Kovalchuk pact approved; NHL-NHLPA adopt rules for long-term deals

Hockey Betting Lines

09/04/2010 - Toronto, ON (Sportsbook Betting Lines) - Ilya Kovalchuk will finally join the New Jersey Devils after his re-submitted contract was officially and finally approved by the National Hockey League just before 3 a.m. (et) Saturday morning.

The re-worked contract now calls for Kovalchuk to collect a reported $100 million over 15 years, with an annual cap hit of close to $6.66 million. The deal is thought to pay out $90 million in the first 10 years and $10 million over the last five.

Kovalchuk's initial 17-year, $102 million deal with the Devils was rejected by the league on the grounds that it circumvented the league's salary cap. The deal was front-loaded so Kovalchuk could have earned as much money as possible while providing the lowest possible cap hit for the team.

The NHL Players' Association filed a grievance on Kovalchuk's behalf, but an arbitrator ruled in favor of the league. The Russian star, now 27, would be approaching age 43 when the contract expires.

The rejection of the contract provided much debate throughout the league in terms of "lifetime" contracts given to players that have helped reduce the yearly salary cap hit. Several players in previous years signed deals that took them past 40 years of age and saw the annual salary dip below $1 million in the final years of the contract.

The NHL and NHLPA together, did away with those scenarios in one fell swoop Friday, jointly adopting new regulations on such pacts while simultaneoulsy ruling on Kovalchuk's situation after a whirlwind of postponements on a ruling that stretched well into the night.

The new rules will apply only to long-term contracts, five years or longer in length, and only those going forward beyond the September 4 ruling date. All previous contracts are grandfathered in, meaning Kovalchuk's contract will likely be the last of its kind.

To that end, the two entities also announced that the league will terminate its circumvention investigations into the contracts signed in 2009 by Marian Hossa of the Chicago Blackhawks, Roberto Luongo of the Vancouver Canucks, Marc Savard of the Boston Bruins and Chris Pronger of the Philadelphia Flyers.

"We are pleased to finalize an agreement which ends the league's circumvention investigations and also establishes rules on long-term contracts that will provide players, their certified agents and general managers clarity for the negotiation of new contracts," said Roland Lee, associate counsel for the NHLPA and director of Salary Cap/Marketplace. "Turning the page on this process is something that will benefit all parties involved."

Taking into account the NHL's salary cap system and forthcoming CBA negotiations, a special calculation of value will be made in two ways for contracts that extend beyond a player's 41st birthday, and any long-term contract that averages more than $5.75 million for the three highest- compensation years will have rules put into place that limit that player's compensation to a minimum of $1 million between the ages of 36 and 40.

Because of the league's previous rules on player contracts after the age of 35, it was conceivable that someone could retire before a contract had expired, wiping the contract off the salary cap. This rule allowed teams to sign players to front-loaded contracts to benefit both the team and player.

"We're pleased to be able to establish clearly-defined rules for these types of contracts going forward and just as happy we can turn the page on uncertainties relating to several other existing contracts," NHL Deputy Commissioner Bill Daly said. "From start to finish of this multi-week process we were able to work closely and cooperatively with representatives of the Players' Association, who shared our belief that the creation of definitive rules and guidelines in this area would be beneficial to everyone -- clubs and players alike."

Kovalchuk's deal will reportedly take the team about $3 million over the salary cap with 21 players under contract, and the Devils will have to get under the $59.4 million cap before the beginning of the season while adding two more players to the roster.

Kovalchuk posted 41 goals and 85 points in 76 games last season, 10 goals and 27 points coming in 27 games with New Jersey. In a five-game first-round playoff loss, the 27-year-old added two goals and six points.

In 621 games since entering the league in 2001, he has accumulated 338 goals and 642 points with Atlanta and New Jersey.

Wwwthirdage Hockey Betting News

<< Dodge faces win-or-else season at North Texas
DENTON, Texas (AP) -Todd Dodge is no longer the hot shot high school coach hired to energize the North Texas football program.After 31 losses in three years, he's just trying to hang on to his job and avoid becoming another case study in why it's so

<< Rockies extend San Diego's losing streak to eight
San Diego, CA (Sportsbook Betting Lines) - Jason Giambi and Troy Tulowitzki each hit a two-run homer, as the Colorado Rockies dealt San Diego an eighth consecutive defeat, 4-3, in the opener of a three-game series. Aaron Cook (5-8), who was acti

<< A's blank struggling Angels behind Gonzalez
Oakland, CA (Sportsbook Betting Lines) - Cliff Pennington and Kevin Kouzmanoff each homered during a six-run seventh, as the Oakland Athletics dominated the Angels, 8-0, in the opener of a three-game series. Gio Gonzalez (13-8) tossed si

<< Giants trade for Sage Rosenfels
East Rutherford, NJ (Sportsbook Betting Lines) - The New York Giants have found a backup quarterback after acquiring Sage Rosenfels from the Minnesota Vikings on Friday. The trade also saw running back and return specialist Darius Reynaud h

<< D-Backs edge Astros
Phoenix, AZ (Sportsbook Betting Lines) - Augie Ojeda's sacrifice fly in the bottom of the eighth delivered the winning run as Arizona downed Houston, 4-3, to start a three-game set. Adam LaRoche went 2-for-4 with two runs batted in and Gerardo Pa

Tuberville's Texas Tech to debut vs. improving SMU >>
LUBBOCK, Texas (AP) -June Jones knows the order is a tall one for his improving SMU squad.The Mustangs will open the season Sunday in Lubbock as the first opponent for new Texas Tech coach Tommy Tuberville, who vowed when he took over in January not

Sisk keeps lead at Mylan Classic >>
Canonsburg, PA (Sportsbook Betting Lines) - Geoffrey Sisk remained atop the leaderboard Saturday when the second round of the rain-delayed Mylan Classic was completed. Sisk played the final three holes of his round and finished off a four

Georgia holds A.J. Green out of opener >>
ATHENS, Ga. (AP) -Georgia star receiver A.J. Green is being held out of the Bulldogs' opening game against Louisiana-Lafayette.Georgia spokesman Claude Felton says Green will miss Saturday's game for the No. 23 Bulldogs pending a ruling from the NCA

Scorching Yanks seek eight straight win in test with Jays >>
(Sportsbook Betting Lines) -- The New York Yankees have solved just about all their problems during a seven-game winning streak that matches the team's longest of the season. The defending world champions will now turn their attention towards getting Jav

Red Sox, White Sox to begin set with double dip >>
(Sportsbook Betting Lines) -- After mother nature delayed the opening of this important weekend set, the Boston Red Sox and Chicago White Sox will renew acquaintances with a day-night doubleheader that begins this afternoon from Fenway Park. The arriv

Pro Football Odds : NFC SOUTH BETTING ODDS

NFL Sports Betting

NFL betting action is back! At MySportsbook, all of the pro football odds are posted for the NFC North. Check out how we see the four teams in this cloudy division stacking up this year in the chase for the playoffs! Green Bay Packers (+125) - With QB Aaron Rodgers leading the offense and DC Dom Capers working his magic on defense, the Packers are a real force to be reckoned with.

Virtually nothing changed on this offense for Green Bay from last year to this year, save for the addition of rookie OT Brian Bulaga to the bunch. Expect more huge numbers from the Pack, and a relatively favorable schedule should get them over the hump and into the playoffs once again this season. My NFL Betting Predictions: 11-5, 1st place in NFC North Minnesota Vikings (+130) - There are still too many unknowns about the Vikes this year. There is a huge difference between QB Brett Favre and either Tarvaris Jackson or Sage Rosenfels under center. Plus, is Favre comes back, is he really going to be able to keep his pick total under double digits again? Depth at running back looked like it might have been an issue with RB Chester Taylor fleeing in free agency, but drafting RB Toby Gerhart should pick up the difference. This defense is still suitable, but with a first place schedule, making the playoffs is going to be very tough regardless of whether #4 comes back or not.

There is a huge difference between QB Brett Favre and either Tarvaris Jackson or Sage Rosenfels under center. Plus, is Favre comes back, is he really going to be able to keep his pick total under double digits again? Depth at running back looked like it might have been an issue with RB Chester Taylor fleeing in free agency, but drafting RB Toby Gerhart should pick up the difference. This defense is still suitable, but with a first place schedule, making the playoffs is going to be very tough regardless of whether #4 comes back or not. Play this weekly NFL Football Contestto see if you can win.

Chicago Bears (+350) - The Bears are probably a bit of an overhyped team once again this year.No, we don't think it is plausible for QB Jay Cutler to have as bad of a season as he did last year, and we do think the additions of RB Chester Taylor and DE Julius Peppers are going to help immensely, but there's still something in the water in the Windy City that we aren't so sure about. Maybe Chicago finds its way to .500... but then again, maybe it doesn't. If Favre comes back, Cutler might be the worst quarterback in this division this year.

Detroit Lions (+1500) - The Lions are probably once again going to be the whipping boys for the rest of the teams in the NFC North, but they aren't just going to roll over and die once again. There is some real talent amassing on this team offensively, as the combination of QB Matt Stafford, RB Jahvid Best, WR Calvin Johnson, and TE Brandon Pettigrew should put a bunch of points on the board if the offensive line can even remotely hold up. The questions really lie on defense, where it feels like DT Ndamukong Suh is going to be trying to stop opposing teams all by himself. This year should show some marked improvement in the Motor City.

The Patriots will make NFL betting fans a lot of money this season, get in early and enjoy the cash.

NFL Betting

To visit this sportsbook go to MySportsbook.com for all your NFL football betting needs.