The puck stops here
Published 03 September, 2008, 08:48
Russia’s new KHL is set to challenge the dominance of its chief rival in competitive ice hockey – America's NHL.
For years the National Hockey League has consolidated hockey supremacy, luring the best players across the globe with lucrative contracts and the opportunity to play among hockey’s elite. This summer however, it was Russia’s new Continental Hockey League making headlines as rumours persisted that numerous teams were lining up to make MVP finalist Evgeny Malkin the richest hockey player in the world. Such an offer would have been in violation of the one year Malkin had remaining on his entry-level contract with the NHL’s Pittsburgh Penguins.
The hype died down and Malkin eventually signed an extension with the Penguins but the rumours sent a message to the NHL that the KHL was for real. On July 10 NHL representatives sat down with their KHL counterparts in Zurich to reach a deal that would respect contracts across all borders. The two parties agreed to establish a working group which will meet later this month September to establish a new international transfer agreement.
Within days of the meeting, however, the NHL’s Nashville Predators cried foul when Salavat Yulaev signed budding star Alexander Radulov to a three-year contract worth an estimated US $13 million. Radulov, who had one year remaining on his entry contract with the team at US $984,200, has been suspended from international play by the International Ice Hockey Federation.
The Radulov signing marks a reverse trend in the hockey world, as the KHL returns the favour by poaching top-end talent. Over the years the NHL has treated its European counterparts as little more than developmental leagues, drafting their top players with little to no compensation for the teams. It was only two years ago that Evgeni Malkin himself opted out of his final year with Metallurg Magnitogorsk to sign with the Pittsburgh Penguins.
With strong financial backing, the KHL is the first league to emerge with the capability of outbidding the NHL. The KHL has already signed a number of NHL players this summer, most notably aging superstar Jaromir Jagr, but the strength of the league may rest in its ability to outbid for the rights to younger players. The NHL, which is already handcuffed by a salary cap, has a rookie maximum salary of $US 875,000 although this can rise to US $3,675,000 should all performance-related bonuses be claimed.
The number of Russian players drafted by the NHL has been in steady decline since 2000, not because of a lack of talent but because of a fear they will never arrive. With the emergence of a competitive Eurasian league, European prospects may start joining them. With a bevy of talent and money at its disposal, the lure of playing in Russia has never been greater.
The KHL opens its season September 2.
Jayme Herve-Azevedo for RT.
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