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The W - Hockey - Devils (reportedly) sign Kovalchuk to a 17 year contract
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El Nastio
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Since: 14.1.02
From: Ottawa Ontario, by way of Walkerton

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#1 Posted on | Instant Rating: 3.85
Click Here (sportsillustrated.cnn.com)

17. Years.

I know he's good player.....but still. 17 years! You'd think teams would learn after DiPietro's contract or something.



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odessasteps
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Since: 2.1.02
From: MD, USA

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#2 Posted on | Instant Rating: 6.59

via down goes brown, "kovalchuk's contract"

http://farm5.static.flickr.com/4079/4810346739_ac3e5ae191_b.jpg



Mark Coale
Odessa Steps Magazine
ISSUE FOUR - OCTOBER 2009
thecubsfan
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Since: 10.12.01
From: Aurora, IL

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#3 Posted on | Instant Rating: 10.00
NHL contracts, just like NFL contracts, can't be taken at face value at this point. They're both using cap figure schemes, trying to get around the system.

The cap value of NHL contracts are the average value of the contract over the length of the years. They've signed to pay Kovalchuk under a million dollars for the last six years of his contract. Either he'll retire or redo his deal before that point, but it brings the average down from $9.5 to $6 mil, and that's even with some earlier drops.

It doesn't seem like a good thing for the NHL, and I bet length of contracts is an issue in the next CBA.



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JustinShapiro
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Since: 12.12.01
From: Pittsburgh, PA

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#4 Posted on | Instant Rating: 8.52

    Either he'll retire or redo his deal before that point, but it brings the average down from $9.5 to $6 mil, and that's even with some earlier drops.

    It doesn't seem like a good thing for the NHL, and I bet length of contracts is an issue in the next CBA


You can't re-do contracts to move cap space around in the NHL; the cap hit is the same average for the length of the contract no matter what. But retirement is the whole loophole for this; guys on these long deals are intended (without saying it) to retire in their late 30s when the yearly salary drops to the low millions. And when a player retires, his cap hit is erased.*

* if he signs the contract before the age of 34. Contracts signed by 34+ players who retire keep their cap hit for the duration.

It's a pretty stupid loophole but there's no way to "prove" they're in bad spirit because there's precedent of guys like Chelios playing at age 44. I hope they close it ... but I hope the Penguins use it to lock up Crosby and Malkin first.

(edited by JustinShapiro on 19.7.10 2321)
TheOldMan
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Since: 13.2.03
From: Chicago

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#5 Posted on | Instant Rating: 4.52
    Originally posted by odessasteps
    via down goes brown, "kovalchuk's contract"


I imagine the Koharski clause is pro forma with the Devils when signing a free agent.

    Originally posted by thecubsfan
    It doesn't seem like a good thing for the NHL, and I bet length of contracts is an issue in the next CBA.


I still think allowing the Blackhawks to avoid $5.6 million of Christobal Huet cap hit by parking him with the Rockford Ice Hogs all year is a funnier loophole, but a 17-year deal is pretty funny.

If I understand this deal, the Devils are on the hook for serious money for the next 11 seasons unless Kovalchuk literally has a career-ending injury, and has to retire. This could still go real bad for the Devils if he blows out a knee and becomes Kerry Wood on skates.

The bigger market teams are always going to have more money to toss around, and if there are rules - there will be loopholes. But I think the NHL cap is a lot tighter than the NFL's.



JustinShapiro
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Since: 12.12.01
From: Pittsburgh, PA

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#6 Posted on | Instant Rating: 8.52
DEAL REJECTED
ahahaha
El Nastio
Andouille








Since: 14.1.02
From: Ottawa Ontario, by way of Walkerton

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#7 Posted on | Instant Rating: 3.85
    Originally posted by JustinShapiro
    DEAL REJECTED
    ahahaha


Click Here (tsn.ca) for the story.

An unprecedented contract meets an unprecedented demise.



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cfgb
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Since: 2.1.02
From: Ottawa, Ontario

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#8 Posted on | Instant Rating: 4.74
There's discussion amongst the league that Bettman wants Kovalchuk in LA to assist in big market TV exposure, and that's his primary motivation to end this. I'm gonna laugh when Kovy says "screw this" and runs off to Russia

The kicker of this contract is that it's only about $6 mil for the first 3 years. The owners in NJ are trying to sell, and he'll provide them a marquee name signed for life, ... See Moreat virtually no real cost to them for the first 3 years. THEN it kicks in $11.5 per year, which the new owners will have to pay. And then trails off to sweet nothings after he's in retirement and the entire thing will be voided anyway, so the only benefit is a lower cap hit while the new owners pay out the ass.

LOOPHOLES! Created to be exposed!

People are citing the Pronger contract as the same thing, but it's not, cuz he signed after the age of 35 and at least all the dough is guaranteed because of the age. (Which is why Ottawa should be furious at the Gonchar deal, if he gets hurt, they're obligated to it 100%. Volchenkov would have come at no risk for less money.)

Can Hossa's deal be retroactively voided?



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JustinShapiro
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Since: 12.12.01
From: Pittsburgh, PA

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#9 Posted on | Instant Rating: 8.52
    Originally posted by cfgb
    Can Hossa's deal be retroactively voided?


I think the difference is Hossa only 'really' has two dummy years at close to league minimum (and another two that drop to $1M, but that could be considered an appropriate amount for a then-40-year-old). Kovo has five at league minimum all in his 40s and that tips the bullshit scale too far.
odessasteps
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Since: 2.1.02
From: MD, USA

Since last post: 35 days
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#10 Posted on | Instant Rating: 6.59

I heard the argument made the other day that the discrepancy between big money and small money teams is greater now than it was before the salary cap.



Mark Coale
Odessa Steps Magazine
ISSUE FOUR - OCTOBER 2009
Loosie
Boudin rouge








Since: 2.1.02
From: Kitchener, Ontario

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#11 Posted on | Instant Rating: 1.58
    Originally posted by JustinShapiro
      Originally posted by cfgb
      Can Hossa's deal be retroactively voided?


    I think the difference is Hossa only 'really' has two dummy years at close to league minimum (and another two that drop to $1M, but that could be considered an appropriate amount for a then-40-year-old). Kovo has five at league minimum all in his 40s and that tips the bullshit scale too far.


That's my understanding to. Does Kovolchuck really think he'll be playing until he's 44? Do the Devils think this too? I find that kind of far fetched as the average NHL retirement age is around 40, with Chelios being the exception. I still can't believe Lou Lamorillo still signed a contract like this.

My understanding on the Hossa deal is that NHL held that one up too, but ultimately agreed to let it pass. Probably because of what Justin said, there was only 1 or 2 years that were near league minimum pay, not 5.

(edited by Loosie on 22.7.10 1100)


Loosie.
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dunkndollaz
Banger








Since: 3.1.02
From: Northern NJ

Since last post: 4 days
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#12 Posted on | Instant Rating: 2.24
Loophole Lou knew he was stretching the envelope but expected the NHL to approve it anyway. Too bad Lou. Now try and play by the same rules as the rest of the NHL.





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