The Ilya Kovalchuk soap opera isn't over.

After weeks of speculation about where the free-agent Russian star would sign, Kovalchuk finally agreed to stay in New Jersey with a record 17-year deal worth $102 million. But that wasn’t the end of this story, as the NHL proceeded to reject the contract "as a circumvention of the collective bargaining agreement," according to a statement issued by NHL deputy commissioner Bill Daly last week.

And Monday, the NHL Players' Association made sure there would be no quick or quiet end to this tale, beating a 5 p.m. deadline and officially filing a grievance against the league’s ruling. The case will now go before an arbitrator, though as in all things Kovalchuk, "now" is a relative term.

The league and the union must first agree upon an independent arbitrator acceptable to both sides. Considering the past history between those two organizations and the current state of the NHLPA leadership, that process might take a while.

Once an arbitrator is agreed upon, that person will make a decision within 48 hours. That ruling will either uphold the deal and keep Kovalchuk a Devil at those terms, or void the contract and make Kovalchuk an unrestricted free agent again, and the bidding wars can begin anew.

The latter outcome could bring Los Angeles and other suitors back into play, as well as reopening the possibility of Kovalchuk returning to his homeland for the tax-free bushels of cash available in the KHL. The Devils also would be free to work out a new deal that doesn’t flaunt the CBA quite so blatantly as the current contract in question, which calls for Kovalchuk to make $95 million over the first 10 years and just $7 million in the final seven years. The final five years, which would have Kovalchuk in his 40s and making the league minimum $550,000, appear to be obviously designed to drop his cap hit to a manageable $6 million by adding low-money years he’s unlikely to play.

Similar front-loaded deals for Marian Hossa, Chris Pronger, Henrik Zetterberg, Johan Franzen and even the Bruins’ own Marc Savard had been grudgingly allowed by the league, but none so brazenly abused the spirit of the CBA as the Kovalchuk deal. They all are sure to be cited by the NHLPA during arbitration, however, as the union tries to argue that the Devils did abide by the letter of the law.

With Kovalchuk’s deal in limbo for the foreseeable future, any other potential deals around the league could be put on hold as well. Teams seeking offensive help that missed out on Kovalchuk and Simon Gagne, who was traded from Philadelphia to Tampa Bay hours after the Kovalchuk deal was announced, may now wait to see if they’ll get another shot at Kovalchuk rather than pursuing any of the other players available. The short list of impact offensive players on the market includes Savard, who’s been the subject of trade rumors all summer despite signing a cap-friendly long-term deal last winter.

The Bruins will be interested observers of the arbitrator’s ruling for another reason, as they have both Zdeno Chara and Patrice Bergeron eligible for unrestricted free agency after this season. Both could be candidates for front-loaded long-term deals at reduced cap hits, but the days of those deals could be over if the league prevails in its case against Kovalchuk.

Of course, if the Bruins do end up trading Savard this summer before his cap-friendly extension even begins, it would probably be difficult to get Chara or Bergeron or anyone else to agree to a so-called "retirement deal." The promise of finishing their careers in Boston would have to be viewed with a bit of skepticism if Savard is shipped out this summer.