Everyone is going to have to wait a few days longer. As I posted yesterday, under the CBA, the NHL's decision on whether to approve or reject Kovalchuk's new decision with the Devils was supposed to be made by 5 p.m this afternoon.
However, the NHL and the NHLPA have mutually agreed to extend the deadline until 5 p.m. Friday afternoon. leaving two more days for us all to speculate on their decision.
In the meantime, James Mirtle of the Globe and Mail has posted a chart comparing the rejected Kovalchuk deal and the new proposed contract.
The contract structures are very similar except for the fact that Kovalchuk's salary goes up in the last two years of the deal. It will be interesting to see if this will be enough for the NHL to accept the new contract.