Devil of a Deal

The New Jersey Devils succeeded in snagging the services of Ilya Kovalchuk. The NHL’s most prominent free agent of 2010 chose to resign with the Devils, inking a reported 17 year deal worth an estimated $102 million. New Jersey outbid the LA Kings and New York Islanders for the 27 year old Russian native.
In Kovalchuk, the Devils signed a great competitor with superior scoring and moderate defensive skills. They have a former number one draft pick and three-time All-Star. Locking up a professional athlete for the long-term is not without risk, however. What bothers me most about the signing is not the truckloads of cash the organization shelled out to Kovalchuk. It’s not even the team’s 17 year commitment to a player who is already in his prime. What the Devils essentially did Monday was slap the franchise tag on an athlete who has been part of the team for less than a year. How would you feel if you were Zach Parise or Travis Zajac? Zajac was selected in the fourth round in 2004 and has been with New Jersey since. Parise is already an established league player, an Olympic hero and the face of the franchise. He was an original Devils draft pick. In marches Kovalchuk with one playoff win under his belt (in eight tries) and the focus shifts to New Jersey building a team around him. It doesn’t seem fair.
From a purely financial standpoint, the Kovalchuk deal flops. The amount of money is not as lucrative as the longevity of the contract would dictate. The contract is front-loaded and expires when Kovalchuk is 44 years old. How many players are still scoring goals with relative frequency at 44? The organization is tying up money that could be utilized more appropriately down the road. Kovalchuk’s value is high, but unless he turns out to be the next Wayne Gretzky, or Scott Stevens for that matter, the Devils are the losers in the end. Time will dictate Kovalchuk’s legacy in New Jersey. Personally, I thought the Kings were the best fit for the Russian player. LA boasts a younger squad and is headed in a more positive direction than I feel the Devils are at this time. Would anyone in their right mind really choose Newark over Los Angeles? It should be a stimulating next decade and a half for the Devils. See you in 2026 for a follow-up assessment of this devil of a deal.

Parting Points: Andy Pettitte’s out for a few weeks. This does not bode well for New York, but I feel the team will be able to sufficiently fill his slot.