Ilya Kovalchuk Situation Remains “Murky”

The ongoing battle over where Ilya Kovalchuk will play next year has taken another turn, and this time (like every other it seems) it’s not clear where he will end up. Chris Johnston of Sportsnet tweeted that there has been talk of a potential return to the KHL next season, and a report out of Russia has the head of SKA St. Petersburg set to meet with the star on Thursday to discuss a possible contract.

Kovalchuk has been clear that he wants to come to the NHL, but with the league perhaps not willing to give him the term or salary he’s after while an extra price is attached to him he may have to wait another year. Should he want to play in the NHL this year, a team would have to sign him to a contract and make a trade with New Jersey for his rights. While it’s not clear what asset the Devils would want in return, waiting to sign Kovalchuk next season comes with no dangling threads. He’ll be 35 then, but an unrestricted free agent able to sign with any team.

It may seem prudent to wait that long, but 35+ contracts do come with some intricacies that should be made clear. First, the team would be on the hook for the cap hit regardless of what happens to Kovalchuk. Though it’s unlikely he’d bolt a second time for the KHL, he is regarded as a national hockey hero in Russia and would be constantly wooed by the league to return. Another “retirement” from the North American ice would leave the team with a large dead cap hit on the books. The interesting option though could be an incentive-laden deal next summer.

After 35, players are allowed to take one-year deals with performance bonuses attached to certain season milestones. Any team unsure of how Kovalchuk could come over, could build in a relatively low salary with regular bonuses for games played, goals and points. Whether Kovalchuk would accept a one-year deal isn’t clear, but he could maximize his earning potential this way if he believes he can still be a star in the league. Either way, it’s unclear where the Russia star will land this season, and why we didn’t include him in our top free agent list (he’s not technically a UFA).