I'll keep this short because there really isn't too much to say. This is just an update from my previous post.
The Ilya Kovalchuk contract saga has ended, and the NHL and the NHLPA have reached an agreement, ending any investigations associated with cap circumvention.
That would include Marian Hossa's 12-year, $63.3 million deal with the Hawks. The long-term contracts of Roberto Luongo, Marc Savard and Chris Pronger also are good.
From Dan Rosen of NHL.com ... the deal was reached early this morning.
Early Saturday morning, the National Hockey League and the NHL Players' Association agreed to a global settlement to cease the investigations linked to cap circumvention for the above contracts while adopting regulations to govern long-term contracts of five or more years.
The regulations will be added as a supplement to the Collective Bargaining Agreement and apply to all contracts signed from today. As a result, NHL officials agreed to register the new Kovalchuk contract as it was submitted by New Jersey last week and terminate their reviews of the contracts already registered for Luongo, Savard, Pronger and Hossa.
That's really it. For more, read the full story at NHL.com HERE.