All I can say is WOW. In a stunning turn of events, the New Jersey Devils have had their verdict handed down to them for their alleged circumvention of the salary cap with their original 17-year, $102 million contract with Ilya Kovalchuk signed back in July.
The penalty dished out by the NHL is the maximum fine of $3 million, the loss of a 2011 3rd-round draft pick, and the loss of a first-round pick in the next four years (at the Devils discretion). It seems like a very harsh penalty for a contract that does not seem all that glaringly different than a precedent that was put in place by teams like the Calgary Flames, Detroit Red Wings, Chicago Blackhawks, Tampa Bay Lightning, Boston Bruins, Vancouver Canucks, and Philadelphia Flyers. It seems at first glance, the Devils are being made out to be scapegoats, while the other teams get off scot-free.
In a statement released by the league, it reveals the penalty:
"As a result of the finding by Arbitrator Richard Bloch on August 9, 2010, that Ilya Kovalchuk’s initial free agent contract with the New Jersey Devils, dated July 19, 2010, constituted a circumvention of the NHL/NHLPA Collective Bargaini ...
Read Full Article at Bleacher Report - NHL
Article written by levinakl
New Jersey Devils Get Severe Penalty Handed Down By The NHL
September 13th, 2010 by levinakl Leave a reply »
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