Devils announce Press Conference for Tuesday announcing that Kovalchuk will return to NJ.

Update (1:03 p.m.) - Gulitti referenced a report from Russian hockey writer Dmitry Chesnokov that Kovalchuk's deal is worth more than $100 million and is spread over 17 years. There is still no conformation on whether the report is true or not, but apparently Kovalchuk's mother confirmed the length of the deal is correct.
Update (4:00 p.m.) - Dmitry Chesnokov of Puck Daddy is reporting the Kovalchuk deal to be 17 years, $102 million. Kovalchuk will earn $10 million in the first eight years of the deal, and then $7.5 million the next two years. The remaining $7 million will be spread over the next seven years.