Devils 2025 Cap Outlook: Salary Will Be on the Move
The New Jersey Devils need to make improvements this offseason but will have to move plenty of money to do so.
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I've mentioned the New Jersey Devils' cap space plenty over the last couple of weeks. That's because they need to improve the roster, and don't have much of it. They haven't even signed Luke Hughes to an extension yet.
We've also talked a bit about what the Devils need to do to open cap space, so I'd figure we'd look at the organization's cap outlook entering the offseason and what they could have to work with once free agency begins on July 1.
Hughes & Glass Will Eat Up Most of the Available Cap Space
I've talked about Hughes' extension plenty over the last few months, so there's no need to rehash everything again. Long story short, he's likely looking at an eight-year extension with a cap hit of around $8.5 million.
Without Hughes, the Devils have about $13.044 million in cap space. If his extension does come in at a cap hit of $8.5 million, that gives the Devils less than $5 million to work with ahead of July 1.
General manager Tom Fitzgerald can make some improvements with $4.5 million in cap space, but it'd likely be for a bottom-six forward or two who wouldn't move the needle all that significantly.
Hughes is the most expensive RFA the Devils have to sign, but chances are they want to bring Cody Glass back to be their fourth-line center. Glass won't be that expensive to re-sign; AFP Analytics has him signing a three-year deal at a cap hit of $2.903 million.
Still, that's more valuable cap space taken up, and leaves the Devils very little room to make improvements. Johnathan Kovacevic possibly starting next season on LTIR would give the team some cap flexibility at the outset, but it'd just be temporary. He will be back, so you won't have an additional $4 million to spend.
That's why you're likely to see a few players on the move this offseason. Fitzgerald hinted at as much in his end-of-season press conference, so what paths could he take?
Palát & Hamilton Would Free Up the Most Cap Space
The Devils won't bring back the same group of players because it's unlikely to make them much better than a 91-92 point team, even if Jack Hughes maintains his health and plays all 82 games.
Ondřej Palát is the most obvious candidate to move to free up cap space. He only has two years left on his contract, but it's an albatross, and he's unlikely to improve from here on out.
The Devils' best path to having the necessary cap space to improve their roster is trading Palát and Dougie Hamilton. I'd consider the latter unlikely, but trading both players would free up $15 million in cap space.
Let's say Hughes and Glass sign for their AFP projections. That brings the Devils down to around $1.85 million in cap space, so good luck making the necessary changes to the forward group.
If you clear Palát and Hamilton, Fitzgerald would have close to $17 million in cap space. He could bring in a high-end top-six winger, a capable third-line center who can move up the lineup if needed, and at least one effective bottom-six forward.
Moving Hamilton & Palát Is Not the Only Option
While trading Hamilton and Palát would give the Devils the most money necessary to improve their forward group, it's not the only path. On Friday, I wrote about four other contracts the Devils could move to free up the necessary cap space they need.
Erik Haula and Dawson Mercer are two prime candidates to move, in my opinion. Both players had disappointing seasons and have a combined cap hit of $7.1 million. Fitzgerald could add a couple of quality players for $7.1 million, especially if he trades Palát instead of buying him out.
I doubt the Devils would salary dump Mercer. If they trade him, it'll be for NHL talent in return. We don't yet have a good sense of who's available on the offseason trade market, but Jared McCann still seems like an ideal swap for Mercer.
McCann would give the Devils' top-six winger they're missing, and he can play center if needed. He has a $5 million cap hit and two years left on his contract, meaning it expires when Quinn Hughes is set to become a UFA. A Mercer for McCann swap would also essentially be a money-in-and-out deal, as the Devils would only add a net of $1 million to their books.
Clearing Palát, Mercer and Haula's deals would give the Devils an additional $13.1 million in cap space. Add Kurtis MacDermid to the mix, and it's just above $14 million. Fitzgerald can do some damage with $14.2 million more in cap space.
For those who don't think the Devils can trade Palát or Haula, NHL GMs willingly took on Barclay Goodrow and Jacob Trouba's contracts. The salary cap ceiling is rising to $95.5 million this summer, and Palát and Haula's NTCs become much less restrictive on July 1 (as does Hamilton's). There may be paths out for all players other than buyouts.
Expect Multiple Contracts To Be on the Move
There is the long-term cap outlook to worry about, especially if a pursuit of Quinn Hughes in the summer of 2027 (or earlier) is already on the back of the front office's mind. That's a discussion we'll have once we begin previewing free agency, but at least for this offseason, there isn't much cap space to work with.
Fitzgerald will have to shed salary, and I expect multiple contracts to be on the move, not just Palát's. That's what it will take to make the necessary improvements to the Devils' roster, so it should make for a busy next month or two.