The New Jersey Devils are now in the 2025 offseason. As tough decisions will be made by the team, this post goes over the team’s salary cap and roster situations ahead of free agency on July 1, 2025.
On Thursday, May 8, New Jersey Devils General Manager Tom Fitzgerald made it clear in his press conference: “We won’t be coming back with the same group, I could tell you that, ‘cause it wasn’t good enough.” With the New Jersey Devils firmly in their offseason, tough decisions will have to be made in order to make changes to the group. They are bound by the salary cap, the roster they have committed to, and the pending free agents. Now is a perfect time to take a look at the team’s salary cap and roster situation ahead of further offseason activities.
A Summary of the New Jersey Devils Salary Cap
According to PuckPedia as of May 10, Devils have approximately $83.46 million committed to 38 contracts for the 2025-26 season. With the NHL salary cap ceiling set for $95.5 million for 2025-26, the Devils have approximately $12.04 million in cap space for free agents this Summer.
However, this number is based on the active roster that was last with the Devils who are signed through 2025-26. This includes the likes of Seamus Casey ($0.95 million), Simon Nemec ($0.9183 million), and Nico Daws ($0.8125 million). Demoting Casey and Daws, for example, would increase the cap space up to $13.8025 million. Given that the Devils have been spending to the salary cap ceiling for several seasons now, an extra $800,000 to play with is nothing to ignore. Of course, if the Devils decide to bring up other non-roster players such as the recently signed Arseni Gritsyuk ($0.925 million) or Lenni Hämeenaho ($0.95 million), then the salary cap space would be reduced. This is all to say that $12.04 million is a number that could fluctuate or reduce a bit in either direction.
The amount of space is largely driven by the salaries committed to New Jersey for next season. They received a tiny boost with Ilya Kovalchuk’s cap recapture penalty ($0.25 million) ending and Trent Frederic’s salary retention ($0.575 million) being done with. They took a hit with performance bonus overages worth $1 million, which is not ideal. Most of all, the current cap space of $12.04 million at PuckPedia presumes that none of their pending free agents are signed. That will obviously change before July 1, 2025 when free agency begins and contracts begin anew.
The Pending Free Agents from New Jersey for the 2025 Offseason
The free agents coming out of New Jersey are as follows. Players with a (U) were mostly in the AHL in 2024-25.
UFA Goalie: Jake Allen
UFA Defensemen: Brian Dumoulin, Dennis Cholowski, (U) Tory Dello
UFA Forwards: Tomas Tatar, Nathan Bastian, Curtis Lazar, Daniel Sprong, Justin Dowling, (U) Max Willman, (U) Sam Laberge, (U) Marc McLaughlin
RFA Goalie: (U) Isaac Poulter
RFA Defensemen: Luke Hughes, (U) Santeri Hatakka
RFA Forwards: Cody Glass, Nolan Foote
The biggest name among this year’s group of pending free agents is Luke Hughes. His absence was massive in the playoffs against Carolina as #43 demonstrated the skillset shown by his older brother Quinn, Zach Werenski, Adam Fox, Cale Makar, and Rasmus Dahlin. Each of them dominant from the backend with the puck, without the puck in all three zones, skate quite well, and get paid incredibly well. Surprisingly, no one really asked about contract negotiations with Luke Hughes in the May 8 presser. His next contract could be (and should be) large. That alone will eat a lot into the Devils’ $12.04 million projected cap space for 2025-26. I will leave projections on Luke Hughes’ next deal for others to discuss in depth in a separate post. But it will not be cheap. Related to how much space Luke Hughes’ next contract will take up is also when the deal will even be made. If I were GM Fitzgerald, the money is earmarked until it is done if only so other business could be made.
As far as the other names mentioned in the May 8 presser, Fitzgerald did say he would discuss matters with Jake Allen. He was tremendous as a backup goalie to Jacob Markstrom and played admirably in the net when Markstrom was unavailable or struggling. I got the sense from the May 8 press conference that if money was not an issue, Allen would return. However, money could very well be an issue between all of the things Fitzgerald may want to change. His answer to a question on Brian Dumoulin was appreciative of what he did, but his “never say never” gave the impression that bringing him back on a new contract would be difficult. Especially in light of a potential return to form for Simon Nemec.
As for most of the other free agents, expect the UFA forwards to walk. Fitzgerald lamented the depth scoring and called it underwhelming. When he said that he would not return with the same group, that was an easy group to identify. With most of them able to just hit the market on July 1, that part is easy. Finding players to pay close to the league minimum is possible. Finding the right ones to be effective will be a challenge.
The minor-leaguers are unknown. They will not impact the Devils books unless they are called up to the NHL. Utica had a rough season that started with a terrible losing streak and a change in coaches. It is common at the AHL level for veterans to move from team to team in the hopes for an opportunity. It is also common for NHL teams to offer NHL contracts to provide that possibility. Older AHLers like Max Willman may move on. Younger ones like McLaughlin and Hatakka may stick around a little longer. Nathan Légaré did and so he was re-signed quickly. Building a better Comets team is not a main priority of the organization, but it is something management will do as part of this offseason as assistant GM Dan MacKinnon oversees that aspect of the business.
A Quick Refresher of Free Agency
There are two main types of free agents: restricted free agents (RFA) and unrestricted free agents (UFA). Under the current NHL CBA, players with at least 7 seasons of pro experience or are at least 27 years old – whichever comes first – will be unrestricted free agents when their contracts end on July 1 of that year. This means they can negotiate and sign with anyone on July 1 of that year. That is why that date is Free Agency Frenzy. Teams can negotiate with pending UFAs before then, but if they are not signed by July 1, then they are free for anyone. (Aside: There is a Group 6 exception for players who have not played a certain number of games after turning professional. Only Marc MacLaughlin fits that criteria for this year, so he is a UFA at age 25 with 4 seasons of pro hockey.)
RFAs have more going on with them. Teams can maintain control of the player by tendering them a qualifying offer. This is 100% or 105% of their previous season’s salary depending on their experience and age since their first deal. Without a qualifying offer, the RFA can become an UFA on July 1 and anyone can go sign them. With one tendered, the RFA can only get a new deal from his original team. For this year, qualifying offers are due by June 30 (it is either June 25 or the Monday after the NHL Draft, whichever is later).
This is not to say that once an offer is tendered then the team can offer a contract entirely on their own terms. Depending on a RFA’s experience and their age of their first contract, they may be eligible for arbitration. Filing for a hearing can basically force the team to negotiate a deal before it goes to an independent arbitrator to decide one. Additionally, a RFA could sign an offer sheet from another team. This is not common as it requires the player to sign the offer sheet, the offer sheet is not negotiable, the player’s original team has the right to match the offer sheet, and if they do not match it, the team making the offer has to give the original team draft picks they own based on a scale of compensation. There are a lot of hoops to jump through to offer sheet a RFA. That said, St. Louis used it to great effect last Summer with Philip Broberg and Dylan Holloway. Fitzgerald did state in the May 8 presser that he expects more of them to be issued.
That said: not every RFA is eligible for an offer sheet. A player who signed their ELC between the ages of 18 to 21 must have 3 years of professional experience, as defined in the CBA as 10 or more NHL games played in a season, to qualify for such a status. While Luke Hughes began his first ELC season in 2022-23, he only played in 2 games (and 3 playoff games). This meant his contract started but he did not have a full year of professional experience. Luke Hughes is a RFA who is not eligible for an offer sheet. Other teams can go after Cody Glass, Nolan Foote, Santeri Hatakka, and/or Isaac Poulter instead.
Teams are allow to go above the salary cap ceiling by 10% in the offseason. However, all teams must be cap compliant prior to the start of the regular season. Based on the May 8 press conference, Fitzgerald confirmed that Kovacevic will not be ready for training camp. However, that does not mean he will miss the start of the season or that he will immediately go on Long Term Injured Reserve.
I believe waivers are not invoked until training camp. Exemption from waivers are based on the player’s age when they signed their first contract and how many NHL season games they have played. It has nothing to do with contract or free agent status. This will be more of a concern when preseason begins and teams make cuts from their roster.
There is one more tool that a team can do to pay a player without eating as much cap space: deferred compensation. It does not happen often but Carolina employed it in 2024 with Seth Jarvis and Jaccob Slavin. It is something to keep in mind but it is not worth expecting.
Trades can and do happen. They generally happen around the time of the NHL Draft, which is close to the July 1 day for free agency. Players who are about to become UFAs on July 1 may get moved just for a team to negotiate ahead of July 1. Such deals are usually not that significant. But some significant ones can happen, such as the Devils’ acquisitions of Vitek Vanecek and Jacob Markstrom in recent seasons. With the NHL Draft being decentralized for 2025, the management groups of 32 teams will not be around each other in person for deals to be discussed in person. Communication always happens, but the lack of face-to-face time may prevent some deals that would have been made earlier. We shall see.
Lastly, the minimum salary for a NHL player in 2025-26 is $775,000. If a player is not re-signed, it will cost at least that much to replace them.
Contract Changes for 2025-26
While the Devils will have players coming out of contract, July 1 is a big day for everyone in the NHL. It is the start of the next season. This means anyone with a signing bonus for the 2025-26 season has it paid out on July 1. Trade clauses can change on July 1. Contract extensions can begin on July 1. With that, here is what is changing for New Jersey in 2025-26:
- Ondrej Palat will have a 10 team trade list in addition to his No Movement Clause, which prevents him from being demoted to Utica. The 10 team trade list means those are the teams Palat will accept a trade to without waiving anything. Palat and his agent must submit that list.
- Erik Haula’s full no trade clause turns into a 6 team no trade list. This means that Haula and his agent must submit a list of six teams he will not accept a trade to without waiving the clause.
- Dougie Hamilton will have a 10 team trade list in addition to his No Movement Clause, which prevents him from being demoted to Utica. It is just like the change to Palat’s clauses.
- Jonathan Kovacevic’s contract extension begins on July 1. His new cap hit will be $4 million per season and it starts with a full no trade clause for 2025-26. That clause will change in two seasons for 2027-28.
- Nico Daws has a one-way contract for 2025-26. He will be paid $850,000 for the season no matter where he is tending the net.
- ELCs will begin for Arseni Gritsyuk, Lenni Hämeenaho, Shane Lachance, and Ethan Edwards.
- Xavier Parent’s two-way NHL contract will also begin on July 1, 2025.
By the way, the Devils still have a lot of players on trade clauses. Timo Meier, Jesper Bratt, Palat, and Jacob Markstrom all own no movement clauses. If the no movement clause is by itself, then it acts as a full no trade clause. If there is a trade clause like a trade list for Palat and Hamilton, then the NMC just prevents demotion. Brett Pesce and Brenden Dillon have full no trade clauses. Nico Hischier, Stefan Noesen, and Jonas Siegenthaler have 10 team no trade lists for a partial no trade clause. It may be shorter to list the Devils signed for 2025-26 without any clause: The Big Deal, Dawson Mercer, Kurtis MacDermid, Paul Cotter, Casey, Nemec, and Daws.
The Needs of the Devils for this Offseason
Depth scoring was such a major topic at the press conference on May 8. The lack of effective depth forwards at all undercut the Devils’ efforts against Carolina as well as in many other games in the 2024-25 season. Fitzgerald called it “underwhelming” and while I would disagree to a point on that, I would agree the bottom six forwards of the Devils were largely ineffective. That will definitely be a target for the Devils.
More specifically and more boldly, they need centers. The Big Deal and Hischier are high-end players who can play and produce against anyone. After them, the center position was thin on quality for the Devils. Erik Haula struggled for most of the season. Cody Glass showed initial spark after being acquired but wilted in the playoffs. Justin Dowling and Curtis Lazar were veterans who were more or less guys at the position. The team still wants to try Dawson Mercer as a pivot out of necessity. The Devils needed centers. The need only multiplied when either Hischier or Hughes was injured. The Devils still need quality centers to provide quality depth.
I will also add that adding more offensive talent to produce would be a need in general for the team. It is not just the bottom six that struggled to produce much of anything. The team got limited contributions from Palat, Haula, and Mercer. Throw in cold streaks from Timo Meier and the offensive production really was carried by a few forwards and a standout power play in the regular season. This was magnified further in the playoff loss to Carolina. This also includes the blueline, which badly missed Luke Hughes, appreciated Simon Nemec, and wished Dougie Hamilton was in full form against the Canes. The Devils can certainly defend, but the game requires everyone to move the puck out after getting the stop on defense. The Devils could use that, but they may have those answers internally with Nemec and Casey. They just need to give them space. If they do not trust them yet, then adding a vet as a #7 or #8 defender could be had.
They also need to make a decision on Allen and Daws. The cheaper option is to go with Daws and hope he is a quality #2 goalie under the tutelage of David Rogalski. Past experiences were not at all encouraging, but that was then and this is now. The quality option is to pay Allen. How much he wants combined with Luke Hughes’ extension could take up almost all of the $12 million in space the Devils have. But quality goaltending is worth its wait in gold and it helped keep a Devils team treading water in the second half of the season instead of outright drowning.
Making More Room
The Devils could stand to make some more cap space to satisfy their needs. Or to be even bolder and bring in former Norris Trophy winner and legitimate game changer Quinn Hughes to Newark. Something Steve Politi and some of the People Who Matter want to see happen sooner rather than later. I think it can wait a year, but if the relationship for Quinn is that bad with Vancouver, then it suits the Devils to take advantage now. Of course, this means adding Quinn Hughes’ contract at $7.85 million. The Devils will not have the room to re-sign Luke Hughes, get replacements for the free agents they will walk, and get Quinn.
Of course, the Devils could just let Quinn stew in British Columbia. It will still be very tight to re-sign Luke Hughes and use the remaining money on replacements for the players they will let go. If the intent is to get a better group with better depth, then that is going to cost more than $775,000 per player. It would be very difficult to have multiple NHL league minimum paid players to overachieve their contracts. This means more money is needed and that would require more room to be made under the cap.
They have three ways to make some more space.
The first is to trade Devils. Something they would need to do to get Quinn Hughes before 2027. The deal alone could make the space needed to make the addition and leave the original $12.04 million in space for other signings. It could even add space depending on the details of who is moved. Even if the Devils do not go for Quinn, they could dangle, for example, Mercer and his $4 million cap hit in a deal to make space.
The second is to bury a Devil’s cap hit in the minor leagues. This can and should be done with Kurtis MacDermid. His cap hit matches the threshold for buried cap hits in the AHL. This means he can go to Utica to get off the books and the Devils clear $1.15 million. That opens up a spot on the roster as well as the cap for a hockey player.
The third is to buy out Devils. Ondrej Palat is a popular name for this. I will go into way more detail about this in a post later this week. I will concede that, yes, Palat is a legitimate option for this. He is not the only one.
Your Take
The Devils’ situation to improve the roster is possible but it will require some real work and even some creativity. The cap and roster situation is not as flexible as it was in the past. Re-signing Luke Hughes is crucial and will eat up a lot of the roughly $12 million cap space the Devils have. The remainder of that space needs to be used efficiently. And the Devils really should consider making some decisions that could free up some more space to work with. It will not be easy. The roster has plenty of players on clauses that prevent some possible moves. The Devils cannot stand still on that roster; the needs are apparent with depth scoring, depth players, and especially centers. I want to believe Fitzgerald and Sheldon Keefe when they stated how “average” last season ended up and that they want to do better. It is now on management to get the players for the coaching staff to ice a better Devils team. Which is what we all want.
Now that you know what the Devils’ cap and roster situation looks like going into this offseason, I want to know what you think. How would you handle this if you were in the front office with Fitzgerald? Would you look to make space first and then re-sign players? The other way around? Make moves as they are needed? What bold moves would you take to address the team’s needs? Please leave your answers in the comments. We will be focusing more on the pending free agents from the Devils as well as free agents possibly hitting the open market on July 1 in the coming weeks. This post serves as a prelude for all of that. If you have any other questions, then please ask them in the comments as well. Thank you for reading.