ESPN reports Kovalchuk signs for 17 years, 150 Million

[JD]

....:rofl:

He'll be 45 years old after that ends.

[Ebenezer]

Link? team?

And he will never see the end of the contract.

[Dr. Lecter]

Devils.


They are now about 4.6 over the cap. They will need to clear space before TC ends

[JD]

Link? team?

And he will never see the end of the contract.
http://lmgtfy.com/?q=Kovalchuk+17+year

[RockStar36]

Say what you want about the Sabres but at least they don't give out contracts like that. Yuck.

[DMBcrew36]

Say what you want about the Sabres but at least they don't give out contracts like that. Yuck.

It's funny, because usually the Devils are a pretty good model of fiscal responsibility and team-building. This deal just seems completely uncharacteristic of them.

[RockStar36]

It's funny, because usually the Devils are a pretty good model of fiscal responsibility and team-building. This deal just seems completely uncharacteristic of them.

Seems like a panic move since they know Brodeur doesn't have much time left.

[Ebenezer]

Seems like a panic move since they know Brodeur doesn't have much time left.

Or a change in long term strategy to change "systems" once he retires?

[trapezeus]

am i reading this correctly, the devils just signed on for 17 years of first round playoff exits?

[DraftBoy]

That is the stupidest ****ing thing Ive ever seen.

[Mr. Pink]

Well I see why he didn't bolt for the KHL now!

[trapezeus]

nytimes sports section say laggenbrunner and another vet need to be moved to get under cap....any chance the sabres go for one of the devils vets?

[Bling]

Well, dumb move by team. I can't fathom signing someone for 17 years.

[JD]

Well, dumb move by team. I can't fathom signing someone for 17 years.
Especially when that someone is already 27

[SabreEleven]

Well, dumb move by team. I can't fathom signing someone for 17 years.

They make it that long to take a lower cap hit. It's front loaded but they average out the amount divided by the years. Bucky explains it here

http://www.buffalonews.com/2010/07/19/1117632/gleason-devils-show-how-salary.html

[SabreEleven]

nytimes sports section say laggenbrunner and another vet need to be moved to get under cap....any chance the sabres go for one of the devils vets?

0

[Dozerdog]

The current NHLPA agreement has the salary cap hit for contracts averaged over the length of the deal.

The deal is 17 yrs, 102 million, not 150 million.

So in the years Kovi makes 11.5 million a season, the cap hit is (I think Yrs 3 through 6) the cap hit is only 6 million a season. The final half dozen years of the contract are for $500,000. In 17 years, that won't even be the league minimum salary.

In 10 years, $6 million is what you would be paying 2nd liners. The expectation is that Kovi will retire at 37-38 years of age with 90- some millionin his pocket.

The big negative is risk of injury or risk that he becomes the next Alexi Yashin

The year to year number over the long haul is manageable. Short term- not so much

[TheGhostofJimKelly]

Now the NHL has to approve it, there are reports they aren't going to. Darcy, take note, Lou Lamarello even takes a chance.

[trapezeus]

dozer, well said, but the one thing you didn't mention is the idea that the salary cap may fall to $48 mm the following season. it's kind of stunning to me that a team would take this chance with the actual league in such disarray with economically failing teams. No one knows how they managed to pump up the salary cap this year. it defies logic.

you get a second recession, you get basketballs soap opera to capture casual sports fans, and you get another lockout (which has been discussed a little) and you (as owner of the devils) literally have squat coming in through the gate, zero on tv deals, and the nhl trying their damnest to save 12 other franchises first. it's kind of crazy.

[RockStar36]

dozer, well said, but the one thing you didn't mention is the idea that the salary cap may fall to $48 mm the following season. it's kind of stunning to me that a team would take this chance with the actual league in such disarray with economically failing teams. No one knows how they managed to pump up the salary cap this year. it defies logic.

you get a second recession, you get basketballs soap opera to capture casual sports fans, and you get another lockout (which has been discussed a little) and you (as owner of the devils) literally have squat coming in through the gate, zero on tv deals, and the nhl trying their damnest to save 12 other franchises first. it's kind of crazy.

Where did you hear the cap is falling so dramatically?

Also, it's the NBA that will have a lockout next season, so the NHL isn't doing that bad as of right now.

Also, if the NHL were to hit some kind of lockout again, this makes sense for the Devils. Get Kovalchuk now and take advantage before Brodeur gets too old for another Cup.

[RockStar36]

Now the NHL has to approve it, there are reports they aren't going to. Darcy, take note, Lou Lamarello even takes a chance.

Unless you want Darcy to physically take money from TG's pockets to spend like this, I don't think you can fault him. The Devil's owner is willing to fork over huge money for a deal like this. The only thing Lamarello did was circumvent the rules for a small cap hit.

[TheGhostofJimKelly]

Unless you want Darcy to physically take money from TG's pockets to spend like this, I don't think you can fault him. The Devil's owner is willing to fork over huge money for a deal like this. The only thing Lamarello did was circumvent the rules for a small cap hit.

No. it isn't about the money, it is about the team taking a chance.

[JD]

Multi-year contracts are averaged out for cap purposes, so Kovalchuk's contract will only cost the Devils $6 million per year in cap space. Kovalchuk will receive the bulk of the contract - around $95 million - in the first ten seasons of the contract. The first two seasons will be at $6 million, with five seasons at $11.5 million to follow. From there, the contract decreases to $10.5 million, then $8.5 million, then $6.5 million, before reducing greatly for the final years.

http://blogs.forbes.com/sportsmoney/2010/07/kovalchuk-signs-historic-17-year-deal/

[SkateZilla]

am i reading this correctly, the devils just signed on for 17 years of first round playoff exits?
Rahahahahaha

[Nighthawk]

Say what you want about the Sabres but at least they don't give out contracts like that. Yuck.

Yeah, good thing they don't try to win the cup. I can see your point.

Seriously though, the contract is stupid and just another example of the big market teams finding loopholes. Great player...stupid contract.