Kovalchuk was sixth in the NHL during the 2011-12 season with 37 goals and fifth with 83 points, and had 19 points in 23 games to help the Devils reach the Stanley Cup Final, despite playing through a back injury.
A native of Tver, Russia, Kovalchuk played for Spartak Moscow before he was chosen by the Atlanta Thrashers with the first pick of the 2001 NHL Draft.
I'm very excited about what happened today. We've worked on this deal with Toronto for a month, or over a month. It got a little bit of legs on draft day, but it really heated up last night, and we were able to complete the deal today.
— Penguins GM Jim Rutherford on Phil Kessel, who he acquired from the Maple Leafs in a trade on Wednesday