SOURCE: NO ULTIMATUM ISSUED BY NHL IN KOVALCHUK CONTRACT SAGA

As the Ilya Kovalchuk contract drama continues to spin, there is a new twist, with the New York Post reporting that the NHL has issued an ultimatum to the NHLPA regarding front-end heavy contracts - specifically Kovalchuk's deal with the Devils, Roberto Luongo's with Vancouver and Marian Hossa's with Chicago.

On Wednesday, league sources told TSN that no ultimatum had been issued, but the NHL and NHLPA did agree to extend the deadline for a decision on the Kovalchuk deal until Friday at 5pm et.

While the source told TSN that there were some elements contained in the Post report that had been discussed, neither side feels any sense of pressure from the other.

The Player's Association say that they continue to negotiate with the league in an effort to deal with the issues that have plagued long-term contracts and they say that discussions are ongoing.

The Post reported that the NHL had told the NHLPA that it would grandfather the Kovalchuk, Luongo and Hossa deals under two conditions:

1. "That the cap hit on future multi-year contracts will not count any seasons that end with the player over 40 years of age. The cap hit would be calculated on the average of the salary up through age 40 only."

2. "That the cap hit on future contracts longer than five years will be calculated under a formula granting additional weight to the five years with the highest salary."

If the NHLPA does not accept these, the Post reported that the NHL would reject the Kovalchuk contract, start the process of doing the same to Luongo's deal, and open an investigtion in the Hossa deal.

It may not be that bold of a statement, but for a team that finished 29th out of 30 NHL squads last season, it's certainly a start.

Maple Leafs captain Dion Phaneuf said the team's objective for the 2010-11 campaign is to advance to the post-season.

"It's definitely a playoff team. Our goal going into the start of this year is to make the playoffs," said Phaneuf. "Anything short of that is unacceptable. We did a lot of good things at the end of last year, played some really good hockey, and with the additions we made over the summer, our goal definitely is to make the playoffs."

Phaneuf, the 25-year-old blueliner who was traded to Toronto from the Calgary Flames back in January, said the Leafs have been able to develop some chemistry and are pleased with the momentum and fresh faces on the roster heading into the new season.

"We learned a lot as a group. We're going to take what we learned, move forward and use that as experience going into this year," Phaneuf said. "We know that we have to get off to a good start and we're going to be a hard-working team night in and night out."

Leafs GM Brian Burke didn't make any concrete predictions or guarantees either, but he said he was happy to see healthy optimism from his roster.

"We use the 'P' word and it sets people off in this marketplace," Burke said. "That's our goal, that's our intention, no bold statements but for a player to say that I think is great."

So, after five straight seasons without a visit to the playoffs, there are no promises to bring home Lord Stanley's silver, nor are there any guarantees that the post-season is a lock, but the Leafs have said that hockey beyond the 82-game regular season schedule is their mission for this year.

It's a goal, and the Leafs will need more of those this year, as they tied for the fourth-least tallies in 2009-10 with 214.

The team finished 30-38-14, and their 74 points put them above only the Edmonton Oilers in the NHL standings.

The blue and white's season kicks off on October 7 against the Montreal Canadiens in Toronto.