Kovalchuk retires...

[jerseyjigroe]

Soooo...um...Kovalchuk just announced his retirement?!? LOL wtf

 

[lasgop8]

Kovalchuk just retired does that 100 million count against the cap still

 

[awaz]

Soooo...um...Kovalchuk just announced his retirement?!? LOL wtf

ya that's outrageous.. apparently he wants to play in the KHL back in russia.. the devils lost a 1st round pick for their first attempt at signing him too.. ouch for devils fans.. i wonder if the NHL rescinds their punishment?

 

[awaz]

Kovalchuk just retired does that 100 million count against the cap still

nope, not a 35+ contract.. it does look like they take a 250k/year penalty til 2024 or something.. new cap recapture penalty for 'back-diving' contracts.. fuzzy with him going to play in the KHL though, they might be able to suspend him instead, for breaking his contract in that case?

 

[lasgop8]

nope, not a 35+ contract.. it does look like they take a 250k/year penalty til 2024 or something.. new cap recapture penalty for 'back-diving' contracts.. fuzzy with him going to play in the KHL though, they might be able to suspend him instead, for breaking his contract in that case?

Thats crazy leaving over 50 million on the table.

 

[JBM73]

Kovalchuk just retired does that 100 million count against the cap still

From Capgeek:

If Ilya Kovalchuk retires or defects in the 2013 off-season (age 30 as of July 1 that year) and is not traded before doing so, following is an estimated breakdown of the recapture penalties for the involved teams.

New Jersey Devils (2013-14 through 2024-25)
benefit $3,000,000
penalty $250,000
IMPORTANT NOTES [ Edited June 2, 2013 ]: Teams do not receive a credit for net negative cap benefit (where cap hit exceeds salary over the course of the contract prior to retirement). However, in calculating net "cap advantage," teams do receive a credit for seasons in which cap hit exceeds salary ... Calculations for players who have been traded during the season are rough estimates based on best information available and may differ from actual league numbers.


So, it sounds like the Devils will receive cap relief of only $2,750,000 per year for the rest of the contract. It has to do with actual salary paid vs. cap hit.

http://www.capgeek.com/recapture-calculator/

 

[JBM73]

Nevermind, read it wrong. awaz is right, the penalty is $250k per year. The TOTAL benefit was $3mil.

 

[EVille3]

anyone see that coming???

 

[JBM73]

Jagr to the Devils would give us a reason to hate him again.

 

[soulxflare]

Haha ..... damn. Sucks to be a Devs fan right now.

 

[jerseyjigroe]

Devils fans are freaking. Read the comments.

What? - In Lou We Trust

 

[dspice07]

haha i am not familiar with his contract specifics, but was his max front loaded and now he is bailing to probably go make just as much if not more in the KHL? that would be pretty low ha.

edit: upon further evaluation, these next 3 years are his prime money years. so there goes the scummy theory. i mean lets be clear here, this guy is not going to retire from hockey though. wouldnt be surprised to see him return in 4-5 years.

 

[jerseyjigroe]

haha i am not familiar with his contract specifics, but was his max front loaded and now he is bailing to probably go make just as much if not more in the KHL? that would be pretty low ha.

His pay wasn't supposed to significantly drop until 2019.

Ilya Kovalchuk NHL Salary Contract History

He's leaving a lot of cash on the table.

 

[jerseyjigroe]

Soooo...no Kovy, no Parise, no Clarkson, and lost a first round pick. Awesome!

 

[jerseyjigroe]

Ilya Kovalchuk retires from Devils, NHL - Broad Street Hockey

 

[awaz]

haha i am not familiar with his contract specifics, but was his max front loaded and now he is bailing to probably go make just as much if not more in the KHL? that would be pretty low ha.

edit: upon further evaluation, these next 3 years are his prime money years. so there goes the scummy theory. i mean lets be clear here, this guy is not going to retire from hockey though. wouldnt be surprised to see him return in 4-5 years.

there's no way i'd take him on my team if i was an NHL GM at this point.. what a bitch move.. he'll play in the KHL, probably next season, but i would not be surprised if nobody in the NHL contacts him ever again

Soooo...no Kovy, no Parise, no Clarkson, and lost a first round pick. Awesome!

the devils are essentially the new isles of the division for the foreseeable future.. marty is good, and so is schnieder, but marty cant carry the team alone, and who knows if schnieder will resign in a few years if the devils suck (which they likely will).. no 1st this year (would've been #9) due to the trade, and no first next year (likely top 5 at this point), on a team that already looks bleak and needs more investors because the owner is broke.. unless someone with deep ass pockets comes in before free agency next season (tons of big names), the devils are in DEEP trouble.. talent wise, financially, and even staying in jersey-wise

 

[awaz]

moved some posts over from the Mumbles and Grumbles thread.. it pushed EVille's OP down the page, didn't expect that to happen haha.. my b

 

[wbon22]

I almost wonder if Lou knew this was coming and that is why he traded the 1st he had in this years draft mean that next years was the "forfeit". The Devils could now argue that the contract that incurred the penalty is not longer in existence and therefore they should not be penalized.

Personally, it smells...The Contract when originally signed was in violation. Then there is Lou who kept putting off forfeiting the draft pick. Now all the sudden Kovy "retires" and next year is the pick that would have to be forfeited...I can just see Lou sitting in a dark room chuckling

 

[mall3013]

Lol. Fuck the Devils. Kovy really fucked them hard. Now they will overpay to get Vanek. I wish Malkin would go next.

 

[FlyerFinFan]

I thought that the khl was honoring nhl contracts and player rights? If so how can this happen?