Devils fined $3 million, 2 draft picks

  1. You have chosen to ignore posts from islamorada. Show islamorada's posts

    Re: Devils fined $3 million, 2 draft picks

    In Response to Re: Devils fined $3 million, 2 draft picks:
    [QUOTE]In Response to Re: Devils fined $3 million, 2 draft picks : The NHL has already ruled that those contracts are OK. They're not going to go back on that ruling - that would be insane. The fine was for a contract that was deemed illegal.
    Posted by duinne[/QUOTE]

    Ok means..... grandfathered! Now the NHL could conceivably fine those other "circumvented" contracts. The Devil's fine and draft picks ruling is on the Kovy original contract. 

    As part of the agreement, the NHL approved the New Jersey Devils' revised 15-year, $100 million contract with Kovalchuk. It also dropped investigations into whether long-term contracts signed by Chicago's Marian Hossa, Boston's Marc Savard, Vancouver'sRoberto Luongo and Philadelphia's Chris Pronger were designed to circumvent the salary cap.

    The rules changes would have made the cap hit on Kovalchuk's rejected contract $7.88 million instead of $6 million. Or on Pronger's contract, the cap hit would have been $6.7 million instead of $4.9 million and the cap hit on the final two years of his contract would have been $525,000. But Pronger's deal and those of Savard, Hossa, Luongo, plus Kovalchuk's new contract, are grandfathered in.

     
  2. You have chosen to ignore posts from RMiller87. Show RMiller87's posts

    Re: Devils fined $3 million, 2 draft picks

    Personally, I was hoping that the punishment would have been more severe than this, but good for the NHL brass in having the fortitude in punishing the Devils for their attempts to circumvent the salary cap in this matter ...

    Wonder what the League's investigation of Marc Savard's contract turned up this past summer...


     
     
  3. You have chosen to ignore posts from logeseats. Show logeseats's posts

    Re: Devils fined $3 million, 2 draft picks

    What a mess NJ created for themselves. Good Luck resigning Parise in 2 years.
     
  4. You have chosen to ignore posts from RMiller87. Show RMiller87's posts

    Re: Devils fined $3 million, 2 draft picks

    I will wait to see the details of the Savard investigation released by the League's officials...

    Not by a bunch of biased homers on a blog who deem that the investigation was "dropped." 
     
  5. You have chosen to ignore posts from RMiller87. Show RMiller87's posts

    Re: Devils fined $3 million, 2 draft picks

    This is the only reason that I can see why the NHL would have dropped the investigation into Savard's contract :


    SEVEN MORE YEARS !
     
  6. You have chosen to ignore posts from captainbergeron. Show captainbergeron's posts

    Re: Devils fined $3 million, 2 draft picks

       My question is were do those fined draft picks go? Will they shorten the draft rounds by 1 team or reassign the draft pick? I know this has been done before, but I don't recall how it works.
     
  7. You have chosen to ignore posts from rolerhoky19. Show rolerhoky19's posts

    Re: Devils fined $3 million, 2 draft picks

    I heard that the NHL and the NHLPA have agreed that they would not allow contracts greater in length of 15 years as part of the approval of the kovalchuk deal, and will address this further at the new CBA.. Another note though, $3m is not the maximum fine, $5m as outlined is..
     
  8. You have chosen to ignore posts from Bookboy007. Show Bookboy007's posts

    Re: Devils fined $3 million, 2 draft picks

    I just don't see varying the actual salary dollars as that big of a deal as long as the guy plays for you for the duration of his contract.  One year you pay Savard $7M but his cap hit is $4M.  Another year you pay him $1M but his cap hit is $4M.  Assuming the guy is worth the actual dollars ("market value") rather than the cap hit in both instances, you lose $3M of talent when he's old and grey and gain $3M of talent when he's still young enough to contribute significantly. The NHL just needs to make sure teams pay that outstanding cap hit - so if you buy a guy out, you have to add the previous cap savings to the buy-out number.  Other than "planned retirement" circumventions - that pretty much makes these deals no different than any other deal.

    I don't think Jersey will actually suffer this punishment unmodified.  Look for Lou to appeal, the NHL investigate or have a hearing on Jersey's rationale for why they feel they didn't do anything to merit punishment, the NHL to soften its retribution, and the Devils to lose the 3rd and />$3M.

     
  9. You have chosen to ignore posts from StanleyCuptotheBruinsin2011. Show StanleyCuptotheBruinsin2011's posts

    Re: Devils fined $3 million, 2 draft picks

    Dude ....there is no way that the Devils will win the Cup in the next 3 years cause

    Stanley cup to the Bruins in 2011-2012-2013

     
  10. You have chosen to ignore posts from rolerhoky19. Show rolerhoky19's posts

    Re: Devils fined $3 million, 2 draft picks

    In Response to Re: Devils fined $3 million, 2 draft picks:
    [QUOTE]In Response to Re: Devils fined $3 million, 2 draft picks : Also consider that not only are the Devils $3 million over the cap, they have only 21 players under contract. Lou Lam's got some work to do.
    Posted by duinne[/QUOTE]

    Duinne,
    in all honesty that puts the devils in the nearly exact same spot as the bruins when you consider things, the bruins typically carry 21 guys on the nhl roster, we are currently 3m over the cap carrying 22 guys, and using the LTIR exemption to remain cap compliant, its not really that big of a difference...
     
  11. You have chosen to ignore posts from islamorada. Show islamorada's posts

    Re: Devils fined $3 million, 2 draft picks

    In Response to Re: Devils fined $3 million, 2 draft picks:Look for Lou to appeal, the NHL investigate or have a hearing on Jersey's rationale for why they feel they didn't do anything to merit punishment, the NHL to soften its retribution, and the Devils to lose the 3rd and />$3M.
    Posted by Bookboy007[/QUOTE

    Me thinks Lou will seek litigation, and I believe he will win the right to keep the draft picks.  The picks were the stupid part of the NHL ruling.  Then the option is to fine the other teams with grandfathered players.  IMO those teams would pay without question.  Purely speculation!
     
  12. You have chosen to ignore posts from rolerhoky19. Show rolerhoky19's posts

    Re: Devils fined $3 million, 2 draft picks

    Isla,
    I don't know if i believe Lou can appeal, the NHL and NHLPA actually ammended the CBA to allow/reach an agreement on this deal..  I would think this was done on behalf of the devils and kovi..

    The CBA calls for the fine to count against the cap as well, which the current fine is not, as well as the penalty of draft picks.. I would assume the "15" year limit is due to not rejecting previous deals of such length..

    If I was in his shoes I would worry pressing litigation could lead to a ruling the the addendum to the CBA was not with in the leagues rights at this time and it would need to be enforced as is.. maybe he gets a lower fine, but if it counts against the cap.. ouch.
     
  13. You have chosen to ignore posts from islamorada. Show islamorada's posts

    Re: Devils fined $3 million, 2 draft picks

    In Response to Re: Devils fined $3 million, 2 draft picks:
    [QUOTE]Isla, I don't know if i believe Lou can appeal, the NHL and NHLPA actually ammended the CBA to allow/reach an agreement on this deal..  I would think this was done on behalf of the devils and kovi.. The CBA calls for the fine to count against the cap as well, which the current fine is not, as well as the penalty of draft picks.. I would assume the "15" year limit is due to not rejecting previous deals of such length.. If I was in his shoes I would worry pressing litigation could lead to a ruling the the addendum to the CBA was not with in the leagues rights at this time and it would need to be enforced as is.. maybe he gets a lower fine, but if it counts against the cap.. ouch.
    Posted by rolerhoky19[/QUOTE]

    Thanks Roler! You are correct on the CBA fines going against the cap, just checked.  The Commissioner I suppose could change the decision on the draft picks with an informal appeal by sweet Lou, I suppose (litigation is always possible, but you are correct this would be a challenge to the whole CBA contract structure between the NHL and the NHLPA).  That won't happen now.   You are correct the consequence could be worse for the Devils especially if the fine goes against the cap.  My worry is the other "grandfathered" circumvented contracts could be reviewed as well since they are deemed circumvented.  It seems a bit unjust to lose draft picks when other teams receive no like penalties for those "grandfathered" contracts.  Ultimately the only reason I am interested is the Bs and the Savard contract.  Like those draft picks, things are looking better this year.  

     
  14. You have chosen to ignore posts from rolerhoky19. Show rolerhoky19's posts

    Re: Devils fined $3 million, 2 draft picks

    I think the other contracts are fine, the thing to keep in mind is the fines/draft picks, are in response to the 17 year deal that was rejected, the agreement with the nhl and the pa, allowed the new15 year contract, and "grandfathered" the other deals in place.. So in theory there should be nothing penalized, the devils are not being penalized on the 15 year 100m dollar contract.  The NHL had set a precedence in allowing 15 year deals, the devils pushed taht even futher, eventually someone had to pay..  
     
  15. You have chosen to ignore posts from islamorada. Show islamorada's posts

    Re: Devils fined $3 million, 2 draft picks

    In Response to Re: Devils fined $3 million, 2 draft picks:
    [QUOTE]I think the other contracts are fine, the thing to keep in mind is the fines/draft picks, are in response to the 17 year deal that was rejected, the agreement with the nhl and the pa, allowed the new15 year contract, and "grandfathered" the other deals in place.. So in theory there should be nothing penalized, the devils are not being penalized on the 15 year 100m dollar contract.  The NHL had set a precedence in allowing 15 year deals, the devils pushed taht even futher, eventually someone had to pay..  
    Posted by rolerhoky19[/QUOTE]

    Excellent point, I knew of the 15 year (DiPietro contract) ceiling.  Your logic is right on target, sure hope you are correct.  The only thing is both the original Kovy deal and the subsequent penalties were a bit of a shock.  The next CBA negotiations are going to be interesting.  I will definitely stay tuned as I did NOT the lock out from watching hockey before.  

     
  16. You have chosen to ignore posts from Kurako. Show Kurako's posts

    Re: Devils fined $3 million, 2 draft picks

    In Response to Re: Devils fined $3 million, 2 draft picks:
    [QUOTE]What a mess NJ created for themselves. Good Luck resigning Parise in 2 years.
    Posted by logeseats[/QUOTE]

    I'm pretty sure Parise is RFA at the end of this season. He'd be great on the Bruins but we probably can't afford him either.

    And welcome back Stanley. I've not seen you on here in ages.


     

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