Monday, July 5, 2010

DEVELOPING STORY: Kovy Down To 2 Teams

((HT: SI.com))

PM UPDATE: Ilya Kovalchuk's agent, Jay Grossman, released the following statement on his Twitter account Monday evening...

Ilya Kovalchuk choices have been narrowed down, details to be finalized but no announcement tonight....

This counteracts a report in the New York Post by Mark Everson, that free agent Kovalchuk would re-sign today with the New Jersey Devils. A source told the Post that the deal will be seven years for US$60 million.

The Kovalchuk derby was down to two teams -- the Devils and New York Islanders -- after the Los Angeles Kings announced their offer had been rejected. The Islanders were reportedly offering $100 million over 10 years, but the source says the offer was not a formal bid, and the Kings didn't go that high on their bid either.

Kovalchuk turned down Atlanta's offer of $100 million for 12 years prior to his being traded to New Jersey on February 4th. The KHL has also reportedly shown interest, although the report in the Post suggests that the dollar figure is only $9 million-per year for four years.

Here's what Lou Lamioriello is keeping should he sign...
((HT: NHL/MSG+/DevilsHQ))


The HQ had long since known that the Devils, and Lamoriello, like to work the bushes for all their contract and trade negotiations...

Re-upping Kovalchuk would be no different... and not a surprise. The Islanders are not in a position to win consistently, the Kings could contend in the West, but the Devils give him the best chance to advance long-term.

But, as pointed out by one of our readers down in the Comments section unless there's some serious capology going on, the terms would put the Devils over the 10-percent marker on the cap figure of US$59.4-million. Some other deals would have to be jettisoned for the Kovalchuk deal to go down as structured...

2 comments:

Anonymous said...

Sorry but this deal has not been made official yet. Because of Cap space, Lou must make trade(s) in order to secure Kovalchuk. If he were to sign with the Devils now, that would put them over the 10% allowed, and the league would null the deal. I heard that Russia is now back in the mix, if he cannot get a deal done with NJ. Long shot team is the Isles.

Jon Nelson said...

Anon,

We agree with you on this one...

We fixed the headline...