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New Kovy Update ("As the Kovy Turns")

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David Puddy    15

I agree with Deadspin, these type of deals are crap and should never have been allowed.

Since they have been allowed I'm glad the Devils have one, as it's a big competitive advantage to have.

I agree. The CBA should either limit the spread of a deal (e.g., the smallest yearly salary cannot be less than x% of the largest), or require the total cap hit and total salary paid to be equalized if a player retires early (i.e., teams would have to "pay back" the cap in the years after a player on a front loaded deal retires).

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Sickman    0

I really thought Kovalchuk was as good as gone when he flew out to LA. But this is obviously great news, especially if the #'s being thrown around are correct. I'm not worried about Parise going anywhere so just thinking about both he and Kovy being locked up long term, well it's a pretty grand day to be a Devils fan. Now some of the dead weight will have to be booted as well. This team really needed a nice kick in the ass and Lou has delivered that big time this summer.

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I believe this is the article with bob hartley commenting on his talks with Kovalchuk.

it's in French so if there is anyone on that took some years and can translate or is good with those online one heres the link

http://www.ckac.com/hockey/nouvelles/kovalchuk-avait-adore-son-sejour-au-new-jersey-23145.html

http://translate.google.com/translate?js=y&prev=_t&hl=en&ie=UTF-8&layout=1&eotf=1&u=http%3A%2F%2Fwww.ckac.com%2Fhockey%2Fnouvelles%2Fkovalchuk-avait-adore-son-sejour-au-new-jersey-23145.html&sl=fr&tl=en

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Devils731    36

I believe this is the article with bob hartley commenting on his talks with Kovalchuk.

it's in French so if there is anyone on that took some years and can translate or is good with those online one heres the link

http://www.ckac.com/hockey/nouvelles/kovalchuk-avait-adore-son-sejour-au-new-jersey-23145.html

You mean this isn't good enough?

http://babelfish.yahoo.com/translate_url?doit=done&tt=url&intl=1&fr=bf-home&trurl=http%3A%2F%2Fwww.ckac.com%2Fhockey%2Fnouvelles%2Fkovalchuk-avait-adore-son-sejour-au-new-jersey-23145.html&lp=fr_en&btnTrUrl=Translate

(CKAC Sports) - According to the chronicler Bob Hartley, Devils collected the fruits of the transaction which brought Ilya Kovalchuk to the New Jersey last February.

Bob Hartley would not be surprised to see a contract of such a dimension.

“Lou Lamoriello invents ways of writing contracts and it is one of the most creative managing directors of the LNH. When one has the well analyzed details, one will see whether Devils are well put for several years and the future says to us if Devils saw just. ”

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Marshall    192

I had a brutal day at work and to come home to this nugget of gold is fvcking amazing.

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jim777    14

These CBAs are contracts drawn up by lawyers and cut throat businessmen - there's no 'letter of the law/spirit of the law" issue here. There are only businessmen who know what the boundaries are and will work their advantage in any way, shape, or form they can - and business men who don't/won't.

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RSC    28

I believe this is the article with bob hartley commenting on his talks with Kovalchuk.

it's in French so if there is anyone on that took some years and can translate or is good with those online one heres the link

http://www.ckac.com/hockey/nouvelles/kovalchuk-avait-adore-son-sejour-au-new-jersey-23145.html

Basically it says that Kovalchuk loved his time in Jersey, talks with the Kings (after their 15yr, $80milion offer) were getting there, but weren't where Kovy wanted them to be, and that Lou is one of the more creative GMs in the leauge when it comes to writing contracts and playing with the cap, so the writer believes that if anybody can make this all work, its him.

Edited by RSC

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Devils731    36

These CBAs are contracts drawn up by lawyers and cut throat businessmen - there's no 'letter of the law/spirit of the law" issue here. There are only businessmen who know what the boundaries are and will work their advantage in any way, shape, or form they can - and business men who don't/won't.

Ya, but there is, I believe, a good of the league clause where the NHL can void any contract it believes is not in the best interest of the league. It should have done that with the first of the monstrously front loaded contracts, that would have prevented the rest.

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Neb00rs    179

I agree with Deadspin, these type of deals are crap and should never have been allowed.

Since they have been allowed I'm glad the Devils have one, as it's a big competitive advantage to have.

Should these deals not happen? Of course not. But you can't fault the Devils for taking advantage of a perfectly legit loophole. If you don't want this to happen then make rules against it.

Sorry I didn't repost the link there CADevilsFan.

In other hip hop news:

Can someone cue me in on how Kovy's price is only 6 mil per if he is reported to make 10 mil. over the first 8 seasons? I'm not too hip to all the ins and outs of the cap.

6 million dollar cap hit. (102m/17yr) - small money on the back end

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brickwall30    0

I was just thinking of the possible ways that the CBA could deal with contracts like this and most of them are just not practical because they would have to either give exceptions for current ones or SEVERELY hamstring the teams that gave them out.

The solution I came up with seems like it would work out and could be implemented retroactively without to much pain.

Make it like the over 35 rule where the cap hit counts against the team for every year of the contract no matter whether the player retires or not. Those kind of dead contracts could be used benificially by teams nearing bankruptcy by getting them over the floor for nothing and could allow teams with higher payrolls to get high profile free agents as well as keep homegrown stars once they become UFA

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Should these deals not happen? Of course not. But you can't fault the Devils for taking advantage of a perfectly legit loophole. If you don't want this to happen then make rules against it.

6 million dollar cap hit. (102m/17yr) - small money on the back end

I see that but the details are 8 years 10 mil, 7.5 each year after.

I'm confused.

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MartysGlove    1

Hmm.. I don't think that report is possible

10 mill for the first 8 years

7.5 for next 2

Only leaves 7 mill for 7 years

But u can't go from 7.5 --> 1 mill per

http://www.nhlscap.com/cap_faq.htm#100pct

If someone can work it out keeping that rule in mind, much appreciated.

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Neb00rs    179

I see that but the details are 8 years 10 mil, 7.5 each year after.

I'm confused.

The report said 7.5 for 2 years after. It will decrease at big increments after that.

Of course, these are all just rumors.

Edited by ben00rs

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Devils731    36

Hmm.. I don't think that report is possible

10 mill for the first 8 years

7.5 for next 2

Only leaves 7 mill for 7 years

But u can't go from 7.5 --> 1 mill per

http://www.nhlscap.com/cap_faq.htm#100pct

If someone can work it out keeping that rule in mind, much appreciated.

10-10-10-10-10-10-10-10-7.5-7.5-2.5-1.5-1-.5-.5-.5-.5

That would do it, I believe.

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David Puddy    15

I was just thinking of the possible ways that the CBA could deal with contracts like this and most of them are just not practical because they would have to either give exceptions for current ones or SEVERELY hamstring the teams that gave them out.

The solution I came up with seems like it would work out and could be implemented retroactively without to much pain.

Make it like the over 35 rule where the cap hit counts against the team for every year of the contract no matter whether the player retires or not. Those kind of dead contracts could be used benificially by teams nearing bankruptcy by getting them over the floor for nothing and could allow teams with higher payrolls to get high profile free agents as well as keep homegrown stars once they become UFA

That won't work because it will deter teams from signing long term contracts. If the player decides to retire because he can't or doesn't want to play anymore, the team will be stuck with the cap hit.

The fairest solution for a contract that terminates early (retirement or career-ending injury) is to require the total cap hit to equal the total salary paid. If not, the team would have a cap hit or cap credit to cover the difference over the remaining years of the contract.

So, for a simple example, a player earns 9m in the first year and 1m in the second year. 5m cap hit. He retires after the 1st year. The team has paid 9m in salary and only had a total 5m cap hit. There is a 4m difference which the team should be required to pay back, meaning that player is on the cap next year for 4m even though he retired.

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Amberite    12

I see that but the details are 8 years 10 mil, 7.5 each year after.

I'm confused.

The cap hit has nothing to do with the paycheck the player actually receives. A team's cap hit is the AVERAGE of the value of the contract. $102M / 17yrs = $6M per year cap hit.

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Devils731    36

If he retires do we still have the 6M cap hit?

No, he's signing it before he turned 35 so it won't count after he is retired.

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The report said 7.5 for 2 years after. It will decrease at big increments after that.

I stand corrected on that, but where does a 6mil cap hit come in when the reported first 10 years is 8 mil?

The cap hit has nothing to do with the paycheck the player actually receives. A team's cap hit is the AVERAGE of the value of the contract. $102M / 17yrs = $6M per year cap hit.

Thanks. That makes sense now.

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SS-SS    3

OK do we keep Kovy or de start a thread to get the new Kovalchuk nickname ???

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MartysGlove    1

OK do we keep Kovy or de start a thread to get the new Kovalchuk nickname ???

I think we should just keep this thread and do all game day threads, etc here for the next 17 years with Kovalchuk in a Devils jersey

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CADevilsFan    0

OK do we keep Kovy or de start a thread to get the new Kovalchuk nickname ???

Daddy Kovalbuck$?

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