The league handed down its penalties today for the first attempt at signing Ilya Kovalchuk.
The New Jersey Devils were fined $3 million and will lose their 3rd round pick this year and a first round pick in the next 4 years.
An arbitratior ruled that the contract the Devils originally signed with Kovalchuk went around the leagues salary cap.
The Devils had agreed to a 17-year $102 million deal but after the arbitrators ruling they eventually ended up signing a 15-year $100 million deal.
