Ilya Kovalchuk To Sign New Contract with New Jersey Devils This Week?

The Twitter world began working overtime a bit this morning, as reports are being circulated by Pavel Lysenkov and further cemented by Dmitry Chesnokov. Could this matter finally becoming to a close?

Well, if we have learned anything from this saga, it is to not assume it is complete. After all, will they be signing a new contract that will be approved by the NHL?

Terms of the potential contract have not been announced of yet, which obviously is no surprise when it comes to a franchise like the New Jersey Devils that keeps everything so close to its vest and doesn't air its dirty laundry in the public.

For example, Tom Guitti's Fire & Ice blog quotes Devils GM Lou Lamoriello as saying, “I said I’m not going to comment until everything has come to a conclusion,” in response to a question of whether or not the Devils are continuing negotiations with Kovalchuk. From a guy like Lamoriello, that is more information than he normally gives out.

Once the contract is finally signed by the Devils and Kovalchuk and registered by the league, it would then create the next hurdle for the Devils: making the deal fit under the salary cap.

Let's for argument's sake say the contract will be for a $7 million cap hit. That would leave the Devils about $4,041,666 over the salary cap of $59.4 million, according to Capgeek.com. It also would leave the Devils with just 21 players on their roster, meaning Lamoriello would still leave the Devils with a lot of work to do.

First things first, though: Is today the day the Devils will finally sign Ilya Kovalchuk to an approved NHL contract? Stay tuned.

Want to discuss the Kovalchuk saga, the Devils, or hockey in general? Look me up and follow me on TWITTER @ LEVINAKL.