The NHL and KHL have a memorandum of understanding that was extended until June 30, but in the not too distant future the two leagues might have a transfer agreement. NHL deputy commissioner Bill Daly said the two sides are close, per Sportsnet.
The difference is that a transfer agreement would create a system where there could be fees per player that switches leagues. Right now the memorandum of understanding only states that the two leagues have to respect each others contracts. So, for example, Ilya Kovalchuk had to get his NHL contract voided before he could go to the KHL.
If the two leagues are able to secure a transfer agreement, it would mark the first time since 2004 that the NHL has had one with Russia.
The deal would reportedly run for four years, which is in line with of the NHL’s agreements with other European countries.