NHL salary cap
The NHLPA filed a grievance against the NHL for rejecting Ilya Kovalchuk and the New Jersey Devils' mammoth 17 year contract. After an arbitration hearing for both sides, today the ruling was in favor of the NHL, thus making Ilya Kovalchuk a free agent.
Excerpt from Michael Stephens Added
If leaked reports are to be believed the NHLPA is preparing to file a grievance pertaining to the NHLâ€™s rejection of the unprecedented 17 year, $102 million contract filed last week by the New Jersey Devils for Russian forward Ilya Kovalchuk. The report suggests that even if the Devils and Kovalchuk can agree on a restructured deal, the NHLPA may still decide to file a grievance in a preventative effort for future contracts.
The latter part is particularly significant for those who have been viewing the leagues rejection of the initial contract as an act of political posturing in the face of the PAâ€™s on-going power struggle and an attempt at drawing a line in the sand.
In case you haven't already heard, the Maple Leafs have broken off negotiations with prospect Bill Sweatt, acquired in the Versteeg trade from the Blackhawks. In a statement to the Toronto Sun, Burke explained that the club would rather keep a spot on the 50 contract limit open than continue discussions with Sweatt. As the talks continued to stall, the Leafs likely turned and upped their offer to Marcel Mueller, whose ELC contract value sits at $1.12 million. Sweatt is likely looking for a figure close to Blake Wheeler's $2.825 cap hit as a 4-year college free agent, which is a steep price to pay for a player with speed but limited offensive upside. [more…]
There has been a certain degree of consternation among Maple Leafs fans of late regarding the number of SPCs (Standard Player Contracts) the team has on the books. Many have expressed concerns that the Maple Leafs are near the league maximum, and fear the situation could adversely affect the team's efforts to continue to re-tool the club into a playoff contender.
A quick glance at the Collective Bargaining Agreement (CBA), however, tells us the situation is not so dire as some would have us believe. The reason? A seldom-discussed clause, unofficially dubbed the "Slide Rule".
Even with news breaking this afternoon of Ilya Kovalchuk's new $60 million contract extension (potentially) with the New Jersey Devils, this 2010 free agency period has been one of the most uneventful and slow-developing offseasons in recent memory. The reason being? Despite a mediocre at best free agent group, there simply isn't enough money to pay these guys what they're probably worth. As one unnamed NHL General Manager put it last week: "The teams with cap don't have cash and the teams with cash don't have cap". The Maple Leafs however, are fortunate enough to have both, and have the opportunity to exploit the market to their advantage. [more…]
Years ago, we were all stunned when Islander GM Garth Snow handed goaltender Rick DiPietro an astounding 15 year contract back in 2005. Fast forward to present day, and this recent fad of handing out double digit term into a player's forties is very quickly starting to get out of hand. Detroit GM Ken Holland gives out 12 and 11 year contracts to Zetterberg and Franzen respectively, Chicago joins the party with a 12 year contract for Hossa (which is now being investigated by the league), and Philly decides it would like to ink Pronger through age 42. Last but not least, news broke earlier today of a shiny new 12 year extension for 30 year old goaltender Roberto Luongo. Well enough is enough. [more…]
This proposed offer to purchase the struggling Phoenix Coyotes by Jim Balsillie may be a better possibility this time around. It may seem impossible to fathom another NHL club so close to its flagship franchise, the Leafs and the Buffalo Sabres, but it's not jurisdiction that's at the heart of the issue here.
It's the salary cap, revenue and a return to the dead puck era.
Following some of the discussion surrounding the Matt Gilroy signing in NY, and specifically the one-way versus two-way contract debate, I thought I'd provide for you guys a look at how the NHL waiver process is constructed under terms of the current NHL Collective Bargaining Agreement.