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Devils Fined $3M Over Kovalchuk Deal
Updated: Monday, 13 Sep 2010, 6:36 PM PDT
Published : Monday, 13 Sep 2010, 6:36 PM PDT
(NewsCore) - The New Jersey Devils were fined $3 million and had two draft picks taken away Monday for signing Ilya Kovalchuk to a contract that circumvented the NHL's salary cap, ESPN reported.
The Devils had tried to sign the Russian star to a front-loaded 17-year, $102 million deal in July -- but the deal was rejected by the league.
In a settlement, the Devils were able to sign the 27-year-old to a 15-year, $100 million contract.
The penalty handed down Monday will see the Devils forfeit their third-round draft choice in 2011 and a first-rounder in one of the next four drafts.
Devils general manager Lou Lamoriello said: "We were today advised of the ruling by the commissioner with respect to the Kovalchuk matter. We disagree with the decision. We acted in good faith and did nothing wrong. We will have no further comment."
The league said it now considers the matter closed.
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