Kovalchuk Announces His Retirement

[maplesyrup]

Ouch... Well, at least they have some a bunch more cap space to play with now.  :-\

 

[BlueWhiteBlood]

It's actually not that bad. $250K a year until the 2024/2025 season - mainly because he barely played under the contract.

Conspiracy theory mode: Does the Devils' financial disarray play any factor into this? 

That was my first thought.

 

[Deebo]

Hello recapture penalty.

But whaaaat?

It's actually not that bad. $250K a year until the 2024/2025 season - mainly because he barely played under the contract.

And because the first 2 years of the contract were paid out at 6M, lower than the cap hit. Last season was the only season where the salary exceeded the cap hit.

 

[Champ Kind]

What happens to the 2014 first round pick?  Are there going to be simply 29 selections in the first round?

 

[Jalili]

Nice of him to wait til after the UFA period ended.

 

[maplesyrup]

Nice of him to wait til after the UFA period ended.

True that. 

 

[bustaheims]

What happens to the 2014 first round pick?  Are there going to be simply 29 selections in the first round?

Basically, yes. Whatever the Devils' pick ends up being will be declared void.

 

[bustaheims]

Nice of him to wait til after the UFA period ended.

There are still a few pretty good UFAs out there.

 

[Zee]

If they really want a first round pick Leafs shoudl trade their 2014 first rounder to Devils for the Devils 2015 first rounder.

 

[Champ Kind]

What happens to the 2014 first round pick?  Are there going to be simply 29 selections in the first round?

Basically, yes. Whatever the Devils' pick ends up being will be declared void.

So, following this, if the Devil's finish last this year (which is looking like a definite possibility), and, say, the Leafs finish 29'th, then the Leafs would in effect hold the first overall pick?

 

[Jolly good show chaps]

Two questions

1) what happens with the pick they lose? Is the first round just 29 picks next year?

2) can he play in the KHL? The ESPN article I've read says he is retiring from the NHL. The wording makes me suspicious

 

[Zee]

What happens to the 2014 first round pick?  Are there going to be simply 29 selections in the first round?

Basically, yes. Whatever the Devils' pick ends up being will be declared void.

So, following this, if the Devil's finish last this year (which is looking like a definite possibility), and, say, the Leafs finish 29'th, then the Leafs would in effect hold the first overall pick?

Now why would you put the Leafs 29th?

 

[CarltonTheBear]

Down Goes Brown ‏@DownGoesBrown 1m
(Sees headline "Ex-Devil winger walks away from huge multimillion dollar contract".) (Clicks link while muttering "Please be Clarkson...")

I chuckled.

 

[Jalili]

Nice of him to wait til after the UFA period ended.

There are still a few pretty good UFAs out there.

Yea, it's looking like there's mostly a bunch of depth players left though, besides maybe Grabovski.

 

[bustaheims]

So, following this, if the Devil's finish last this year (which is looking like a definite possibility), and, say, the Leafs finish 29'th, then the Leafs would in effect hold the first overall pick?

Depending on how the draft lottery plays out, yes.

 

[CarltonTheBear]

Nice of him to wait til after the UFA period ended.

There are still a few pretty good UFAs out there.

Yea, it's looking like there's mostly a bunch of depth players left though, besides maybe Grabovski.

I would have pretty much said that at noon on July 1st anyway.

 

[GhostofPotvin29]

Hello recapture penalty.

But whaaaat?

It's actually not that bad. $250K a year until the 2024/2025 season - mainly because he barely played under the contract.

As Mirtle notes, would have been 700K if he retired after next season.

 

[Deebo]

So..

2010 1st round pick
2010 2nd round pick
Johnny Oduya
Nicklas Bergfors
Patrice Cormier
2014 1st Round pick (penalty for signing Kovalchuk to an illegal contract)

You might even consider Parise walking a result of having Kovalchuk..

 

[Jalili]

It's such a strange decision that there has to be something out of sight that's going on.

But watch Kovalchuk turn around and join the KHL. He'll get almost the same cash to play for a 2nd rate league.

 

[Deebo]

It's such a strange decision that there has to be something out of sight that's going on.

But watch Kovalchuk turn around and join the KHL. He'll get almost the same cash to play for a 2nd rate league.

I think that is his plan:

"This decision was something I have thought about for a long time going back to the lockout and spending the year in Russia," said Kovalchuk in a team statement. "Though I decided to return this past season, Lou was aware of my desire to go back home and have my family there with me. The most difficult thing for me is to leave the New Jersey Devils, a great organization that I have a lot of respect for, and our fans that have been great to me."

He played in the KHL during the lockout.