from Craig Custance of The Sporting News,

A decision will finally be made on Ilya Kovalchuk’s latest contract.

Maybe. The league and the NHLPA agreed on a 5 p.m. ET Friday deadline, one that is fast approaching, and one that will reveal whether the league will approve the 15-year, $100 million contract the New Jersey Devils have submitted.

That is unless, of course, another extension is granted. And that appears to be a possibility as the sides work to negotiate parameters in which long-term contracts will be approved moving forward.

“They’re trying to work something where everybody will win,” an NHL source told Sporting News. “It’s possible both sides are going to come out looking good.”

It’s a definite temperature change from Wednesday evening when the New York Post reported that an ultimatum was issued by the league to the players, saying it would approve the Kovalchuk deal only if specific rules were put in place regarding future long-term contracts.

The league was quick to deny issuing any ultimatum.

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