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Ilya Kovalchuk retires with $77 million left on his contract
In leaving, the 30-year-old Kovalchuk walked from $77 million left on the 15-year contract that he signed with New Jersey in 2010, including guaranteed annual salaries of at least $11 million over the next four seasons.
The Devils announced the stunning news Thursday afternoon, saying that the 30-year-old Kovalchuk had alerted general manager and president Lou Lamoriello earlier this year that he wanted to return home with his family after 11 seasons in the NHL.
Lamoriello refused to disclose anything about his conversations with Kovalchuk relating to the retirement. He also did not clarify whether the Russian planned to play in the KHL in Russia next season or whether the Devils would retain his rights if he reconsidered his retirement, deferring to the NHL. He said Kovalchuk’s decision was not related to anything physical.
Kovalchuk had back problems in 2011-12 and missed 11 games this past season with a shoulder injury.
“This decision was something I have thought about for a long time going back to the lockout and spending the year in Russia,” said Kovalchuk, the No. 1 pick in the 2001 draft, said in a statement. “Though I decided to return this past season, Lou was aware of my desire to go back home and have my family there with me. The most difficult thing for me is to leave the New Jersey Devils.”
Kovalchuk was to earn $11.3 million in each of the next two seasons and $56 million over the next five years. Lamoriello said Kovalchuk didn’t receive a signing bonus, so the team didn’t have to seek recovering any money.
The defection means the Devils have lost their top two players after each of the past two seasons. Zach Parise signed as a free agent with Minnesota after their 2012 run to the Stanley Cup finals, and Kovalchuk is leaving the team without a superstar because Martin Brodeur can no longer fill that category in his 40s.
The Devils added some scoring in the recent free agency period re-signing Patrik Elias while adding Ryane Clowe and Michael Ryder as free agents.
“We’re going to put the best possible team we can on the ice,” Lamoriello insisted, saying his main focus will be moving forward.
By Tammy Bruce
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