League Hands Down Kovalchuk-Penalty To Devils

Even though the New Jersey Devils have their Russian sniper for the remainder of his career and the collective bargaining agreement has been amended to prevent future contracts like one Ilya Kovalchuk received from ever happening again, that does not mean all is well. The NHL still had the option of punishing the Devils for attempting to circumvent the salary cap in their original offer to the 27-year old that included $102 million in compensation over 17 years.

On Monday evening, the league handed down its ruling that includes a mixture of fines and loss of draft picks to New Jersey. Per the NHL's statement, the Devils will lose a first round selection in one of the next four years, as well as a third rounder in 2011. The Devils have the choice of which year between 2011 and 2014 they wish to cede their first round pick and must advise the NHL the day following the completion of the Stanley Cup Finals of that year. These picks are simply eliminated from their respective year's draft.

Additionally, the Devils will pay a $3 million fine. However, that is strictly money and the team will not suffer any kind of salary cap hit. According to Tom Gulitti, the money will go to the NHL Foundation.

In all, that's a pretty hefty price to pay for a move I'm still convinced General Manager Lou Lamoriello did not want to make in the first place, but likely did so at the pushing of ownership. The $3 million is not that big of a deal, but the loss of at least the first round pick hurts a team that always touts its drafting prowess and will need its minor league system more than ever as New Jersey transitions away from guys like Martin Brodeur and Patrick Elias.

The Devils have the option of appealing this ruling, according to TSN's Bob McKenzie. But that appeals process goes through the NHL Board of Governors, so the Devils would likely have very little luck there.