I know it’s not Sabres related, but the Kovalchuk contract rejection is the only thing going on in hockey right now.
My initial reaction when I saw the structure of the contract was, wow, that’s blatant disregard for the cap. You’re inclined to blame the GM, because he’s the one worried about salary cap hit. The player just wants his money and you would assume he’s not concerned as much about his annual salary as he is about the total value of the contract.
But the key is for that to work, you’re relying on the player to retire when he is no longer playing at a top level. When Ilya Kovalchuk hits 40, I think it’s safe to say the Devils are not going to think he’s worth a $6m cap hit any more, and will be hoping he retires. But I think most players want to play until no one will pay them any more. By tacking 4 “extra” years on to the end of that contract to lower the cap hit, the Devils have basically given Kovalchuk control of his own fate for the rest of his career – they would be stupid to have a clause in his contract telling him when to retire, for obvious reasons, but they would be even stupider to buy him out! If my math based on this description is correct, if they were to buy Kovalchuk out when he turns 40, they would wind up with a $5.5 million dollar cap hit over 8 years (instead of 4) to not have him play on their team.
So why did the NHL draw the line here, when other players such as Danny Briere, Chris Pronger and Henrik Zetterberg all have similar cap-dodging contracts? I think the length and money in the Kovalchuk contract are a slap in the face of the NHL’s cap system unlike any other contract. Zetterberg will make $1 million when he’s 40; Pronger $525,000 when he’s 41 and 42; Briere $2 million when he’s 37. Pronger’s contract is certainly a bad one but look at Kovalchuk: $550,000 when he’s 40. And 41. And 42. And 43. And 44. It’s a whole new level of cheat.
I really do think Kovalchuk is the one who benefits most from this deal. In fact his agent probably came up with the whole thing. Supposedly the second best offer was $80 million/15 years from LA. If you average that out, it’s a $5.33m cap hit. Do you think LA was going to give him $5.33 million dollars a year, and he was very close to accepting it? I bet that contract was structured exactly the same way.
So I fully believe Kovalchuk when he says he intends to play out his 17 year contract. And unless he’s unusually productive at 44, it’s going to hurt the Devils. I say let them do it.
On to the Sabres: Kaleta signs for 2 years at under $1m/per. That’s great news! I’m still hoping the Sabres will move Drew Stafford. The more I think about it, the more I hope it happens. Right now he’s our 2nd line right wing and that’s the only problem I have with this roster. Prove me wrong Drew.