The NHL story of the summer has finally come to an end. Ilya Kovalchuk has signed a deal with the New Jersey Devils (for the second time this summer). And unlike the first contract, this $100 million, 15 year deal has been approved by the NHL. Now he can finally put the contract negotiations behind him and get prepared for the Devil’s first game against the Dallas Stars.
The first Kovalchuk deal with the NJ Devils was not approved by the NHL on grounds that it deliberately circumvented the league’s salary cap. It was a 17 year $102 million contract, with Kovalchuk receiving just under 80 percent ($80 million) in the first 7 years. In the new deal Kovalchuk will be paid $93 million up until the 2023-2024 season. Though the differences in amount between the two contracts may seem small in perspective, the major difference will by felt in the New Jersey Devils salary cap. Read More