The New Jersey Devils have decided to hold onto their first-round pick in the 2012 NHL Draft, according to The Record of Woodland Park, N.J.
The team had until Tuesday to notify the league of its decision. The team's decision was later confirmed by NHL Deputy Commissioner Bill Daly in an email, that the deadline passed without the Devils informing the league it was giving up the pick, according to The Record.
As part of the penalties for the rejected Ilya Kovalchuk contract, the Devils must give up a first-round pick by 2014. (AP Photo)
As punishment for the league's rejection of the 17-year, $102 million contract the team initially gave star forward Ilya Kovalchuk in 2010, the team was fined $3 million, lost its third-round pick in 2011 and was forced to give up a first-round pick in either 2011, 2012, 2013 or 2014.
The team won the draft lottery in 2011 and kept the fourth overall pick to select defenseman Adam Larsson.
The NHL had ruled that the agreement circumvented the salary cap. Kovalchuk and the Devils later reached a deal for 15 years and $100 million that was approved by the league.
Because of the team's run to the Stanley Cup finals, its first-round pick this year will be No. 29 overall. The team's postseason run led many to believe that this would be the year the Devils would choose to forfeit their first-rounder.
Instead, the team will hold onto the pick and use it or trade it. The 2012 NHL Draft will be held June 22 and 23 in Pittsburgh.
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