Here are the details:

  • $3 million dollar fine. Will not count against the cap. Money goes to the NHL Foundation. Funds must be paid in $1 dollar bills.
  • Surrender of 2011 third round draft pick.
  • Surrender of first round draft pick in one of the years 2011 to 2014, at New Jersey’s election. No truth to the rumors that the Rangers offered to buy that pick from the NHL with the assurance they would waste the pick only on a no talent hack.
  • The lost draft picks disappears so nobody gets them. That sucks for the kids who were getting chosen at that position though, no? What does the NHL do with them? Throw them down a well in Nova Scotia or send each of them to play for some North Alaskan beer league? Holy hell, they don’t ship the kids off to the KHL do they? I would take Nova Scotia…

Lou commented: “We were today advised of the ruling by the Commissioner with respect to the Kovalchuk matter. We disagree with the decision. We acted in good faith and did nothing wrong. We will have no further comment.”

Vanderbeek commented: “I’m selling the team in a couple of years anyway. Why the hell do you think it’s a $6 million dollar contract this season and next? It’s called a sales value contract, not market value, muhahaha…everyone is dumb but me!” Ok, Vanderbeek really didn’t say that but I bet he was thinking it.