Devils Hit With $3M Fine, Loss of Draft Picks Over Ilya Kovalchuk Deal

by A.J. Perez

Filed under: Devils, NHL Economics, NHL Discipline, Sports Business and Media

The NHL has fined the New Jersey Devils $3 million and will take away their third-round pick in the next entry draft along with one first-round pick in the next four years as punishment for the club's attempt to circumvent the salary cap to sign Ilya Kovalchuk, the league announced Monday night.

Understandably, the unprecedented sanctions were not welcomed in Newark.

"We disagree with the decision," Devils general manager Lou Lamoriello said in a statement. "We acted in good faith and did nothing wrong. We will have no further comment."

The league moved to institute the sanctions after arbitrator Richard Bloch invalidated the Devils' original deal with Kovalchuk, which would have paid the Russian star $102 million over 17 years. Earlier this month, the Devils signed Kovalchuk to a reworked deal that will pay him $100 million over 15 years.

"The league now considers the matter closed and will have no further comment on the situation, including with respect to the discipline that was imposed today," the NHL said in the statement that announced the decision.

 

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