turned down Kovy and the Devils again following their meeting yesterday. Supposedly they had been working on the structure of this new contract for over two weeks and they would not go back at it a third time.

This could mean Kovy bolts to the KHL.

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08-25-2010, 02:34 AM
  #92
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To add further to this, Dmitry Chesnokov wrote the following on his twitter page:
http://twitter.com/dchesnokov
Quote:
Details about NHL's rejection of the latest framework/contract for Kovalchuk tomorrow morning on Puck Daddy.

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08-25-2010, 02:52 AM
  #93
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This is very bad if true. Don't know what Kovy is going to do, though. I still think he'd rather not go to the KHL but who knows now?

On the flipside, it's Neverson and the Post.....

And Chesnokov could just be following Neverson's "story" as fact....



Or it could all be true, in which case the Devils fans are screwed. Oh well....

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08-25-2010, 02:54 AM
  #94
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Quote:
Originally Posted by glenwo2 View Post
This is very bad if true. Don't know what Kovy is going to do, though. I still think he'd rather not go to the KHL but who knows now?

On the flipside, it's Neverson and the Post.....

And Chesnokov could just be following Neverson's "story" as fact....



Or it could all be true, in which case the Devils fans are screwed. Oh well....
Correct me if I'm wrong, but I do believe that Neverson was actually the first reporter to break details on Kovalchuk's rumored contract offer from the Devils that he ended up accepting.

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08-25-2010, 02:59 AM
  #95
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Correct me if I'm wrong, but I do believe that Neverson was actually the first reporter to break details on Kovalchuk's rumored contract offer from the Devils that he ended up accepting.
No you are correct in that. But of course...Even a broken clock is right once a day...


But seriously, I hope that this rejection was simply a rejection of the First Attempt(or Rough Draft, if you will) of giving a Contract for the League to review....And the League said "No Dice. Try again."

And then a 2nd Contract will be made.....I'm hoping.

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08-25-2010, 03:10 AM
  #96
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Why go to the KHL?

Just sign with the Kings or Islanders for a year, and then next season, if he wants, when the Devils dump loads of salary, he can sign the deal he wants.

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08-25-2010, 03:11 AM
  #97
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Why go to the KHL?

Just sign with the Kings or Islanders for a year, and then next season, if he wants, when the Devils dump loads of salary, he can sign the deal he wants.
Because neither of those teams are going to contend and wont offer financial security either. Well, the Isles will but he doesnt want to play there.

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08-25-2010, 03:14 AM
  #98
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Because neither of those teams are going to contend and wont offer financial security either. Well, the Isles will but he doesnt want to play there.
Not only that...but signing a 1-year-deal is extremely risky....

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08-25-2010, 03:16 AM
  #99
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Asked why the Devils can't sign him to a deal similar to Hossa/Pronger/Luongo Bettman said: "Well all teams are treated equally. But some teams are more equal than others."

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08-25-2010, 03:18 AM
  #100
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Quote:
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Asked why the Devils can't sign him to a deal similar to Hossa/Pronger/Luongo Bettman said: "Well all teams are treated equally. But some teams are more equal than others."
Damn Turdburglar....GET SOME ROGAINE!

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