Ilya Kovalchuk Deal Close: A New Contract Is Pending

After turning down over $100 million to remain with the Atlanta Thrashers and having his 17-year, $102 million contract with the New Jersey Devils rejected by the NHL, it appears as if Ilya Kovalchuk is about to sign with the Devils.

ESPN is reporting that the NHL has approved the latest contract proposal from the Devils, which should be signed very soon.

Kovalchuk’s newest contract should set the bar for future long-term and big money contracts and allow other NHL general managers to use the contract as a template for future contracts.

While there is no news on the term or money involved, one can assume that the contract will likely be less than the $100 million Kovalchuk so badly seeks.

*Update: NHL Deputy Commissioner Bill Daly has confirmed that he received a new contract from the New Jersey Devils, believed to be in the neighborhood of 15-years, $100 million, making Ilya Kovalchuk a very rich man if the contract is accepted.

The New Jersey Devils have been working diligently to work out a new deal with Kovalchuk in an effort to re-coup their investment from the trade with the Atlanta Thrashers which saw the Devils part ways with the likes of Nik Bergfors, Johnny Oduya and other parts.

Rumors circulated earlier this week that the Dallas Stars and KHL were prepared to make Kovalchuk very generous offers, which put Kovalchuk's return to New Jersey in jeopardy—if only for the moment.

When or if the contract is finally signed, it will allow other NHL GM's to finally address their offseason needs and to pursue trades—many of which are felt to have been on hold as a result of the Kovalchuk saga.

Until next time,

Peace!