NHL approves new Kovalchuk contract

Hockey Betting Lines

09/03/2010 - Toronto, ON (Sportsbook Betting Lines) - Ilya Kovalchuk will finally join the New Jersey Devils after his re-submitted contract was reportedly approved by the National Hockey League.

Additionally, according to TSN of Canada, the league and the NHL Players' Association reached an agreement on an amendment to the rules that govern long-term contracts. A report from The Record in New Jersey states that new guidelines will be implemented regarding how the salary cap hit would be calculated for long-term deals that go beyond the ages of 35 and 40.

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. His second deal is worth a reported $100 million over 15 years, which provides an annual cap hit of $6.66 million.

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.

Because of the league rules on player contracts after the age of 35, it was conceivable that someone could retire before the deal 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.

With the new guidelines in place regarding long-term deals and the CBA negotiations that will occur in the next few years, it is likely that Kovalchuk's contract is the last of its kind. Additionally, according to the report in The Record, similar contracts that have been signed previously will not be affected by the new rules.

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, the Russian star has accumulated 338 goals and 642 points with Atlanta and New Jersey.

Mysportstracker Hockey Betting News

<< Boston's Pedroia has surgery
Boston, MA (Sportsbook Betting Lines) - Boston Red Sox second baseman Dustin Pedroia has undergone successful surgery on the navicular bone of his left foot. Pedroia had a screw inserted on Friday to promote healing of the fracture, which occu

<< Steelers start cuts, drop 10 players
Pittsburgh, PA (Sportsbook Betting Lines) - The Steelers released 10 players on Friday, getting an early start on personnel moves in advance of the NFL's 6 p.m. (et) Saturday deadline to reduce rosters to 53 players. The players released were tight

<< White Sox activate Thornton from DL
Boston, MA (Sportsbook Betting Lines) - The Chicago White Sox have activated reliever Matt Thornton from the 15-day disabled list. Thornton had been on the DL since August 18 with left elbow inflammation. He is 3-4 with a 2.66 earned run average

<< Marlins recall Leroux, Cousins
Miami, FL (Sportsbook Betting Lines) - The Florida Marlins announced Friday the recall of pitcher Chris Leroux and outfielder Scott Cousins from Triple-A New Orleans. Leroux has spent parts of 2010 and 2009 with the Marlins, pitching in 19 t

<< Houston tries to build momentum against San Jose
Houston, TX (Sportsbook Betting Lines) - The playoff hopes of the Houston Dynamo continue to slip away as the club gets set to host the San Jose Earthquakes on Sunday at Robertson Stadium. Houston snapped a 10-game winless skid with a 4-3 wi

Dillon takes pole for Kentucky truck race >>
Sparta, KY (Sportsbook Betting Lines) - Rookie Austin Dillon will start on the pole for Friday's Built Ford Tough 225 Camping World Truck Series race after edging Johnny Sauter by the slimmest of margins in qualifying at Kentucky Speedway. Dillon

Cook returns from DL to start for Rockies >>
San Diego, CA (Sportsbook Betting Lines) - The Colorado Rockies have activated pitcher Aaron Cook from the 15-day disabled list in time to start Friday's series opener at San Diego. Cook missed 27 games while sidelined with a sprained right big

Padres recall Russell >>
San Diego, CA (Sportsbook Betting Lines) - The San Diego Padres have recalled right- hander Adam Russell from Triple-A Portland. It will be Russell's fourth stint with the Padres this season. In six games earlier this year, the 27-year-old ga

Cardinals release 16 players >>
Tempe, AZ (Sportsbook Betting Lines) - The Arizona Cardinals pared down their roster on Friday, releasing 16 players ahead of Saturday's deadline to reduce the active roster to 53 players. The club announced the release of the following players: l

Broncos' LenDale White out for season >>
Englewood, CO (Sportsbook Betting Lines) - Denver Broncos running back LenDale White was placed on injured reserve Friday and will miss the 2010 season with a torn Achilles tendon. White was hurt during the second quarter of Thursday's 31-24 prese

MySportsbook features easy-to-use online betting software that’s the most reliable in the industry. If you’re looking to bet underdogs, then this Sportsbook is the place - we have the best betting lines in the business. MySportsbook is your one-stop shop for all your betting needs - sports betting, poker, casino, and horse racing . MySportsbook offers every bet type with lightning fast settlement of wagers. Take advantage of free statistical analysis - including against-the-spread and straight-up trends - in MySportsbook’s game previews section. With MySportsbook there are unlimited free deposits and payouts - and no transaction fees!

To visit this online sportsbook got to MySportsbook.com - this sportsbook accepts credit cards.