well according to Jay Grossman of the Atlanta Journal Constitution this morning there is a report of what kovy is "asking for".  supposedly and insanely he is asking for the max 20% of the cap or 11.3 mil a year on a 10-12 year deal.
"The Atlanta Journal Constitution says that Kovalchuk and his agent Jay Grossman are asking for the maximum amount under the CBA. That would be $11.3 million per season over a 10-12 year deal. The paper says that Atlanta’s offers have been close to or over $10 million but over shorter terms."

Larry Brooks on the other hand tweets about the cost of Kovy:

"Source: price of NYR rental of Ilya is Staal or DelZotto+Callahan or Dubinsky+Kreider or Stepan or Grachev+first rounder=No deal."

Not that often where i agree with Larry, but for that price i have to say no.  At a minimum (meaning which of the "or" options i would trade first) it's cally, kreider, a 1st and staal or mdz for a rental and in the deal we dont clear any cap space to actually sign him regardless if he wants that insane money the AJC is reporting.