Time is running out on Evgeni Malkin making it over in time for the 2006-2007 NHL season. Malkin was the 2nd overall pick in the 2004 draft, but has been prevented from coming over to the US by Russia's failure to sign the IIHF transfer agreement that the other European nations signed in the Summer of 2005.
New Russian Hockey Federation president Vladimir Tretiak had announced on June 9th that the Russian Federation had agreed to sign the IIHF-NHL transfer agreement, yet dragged his feet on producing the signed, ratified document for two months. This past week, he announced that Russia would not sign after all.
The transfer agreement allows players to come to the NHL, with the NHL teams paying into a fund for every player brought over. The funds are used to support hockey development in those countries. Russia believes they are deserving of more money per player than the rest of Europe, but the real reason for their balking is Malkin himself.
Malkin's Russian Superleague (RSL) team wants $2M US to let him cross the Atlantic, and the NHL is unwilling to let member clubs negotiate directly. Malkin's contract with Metallurg Magnitogorsk runs through 2008, and does not contain an out-clause, such that Russia vetoing the transfer agreement means Malkin stays in Russia. Metallurg this week has announced a renegotiation with Malkin that pays him more, but only keeps him under contract until May 1, 2007, at which point the Penguins could sign him without giving any compensation, except a season of his services lost. He would not be able to play in the 2007 playoffs without clearing waivers, something the Pens would not subject him to.
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