NHLPA files grievance on behalf of Kovalchuk
Hockey Betting Lines
07/26/2010 - Toronto, ON (Sportsbook Betting Lines) - Ilya Kovalchuk's free agency saga took another turn on Monday when the NHL Players' Association filed a grievance on behalf of the Russian superstar who had his 17-year, $102 million contract with New Jersey rejected by the league.
"The NHLPA has filed a grievance disputing the NHL's rejection of the standard player contract between the New Jersey Devils and Ilya Kovalchuk," the NHLPA said in a statement. "Under the terms of the CBA, the NHLPA and Mr. Kovalchuk are entitled to an expedited resolution of this matter. The NHLPA will have no further comment until this matter has been resolved by an arbitrator."
The NHL rejected the record deal last week on grounds that it circumvented the league's salary cap. The rejection was likely due to the way the deal is structured, which was previously reported by the Newark Star-Ledger. He was due to earn $6 million in each of the next two seasons, $11.5 million from 2012-17 and $10.5 million the following year. The salary was scheduled to fall off after that until he made $550,000 annually in the final five years of the deal. He would have been 44 years old when the contract was set to conclude in 2027.
The way the current collective bargaining agreement is structured, a player who signs a deal before the age of 35 can eventually retire and have his contract come off a team's salary cap; however, teams must negotiate in a good faith effort to have the player remain in the league for the duration of the contract. It appears the Devils frontloaded the deal so Kovalchuk could have earned as much money as possible while providing the lowest possible cap hit for the team.
The next step in the process is to find an arbitrator to rule on the case. Once selected, that individual will have 48 hours to decide on an outcome. Kovalchuk will either have his contract with New Jersey upheld or he will once again become an unrestricted free agent, allowing the 27-year-old left winger to sign with any team, should the arbitrator side with the NHL.
Similar investigations were also launched last offseason for Philadelphia's Chris Pronger and Chicago's Marian Hossa, but the league did not void either of those contracts. Pronger signed a seven-year extension worth $35 million, where he makes $525,000 in each of the final two seasons, while Hossa makes $1 million or less in each of the final four years of his 12-year, $62 million deal.
Kovalchuk registered 41 goals and 44 assists in 76 games split between Atlanta and New Jersey last season.
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SPORTS BETTING
NFL Football Betting OnlineIn terms of sports wagering, the NFL is "the most popular game in town." The explanation behind that is easy.
It is called the "pointspread."
Many years ago, NFL games, as well as the more popular college games, used straight odds as a vehicle for betting. For example, if the Bears were playing the Giants, and it shaped up as a competitive contest, the Bears might be, say, a 7/5 favorite. If they were playing an also-ran, it might be 10/1. Well, there is a point where a line becomes prohibitive, as far as betting the favorite. And who would waste money betting an underdog that has virtually no chance? Such a setup did not contribute to promoting betting action.
But in modern sports betting, a "pointspread" is used.
A NFL pointspreads are exactly that, a pre-established point difference between the two sides that will, for all intents and purposes, create a handicap that evens things out, and in doing so, produces comparable wagering activity on both sides of that proposition. So in lieu of a odds figure in which to bet the team to win outright, the Bears might be a three-point favorite over the New York Giants, and a 17-point favorite over the also-ran. Now that the team that is the underdog can "get" points, there can be equal action on both sides.
In sportsbooks, this is usually done with efficiency by charging the losing bettors 10% extra - in effect, bettors are laying 11/10 on those games. So they are actually betting $110 to win $100. If they lose, they pay the "vig." If they win, they simply collect.
The establishment of the pointspread as the corner stone around which team sports like football can be wagered upon was truly what brought gridiron betting into the stratosphere for online football betting .
Don't believe it? Just take a look at what happens around the Super Bowl.
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