The National Hockey League off-season has finally resumed. Blues general manager Doug Armstrong and other league executives can get back to work in earnest.
Goal-scoring winger Ilya Kovalchuk ended weeks of flirting by finally signing his freakish 17-year, $102 million contract with the New Jersey Devils.
That ridiculous contract structure allows Kovalchuk to maximum money in his prime. The additional low-salary years were tacked on to bring down the annual salary cap hit for the team.
According to the New York Post, the deal opens with two seasons at $6 million each, followed by five at $11.5 million each. It drops to $10.5 million in the eighth, $8.5 million in the ninth and $6.5 million in the 10th year. It will fall to $3.5 million in Year 11, then plummet to $750,000 in Year 12 and $550,000 for the final five.
That is what the lawyers call a “loophole.” The Devils exploited it to the max to fit another big salary into their team structure. The NHL could reject the deal, but other teams have used this maneuver – although not to this extreme – to slide big deals under the cap.
The Los Angeles Kings made a big play for Kovalchuk and seemed close to signing him. In the end, that franchise wasn’t willing to meeting Ilya’s financial needs.
Devils GM Lou Lamoriello channeled his Inner Jack Quinn to pull off this deal. Perhaps he learned something from dealing with the Mike Shanahan-era Blues afterall. This was quite a maneuver.
The Devils are serious about trying to win while they still have Martin Brodeur in goal.
Kovalchuk was the top unrestricted free agent, by plenty. Now that he is off the board, teams can get back to buying, selling and trading.
The Blues have remained on the perimeter of the fray since Armstrong engineered the blockbuster deal for goaltender Jaroslav Halak.
Perhaps Armstrong can find something to his liking now that the marketplace is moving again.
Several teams face salary cap challenges are willing to offload salaries – as the Flyers did by sending speedy winger Simon Gagne and his $5.2 million salary to Tampa Bay for Matt Walker, the former Blues defenseman.
From the talent perspective, that deal was a steal for new Lightning GM Steve Yzerman. Gagne can still 30 to 40 goals per season if he can stay healthy and if he gets to play with, say, Vincent Lecavalier and Martin St. Louis.
But Gagne’s extensive injury history makes him a bit of a gamble, especially for a team trying to rebuild. It’ll be interesting to see if Tampa Bay locks him into a contract extension.
“Obviously the risk is in the injuries he has had and the time he has missed. We did as much homework as we could,” Yzerman said, according to the Tampa Tribune. “We know what we're getting in the player and the risk involved.”
(Speaking of risk, why did the Flyers sign winger Nikolai Zherdev out of the KHL? Since when is Philadephia safe haven for one-dimensional scorers with poor work ethic? Somewhere out there Ken Hitchcock is shaking his head sadly.)
Here are some things to watch in the days ahead:
The Devils may have to move some salary, after trading for center Jason Arnott earlier this summer and signing free-agent defensemen Anton Volchenkov and Henrik Tallinder to replaced the departed Paul Martin. Dainius Zubrus seems almost certain to be dealt, since he is one of the few notable Devils veterans lacking no-trade or no-movement protection.
The Canucks are looking to offload a defenseman, perhaps rugged Kevin Bieksa.
Maple Leafs GM Brian Burke apparently wants to finally move offensive defenseman Tomas Kaberle, the top puck mover in the trade mart.
The Kings should finally get busy after missing out on both Kovalchuk and Gagne. Fans of that team must wonder what in the world is happening.
The Blackhawks are still over the cap, but GM Stan Bowman insists he won't trade scorer Patrick Sharp.
Mid-level free agents like former Blues forward Lee Stempniak remain on the market, hoping to coax teams into opening the vaults. There is still some notable unsigned talent out there.
The Lightning are serious about winning. By adding Gagne, goaltender Dan Ellis and offensive defenseman Pavel Kubina, they are clearly trying to make noise sooner than later under Yzerman. What else does Stevie have up his sleeve?
Old friend Manny Legace is looking for a goaltending gig again. He tried the KHL, but got rebuffed.
Yesteryear NHL enigma Alexi Yashin is looking for a new team. He is all but certain to stay in the KHL, where he can play his usual half-speed game and get away with it. Agent Mark Gandler told Yahoo! Sports that the Islanders would still love to have him back . . . which tells you all you need to know about how bad that franchise remains.
