*Warning:Â More analysis and opinionÂ concerning the Kovalchuk decision. For those who want to talk hockey, as opposed to the now perpetual indiscretions of the league office etc. Alex has a post beneath.
When Richard Bloch decided to rule in the favour of the NHL in the case of Ilya Kovalchuk and the ridiculous contract, he set in place a new precedent that the league hope will stem the flow of cap-circumventing front loaded contracts. In lieu of a concrete definition, the cover-all bases nature of Blochâ€™s ruling was expected to draw a line under the types of long, frontloaded contracts the NHL saw as detrimental to the spirit of equality the CBA and its salary cap was supposed to theoretically harbour.
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…]