Kovalchuk pact approved; NHL-NHLPA adopt rules for long-term deals

Hockey Betting Lines

09/04/2010 - Toronto, ON (Sportsbook Betting Lines) - Ilya Kovalchuk will finally join the New Jersey Devils after his re-submitted contract was officially and finally approved by the National Hockey League just before 3 a.m. (et) Saturday morning.

The re-worked contract now calls for Kovalchuk to collect a reported $100 million over 15 years, with an annual cap hit of close to $6.66 million. The deal is thought to pay out $90 million in the first 10 years and $10 million over the last five.

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. The Russian star, now 27, would be approaching age 43 when the contract expires.

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.

The NHL and NHLPA together, did away with those scenarios in one fell swoop Friday, jointly adopting new regulations on such pacts while simultaneoulsy ruling on Kovalchuk's situation after a whirlwind of postponements on a ruling that stretched well into the night.

The new rules will apply only to long-term contracts, five years or longer in length, and only those going forward beyond the September 4 ruling date. All previous contracts are grandfathered in, meaning Kovalchuk's contract will likely be the last of its kind.

To that end, the two entities also announced that the league will terminate its circumvention investigations into the contracts signed in 2009 by Marian Hossa of the Chicago Blackhawks, Roberto Luongo of the Vancouver Canucks, Marc Savard of the Boston Bruins and Chris Pronger of the Philadelphia Flyers.

"We are pleased to finalize an agreement which ends the league's circumvention investigations and also establishes rules on long-term contracts that will provide players, their certified agents and general managers clarity for the negotiation of new contracts," said Roland Lee, associate counsel for the NHLPA and director of Salary Cap/Marketplace. "Turning the page on this process is something that will benefit all parties involved."

Taking into account the NHL's salary cap system and forthcoming CBA negotiations, a special calculation of value will be made in two ways for contracts that extend beyond a player's 41st birthday, and any long-term contract that averages more than $5.75 million for the three highest- compensation years will have rules put into place that limit that player's compensation to a minimum of $1 million between the ages of 36 and 40.

Because of the league's previous rules on player contracts after the age of 35, it was conceivable that someone could retire before a contract 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.

"We're pleased to be able to establish clearly-defined rules for these types of contracts going forward and just as happy we can turn the page on uncertainties relating to several other existing contracts," NHL Deputy Commissioner Bill Daly said. "From start to finish of this multi-week process we were able to work closely and cooperatively with representatives of the Players' Association, who shared our belief that the creation of definitive rules and guidelines in this area would be beneficial to everyone -- clubs and players alike."

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, he has accumulated 338 goals and 642 points with Atlanta and New Jersey.

Baseall Hockey Betting News

<< Dodge faces win-or-else season at North Texas
DENTON, Texas (AP) -Todd Dodge is no longer the hot shot high school coach hired to energize the North Texas football program.After 31 losses in three years, he's just trying to hang on to his job and avoid becoming another case study in why it's so

<< Rockies extend San Diego's losing streak to eight
San Diego, CA (Sportsbook Betting Lines) - Jason Giambi and Troy Tulowitzki each hit a two-run homer, as the Colorado Rockies dealt San Diego an eighth consecutive defeat, 4-3, in the opener of a three-game series. Aaron Cook (5-8), who was acti

<< A's blank struggling Angels behind Gonzalez
Oakland, CA (Sportsbook Betting Lines) - Cliff Pennington and Kevin Kouzmanoff each homered during a six-run seventh, as the Oakland Athletics dominated the Angels, 8-0, in the opener of a three-game series. Gio Gonzalez (13-8) tossed si

<< Giants trade for Sage Rosenfels
East Rutherford, NJ (Sportsbook Betting Lines) - The New York Giants have found a backup quarterback after acquiring Sage Rosenfels from the Minnesota Vikings on Friday. The trade also saw running back and return specialist Darius Reynaud h

<< D-Backs edge Astros
Phoenix, AZ (Sportsbook Betting Lines) - Augie Ojeda's sacrifice fly in the bottom of the eighth delivered the winning run as Arizona downed Houston, 4-3, to start a three-game set. Adam LaRoche went 2-for-4 with two runs batted in and Gerardo Pa

Tuberville's Texas Tech to debut vs. improving SMU >>
LUBBOCK, Texas (AP) -June Jones knows the order is a tall one for his improving SMU squad.The Mustangs will open the season Sunday in Lubbock as the first opponent for new Texas Tech coach Tommy Tuberville, who vowed when he took over in January not

Sisk keeps lead at Mylan Classic >>
Canonsburg, PA (Sportsbook Betting Lines) - Geoffrey Sisk remained atop the leaderboard Saturday when the second round of the rain-delayed Mylan Classic was completed. Sisk played the final three holes of his round and finished off a four

Georgia holds A.J. Green out of opener >>
ATHENS, Ga. (AP) -Georgia star receiver A.J. Green is being held out of the Bulldogs' opening game against Louisiana-Lafayette.Georgia spokesman Claude Felton says Green will miss Saturday's game for the No. 23 Bulldogs pending a ruling from the NCA

Scorching Yanks seek eight straight win in test with Jays >>
(Sportsbook Betting Lines) -- The New York Yankees have solved just about all their problems during a seven-game winning streak that matches the team's longest of the season. The defending world champions will now turn their attention towards getting Jav

Red Sox, White Sox to begin set with double dip >>
(Sportsbook Betting Lines) -- After mother nature delayed the opening of this important weekend set, the Boston Red Sox and Chicago White Sox will renew acquaintances with a day-night doubleheader that begins this afternoon from Fenway Park. The arriv

Albert Pujols to be This Year's Home Run Champ Says Online Sportsbook

Barry Bonds is a 50-1 long shot to be this year's home run champ odds.  The favorite to be this year's home run champ is none other than Albert Pujols, however.

Now that Barry Bonds is signed and in Giants camp, it is on to his pursuit of all of sports most prestigious records: the all-time home run mark. Bonds sits just 21 homers shy of tying Hank Aaron for the career mark at 755. Word out of Giants’ camp is that Bonds is the healthiest he has been in a few years. Bonds is just two seasons removed from his injury riddled 2005 campaign where he played in only 14 games and hit only 5 home runs. He did come back last year and had a solid season hitting .270 with 26 bombs. All eyes will be on Bonds this spring and summer not only because of his home run chase but his highly publicized steroid abuse allegations. If and when Bonds breaks the record, he surely will not get the positive attention one should for breaking a record that was once thought of as “unbreakable”. Despite Bonds decent season last year, he is just 50-1 at MySportsbook.com to lead the MLB in long balls this season.

Not surprisingly, the favorites to go deep the most times this season are Albert Pujols 5-1, Ryan Howard 6-1, David Ortiz 8-1 and Alex Rodriguez 12-1. With 49 homers, Pujols finished second in the National League behind Howard (58). Pujols is considered the favorite due to the consistent power numbers that he has posted since breaking into the league in 2001. Also one must consider the fact that he played in 16 fewer games then Howard did due to an injury. Howard smashed 58 homers in his first complete season of big league play en route to the National League MVP odds award. He silenced his critics by successfully hitting left-handed pitching. Howard also displayed the ability to use his power to the opposite field. Two attributes which should keep Howard amongst the league leaders in long balls for years to come. From the American League representatives, David Ortiz leads the field. Ortiz was second in the majors last year with 54 home runs. Except for 1999 when he only played in 10 games, Ortiz has improved on his home run numbers each year he has been in the majors (1997).

Be sure to log onto online sports betting site MySportsbook.com to check out the odds for who will lead the MLB in home runs this season. Below is just a sample of the players listed. With the highest credit card rates in the industry, MySportsbook.com is the place to bet on baseball this summer.

World Series odds

Adam Dunn 15-1

Albert Pujols 5-1

Alex Rodriguez 12-1

Alfonso Soriano 15-1

Andruw Jones 25-1

Barry Bonds 50-1

Carlos Delgado 40-1

David Ortiz 8-1

Jermaine Dye 40-1

Ken Griffey Jr. 100-1

Lance Berkman 40-1

Manny Ramirez 20-1

Richie Sexson 40-1

Ryan Howard 6-1

Travis Hafner 20-1

Vladimir Guerrero 40-1

To visit this online sportsbook got to MySportsbook.com - this sportsbook accepts credit cards.

With all the style and sex appeal of Las Vegas, MySportsbook.com is without a doubt the coolest online sportsbook on the Internet.

At MySportsbook.com, players get to enjoy the luxury of a five star sportsbook, a racebook that's second to none, a casino with all the bells and whistles, and a swanky new poker room!

MySportsbook also has a unique games room where players can go head-to-head for cash playing such things as sports trivia and fantasy games, popular arcade games, word and memory games, and more.

Throughout MySportsbook, visitors and members are treated to informative sports news and sports betting stats Sports matchup reports and sports betting trends as well as entertaining columns written by colorful personalities.

The management at MySportsbook has been in the online gaming business since 1997. As a result of this success, management has earned a coveted spot on eGaming Review's "Power 50" list, which recognizes leaders in online gaming.

With MySportsbook.com , management's goal is to provide players with an exciting place to experience the thrill of gaming in a safe and trustworthy environment.

Thus, players at MySportsbook are assured of getting top notch customer service while having a wickedly good time.

To visit this online sportsbook got to MySportsbook.com for all your Sportsbook accepts Visa needs.