Second time’s a charm.
Kovalchuk, the Devils, and the League have agreed upon a 15-year $100 million contract that comes in just below the 17-year, $102 million contract that was voided by the league. Part of the contract agreement from the league includes an amendment to the CBA regarding long-term contracts.
The NHL and NHLPA announced in a press release that “under the terms of the agreement, the new rules will apply only to long-term contracts, defined as those with terms of five years or longer, and only to contracts executed after Sept. 4, 2010. The new rules apply to contracts signed between now and the end of the CBA, as well as all contracts signed that begin in the 2012-13 season. The parties have agreed that the new rules do not automatically carry over into a new CBA.”
From now on, the salary cap hit for any contract that is five years or more in length and takes a player to his 41st birthday or beyond will be determined by the average of the yearly salaries only until the year in which the player turns 40.
Part of amendment also means the league will stop looking into deals signed by Chris Pronger, Roberto Luongo, Marc Savard, and Marian Hossa.
