According to a report from Tom Gulitti of the Bergen Record, the New Jersey Devils will not surrender their first-round pick in the 2012 NHL Draft.
New Jersey faced a Tuesday deadline to inform the League if this would be the year in which the club gives up its first-round pick for salary-cap circumvention in signing Ilya Kovalchuk as a free agent two summers ago.
Under the terms of the punishment, New Jersey must relinquish its first-round pick between 2011 and 2014. The club kept last year's pick and selected defenseman Adam Larsson.
Now, it appears the Devils will keep their pick for this year, which sits at No. 29 because of the club's surprising run to the Stanley Cup Final. New Jersey lost in six games to the Los Angeles Kings in a series that ended Monday night.
New Jersey originally held the 22nd pick, but dropped after its strong postseason run.
New Jersey also was fined $3 million by the National Hockey League and had to surrender a third-round pick in 2011 as part of the Kovalchuk punishment.
The 2012 NHL Draft is June 22 and June 23 at Consol Energy Center in Pittsburgh.