First Things First: Devils Need to Clear Cap Space
The New Jersey Devils need to shed some salary before acquiring someone like Ryan O'Reilly. Who could they trade away?
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The New Jersey Devils appear to be busy on the trade market amid their five-game losing streak. They’ve been connected to Ryan O’Reilly and Steven Stamkos, among others, but there’s just one problem. They don’t have enough cap space.
Elliotte Friedman mentioned it on yesterday’s 32 Thoughts, but the Devils will have to be dollar-in and dollar-out to get any trade done in hopes of an upgrade. Let’s take a look at who they could move out for cap space.
Dougie Hamilton
Hamilton’s time in New Jersey has mostly been a success. He had the best year of his career in 2022-23 when he totaled 22 goals and 74 points in 82 games. He was instrumental in helping the Devils win 52 games, but injuries seem to have taken a toll on his game.
Hamilton suffered a torn pectoral muscle during the 2023-24 season, and he hasn’t quite been the same since. He finished with nine goals and 40 points in 64 games a season ago, a 51-point pace over 82 games, and has just eight points in 25 games this season.
Matt Dumba was never the same after tearing his pectoral muscle many moons ago, and with Hamilton turning 33 in June, it’s possible that’s accelerated what would be age-related decline.
To be clear, Hamilton isn’t washed up yet. He’s still a net-positive offensively and even defensively, but his impacts this season are not what we usually see from him:
Via BenchRates, Hamilton’s market value this season is around $3.4 million. It looks more and more like his best days are behind him, and with the Devils in desperate need of help up front, he seems like cap casualty candidate No. 1.
Hamilton has a modified no-trade clause, a list of 10 teams he’d accept a trade to. The obvious dumping ground is the Nashville Predators if they’re someone that’s on his 10-team list.
My gut tells me O’Reilly is the Devils’ top target, given the team’s desperate need for a center. I doubt the trade would be a one-for-one swap. There’d be other pieces going to Nashville, but acquiring O’Reilly and moving Hamilton would be a big win for general manager Tom Fitzgerald.
Even with acquiring O’Reilly, the Devils would free up $4.5 million in cap space, assuming nothing else is coming to New Jersey in a hypothetical trade. That would give them room to add a winger at some point or more flexibility for a possible Quinn Hughes trade down the road.
Either way, it feels like Hamilton’s time as a Devil is coming close to its end.
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