NHL approves new Kovalchuk contract

Hockey Betting Lines

09/03/2010 - Toronto, ON (Sportsbook Betting Lines) - Ilya Kovalchuk will finally join the New Jersey Devils after his re-submitted contract was reportedly approved by the National Hockey League.

Additionally, according to TSN of Canada, the league and the NHL Players' Association reached an agreement on an amendment to the rules that govern long-term contracts. A report from The Record in New Jersey states that new guidelines will be implemented regarding how the salary cap hit would be calculated for long-term deals that go beyond the ages of 35 and 40.

Kovalchuk's initial 17-year, $102 million deal with the Devils was rejected by the league on the grounds that it circumvented the league's salary cap. The deal was front-loaded so Kovalchuk could have earned as much money as possible while providing the lowest possible cap hit for the team.

The NHL Players' Association filed a grievance on Kovalchuk's behalf, but an arbitrator ruled in favor of the league. His second deal is worth a reported $100 million over 15 years, which provides an annual cap hit of $6.66 million.

The rejection of the contract provided much debate throughout the league in terms of "lifetime" contracts given to players that have helped reduce the yearly salary cap hit. Several players in previous years signed deals that took them past 40 years of age and saw the annual salary dip below $1 million in the final years of the contract.

Because of the league rules on player contracts after the age of 35, it was conceivable that someone could retire before the deal had expired, wiping the contract off the salary cap. This rule allowed teams to sign players to front-loaded contracts to benefit both the team and player.

With the new guidelines in place regarding long-term deals and the CBA negotiations that will occur in the next few years, it is likely that Kovalchuk's contract is the last of its kind. Additionally, according to the report in The Record, similar contracts that have been signed previously will not be affected by the new rules.

Kovalchuk's deal will reportedly take the team about $3 million over the salary cap with 21 players under contract, and the Devils will have to get under the $59.4 million cap before the beginning of the season while adding two more players to the roster.

Kovalchuk posted 41 goals and 85 points in 76 games last season, 10 goals and 27 points coming in 27 games with New Jersey. In a five-game first-round playoff loss, the 27-year-old added two goals and six points.

In 621 games since entering the league in 2001, the Russian star has accumulated 338 goals and 642 points with Atlanta and New Jersey.

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Mens NCAA Basketball Tournament odds  
As of February 9, MySportsbook.com has released its coveted 2007 Mens NCAA Basketball Tournament betting odds. “March Madness betting ” only a month away, the top ranked Florida Gators are favorite at 7-2 to win it all. The defending champs have not disappointed at all this season and currently have a 22-2 record and are undefeated (9-0) in SEC play. The Gators’ thrive off of their extremely balanced, experienced and versatile attack. All five starters started in last seasons National Championship game. What is most impressive with this group is their balance; the five starters all average between 10.7 and 13.6 PPG. The Gators have been on an absolute roll having won 15 straight by an average of 16.4 PPG.

Right behind the Gators are the 5th ranked UNC Tar Heels at 9-2. The Heels (21-3, 7-2) are absolutely loaded with top notch talent and are as deep as any team in the country. A concern for the Tar Heels might be inexperience. Of their top four scorers/ minute earners, three are freshmen and the other is a sophomore. The rest of the regular season, the Tar Heels play only one team that is currently ranked (Duke). Their remaining opponents do combine for an impressive 107-58 record though.

Other teams that the MySportsbook.com members seem to believe will win it all include the west coasts’ top team #2 UCLA (6-1), #3 OSU behind man-child Greg Oden (8-1), and #4 Wisconsin (10-1) behind their defense which has given up 70+ points only three times all season.

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Arizona 20-1

Butler 20-1

Duke 30-1

Florida 7-2

Georgetown 30-1

Indiana 35-1

Kansas 15-1

Marquette 25-1

Maryland 40-1

Memphis 50-1

Nevada 50-1

UNC 9-2

OSU 8-1

Oregon 30-1

Pittsburgh 15-1

Texas 30-1

Texas A&M 18-1

UCLA 6-1

Wisconsin 10-1

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