According to E.J. Hradek, Devils were contacted by the NHL when the NHL got wind of the offerto let Jersey know the contract would be rejected long before Kovy agreed to it. According to this article:
The Devils apparently went through with their press conference in order to seal their position and set in motion the chain of events that will likely lead to arbitration, which is expected to force the NHL to accept and register the deal.
Whoa. Ballsy, stupid, or both?