Devils, NHL in race against time to resolve Kovalchuk dispute

After all the conflicting reports surrounding a possible second rejection of a contract, we know one thin; The KHL is making a last ditch aggressive push to lure him back to Russia. Gary Bettman, today denied the claims that he rejected a second contract saying that no contract has actually been submitted for approval. In order for a contract to be approved, it has to be signed by the player and then submitted. The KHL season begins September 8th, so say what you want, it seems very likely that if the all the sides involved fail to reach some sort of compromise or come even close to reaching one by mid next week, Kovalchuk is likely to seriously consider bolting for Russia, unless another NHL team other than the Devils slips in with a last second lucrative offer he cannot refuse. The KHL is reportedly offering him the same 17 year deal the Devils signed him to before the NHL rejected it, but he can choose any team he wants to sign with which is likely to be SKA St. Petersburg, a team that will likely be the NY Yankees of the KHL. I will say this, the NHL will eventually have to approve some sort of deal even though it might not like it.

Note: Some Devils fans are claiming that the NHL does not want Kovalchuk to play for the Devils. I can tell you that it is completely and utterly untrue, the NHL is simply trying to ensure the economic and financial stability of the NHL and is currently investigating other long-term front-loaded contracts, which means a player will make most of the total value of the contract over the first 3/4 of the term of the deal. So, Kovalchuk and the Devils are not alone. Yes, the NHL maybe all about Crosby, Malkin, Ovechkin and Kane and Toews, but Kovalchuk is definitely in the same league as them and would definitely help the Devils in all aspects.

Note 2: Marian Hossa of the Blackhawks signed a 12 year pact worth in the neighborhood of $63 million annually, but will make most of his money in the first 7 years of the deal, but the cap hit will remain about $5.3 million dollars even if he is slated to make $750K in one of those years. His contract along with others are currently under investigation and teams could face fines and loss of draft picks and cap space if found guilty. The NHL will likely not penalize the Devils financially, but loss of a draft pick is possible if the league fines the Blackhawks for Hossa, the Flyers for Pronger and Vancouver for Luongo as well as other contracts.