The years is not the be-all end-all. The league is worried about Kovalchuk playing out his contract, instead of retiring 5 years early. If the deal is structured in a way that alleviates most of that concern (ie, significant money in the later years), then the league has no reason not to accept it.
read the ruling all the way through. they basically had a problem with every feature of the contract.
I don't see how 15/100 (if real) solves any of those. it would smack of a panic attack by the owner/agent and a last ditch, destined to fail, but if you don't try, you fail anyway.
it doesn't mean the deal is 15/100, but if it is... wow. it's not going to work. not with what you already know. it could work (or come close) if he had alot of 7's and 8's in there, but you know that's not going to be the case.