According to Tom Gulitti, the Devils have just received punishment for their actions for the
Ilya Kovalchuk deal Cap circumvention in the First contract with Ilya Kovalchuk. The Devils will be fined upwards of $3 million, and will be stripped of a 1st round draft pick, as well as a 3rd round draft pick from the 2011 draft (the upcoming draft).
The Fine of $3 million dollars will not affect the Devils cap space at all, which is huge because dumping nearly $6 million of salary would be really tough. All the fined money goes to charity, so it's not like this money was going somewhere bad. As for the First rounder, it will be one in the next four years, and the Devils can choose which 1st rounder they're going to surrender. I think this might be in the favour of the Devils, as if they were to be stripped of the 2011 1st rounder, they would have no draft picks until the fourth round, as the 3rd rounder is being stripped and the Devils and the Devils traded their 2nd rounder to Nashville in the Jason Arnott trade. Also, because they can choose which first rounder will be stripped, they can sacrifice a really late 1st rounder (like 26-30th overall) instead of sacrificing a higher pick if things don't go well this year. So basically for 15 (and a quarter) years of Kovy's service, the Devils gave up 2 first rounders, a 3rd rounder, Niclas Bergfors, Johnny Oduya, Patrice Cormier and possibly more for Ilya Kovalchuk.
Various fallout from the hockey blogosphere (on Twitter) after the Jump
Joe Yerdon from Pro Hockey Talk
Chris Burton from On the Forecheck
PPP from Pension Plan Puppets
Don't Trade Vinny from Don't Trade Vinny
Ryan Classic from Silver Seven Sens
James Mirtle from the Globe and Mail, and former head of SBNation hockey
Popular Leafs Vlogger Steve Dangle
And Last but not least, from the big man himself (Via Tom Gulitti)
And Finally, your thoughts. Vote in the Poll below and express your dismay without breaking any of the rules, like no swearing.