A long-term deal between the New Jersey Devils and Ilya Kovalchuck was voided by the National Hockey League in late July. An arbitrator was hired to determine the NHL’s ability to cancel the contract. It was found Monday that Kovalchuck’s $102 million contract violated league policy by circumventing the salary cap.

The 17-year deal would have been the longest in NHL history if arbiter Richard Bloch didn’t intervene. The league noticed that the back end of the deal didn’t comply with salary cap rules. The Devils’ 2010-2011 NHL odds should be more favorable with the addition of Kovalchuck.

“We want to thank arbitrator Bloch for his prompt resolution of a complex issue,” NHL deputy commissioner Bill Daly said in a statement. “His ruling is consistent with the league’s view of the manner in which the collective bargaining agreement should deal with contracts that circumvent the salary cap.”

Though the All Star is now a free agent, he has already begun to negotiate a new deal with the Devils. Kovalchuck was traded to the Devils in February 2010 because the Atlanta Thrashers failed to offer him the amount of money he desired. New Jersey president and general manager Lou Lamoriello is confident they will be able to agree to a new deal.

“While we do not currently have a contract with Ilya Kovalchuk, discussions have resumed and we are hopeful that a contract will be reached that meets with the principles in arbitrator Bloch’s award and the NHL’s approval,” Lamoriello said.

Kovalchuck has recorded an impressive 338 goals and 304 assists in 642 career games. The Devils offered him the number he was looking for, but now the two sides must reach a deal that complies with the NHL salary cap.

If Kovalchuck is with the team when the Devils take the ice in 2011, BoDog Sportsbook will surely have the odds in their favor.

Bloch also ruled that the two sides acted in good faith, meaning they did not mean to break NHL rules. That finding may help in preventing the possibility of a fine by the league. NHL spokesman Frank Brown said the NHL has not decided on whether or not to take punitive action against the Devils.

The old deal had Kovalchuck making just $550,000 in each of the last five seasons of the contract. With 41 goals and 44 assists last season, the left-winger is the highest sought after player this summer.

Those setting NHL future odds have set the Devils among the favorites to win the 2011 Stanley Cup at +1600.