Report: NHL Rejects Revised Kovalchuk Deal

NEW YORK (WFAN/AP) -- The NHL has nixed New Jersey's second go at getting Ilya Kovalchuk signed with the Devils, the NY Post reports.

According to the Post:

"The Devils' hopes to sign Ilya Kovalchuk have been confounded again, denied encouragement from the NHL on their second try at a contract, The Post has learned.

Now, the NHL is risking being the culprit if one of its most talented players leaves for Russia, as time becomes a factor in Kovalchuk's decision where to play."

Kovalchuk was the NHL's top free agent this year with 338 goals in 642 career games.

Under the deal that was voided by the league, Kovalchuk would have only counted for $6 million annually against the cap. The lower cap value resulted because he would have been paid just $550,000 in each of the last five years of the contract.

If Kovalchuk re-signs with New Jersey, there is a chance the team might have to move some players to make room for him.

The Associated Press contributed to this report.