Monday, September 13, 2010

NHL Punishes Devils For Cap Circumvention

The NHL came down hard today on the New Jersey Devils announcing that they would be punished for purposefully attempting to circumvent the salary cap when they signed Ilya Kovalchuk to a 17 year contract earlier this summer.

According to TSN:
The league announced in a press release Monday that they have fined the Devils $3 million and that the club will forfeit their third-round draft choice in the 2011 NHL Entry Draft as well as a first-round draft choice in one of the next four NHL Entry Drafts.

It will be the Devils' decision which year they will forfeit the first round choice.  They must advise the NHL of their decision by the day following the conclusion of the Stanley Cup Final in the calendar year in which the pick will be forfeited.

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