The New Jersey Devils will opt not to forfeit their 2012 first-round pick.
The club faced a 5pm et deadline on Tuesday to inform the NHL if they were going to give up this year's first-round pick as a penalty for signing Ilya Kovalchuk two summers ago, a move the league ruled as an attempt to circumvent the salary cap.
The league allowed the Devils to decide which year they would give up the pick - from 2011-2014 with notification due the day after the conclusion of the Stanley Cup Final.
The Devils also had to surrender a third-round pick in 2011 and were fined $3 million.
The Devils sit at No. 29 in this year's draft order.
The 2012 NHL Draft goes from June 22-23 and TSN has you covered from the Consol Energy Center in Pittsburgh. Watch day one from the Draft on TSN beginning at 7pm et/4pm pt.
Also, as part of TSN's countdown to the Draft, Hockey Insider Bob McKenzie will release his draft ranking on TSN, Monday at 7pm et/4pm pt. And don't miss the Countdown to Draft live on TSN, Thursday, June 21 at 7pm et/4pm pt.