NHL, KHL extend memorandum of understanding

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From ITAR-TASS News Agency in Russia:

The extension of the Memorandum of Understanding between the National Hockey League (NHL) and the Kontinental Hockey League (KHL) is particularly important in view of the current global political situation, KHL President Alexander Medvedev said on Thursday.

An agreement to extend for one more year the Memorandum of Understanding, which stipulates respect for contracts of professional players from the both Leagues, was signed on Thursday prolonging it until June 30, 2015. The memorandum is primarily aimed at resolution of disputable situations in case of players’ transfer from the one league to the other.

Basically, the memorandum of understanding requires each league to honor its respective contracts with players. For example, when Ilya Kovalchuk went to the KHL, his NHL contract with the Devils first had to be voided.

Only time will tell, given the current state of relations between Russia and much of the rest of the world, if these memorandums will be forthcoming in the future.

“The signing of the document is particularly important against the background of the current global political situation. It keeps the sport out of politics,” Medvedev told an ITAR-TASS correspondent. “I only want to express hope that our foreign partners, who manage ice hockey in the United States, Canada and Europe, will maintain such approach in the future.”

Related: Ovechkin would have to negotiate out of current deal to head to KHL