Salary Cap Deep Dive: New Jersey Devils
Navigating the salary cap is one of the more important tasks for any GM. Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful. Those that don’t see struggles and front office changes.
PHR will look at every NHL team and give a thorough look at their cap situation for the 2023-24 season. This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.
New Jersey Devils
Current Cap Hit: $82,601,228 (under the $83.5MM Upper Limit)
Entry-Level Contracts
F Alexander Holtz (two years, $894K)
D Luke Hughes (two years, $925K)
F Dawson Mercer (one year, $894K)
D Simon Nemec (three years, $918K)
G Akira Schmid (one year, $851K)
Potential Bonuses
Holtz: $850K
Hughes: $925K
Mercer: $400K
Nemec: $3.25MM
Schmid: $57.5K
Total: $5.4825MM
Holtz has progressed to the point of being a regular player but it has been in somewhat of a limited role so far. Basically halfway through his entry-level deal, it seems unlikely that he’ll dramatically improve to the point where he’ll bypass a long-term contract in 2025. A short-term deal in the $2MM range seems likely while bonus-wise, he’ll need to produce a lot more to have a shot at reaching them. The same can’t be said for Mercer who has a couple of strong seasons under his belt although his 2023-24 numbers are certainly down. Nonetheless, GM Tom Fitzgerald may still want to look into a long-term deal that could approach the $6MM mark while a bridge would be a bit more than half of that. Like Holtz, his bonuses are unlikely to be reached at his current pace.
Hughes did well in limited action down the stretch and in the playoffs last year and has locked down a full-time spot this season, playing top-four minutes. He’s expected to be a core piece for years to come so it wouldn’t be surprising to see Fitzgerald try to push for a long-term agreement after 2025. Such a deal could push past the $7MM mark if he produces as expected. As things stand, he has a chance at hitting a handful of his ‘A’ bonuses, worth $212.5K apiece. Nemec, meanwhile, was recently brought up and is just getting his feet wet at the NHL level. He recently went past the nine-game mark, meaning he’ll burn the first year of his deal this season. It’s too early to forecast his next contract but it’s worth noting that he’s unlikely to reach his bonuses.
As for Schmid, he made a big impact down the stretch last year, taking over as the starter. Things haven’t gone anywhere near as well this season as he has struggled considerably. He could still be a goalie of the future for New Jersey but with the inconsistency, he should be heading for a bridge deal that should check in under $2MM. His bonuses are based on games played so it’s likely he’ll hit some of that amount even though he’s currently in the AHL.
Signed Through 2023-24, Non-Entry-Level
F Tyler Toffoli ($4.25MM, UFA)
F Michael McLeod ($1.4MM, RFA)
D Colin Miller ($1.85MM, UFA)
F Tomas Nosek ($1MM, UFA)
D Brendan Smith ($1.1MM, UFA)
F Chris Tierney ($775K, UFA)
Toffoli wasn’t able to reach an early extension in Calgary and was quickly moved to New Jersey despite coming off of a career year. He is producing at a similar rate this season and if he can hold that up, he should be one of the better free agent wingers. Last time in free agency, his market was a bit quieter than expected but he should be able to push past the $5MM mark on a longer-term agreement. McLeod is on pace for his best offensive season and has been elite at the faceoff dot. With arbitration eligibility, he could push for $2.5MM or more should it get to a hearing if he remains one of the top faceoff specialists in the NHL and keeps up this level of production.
Nosek had to wait a bit to get this contract, one that was a $750K dip from his last deal. With this season being injury-plagued so far, he’s going to be hard-pressed to earn a raise even with his track record of being an effective fourth line middleman. Tierney came over in free agency on a two-way deal and has earned a full-time spot on the roster. Even so, he’s likely to remain around the minimum salary moving forward.
Miller had a quiet year in Dallas last season and the change of scenery hasn’t worked out the greatest; he has dealt with an injury and has been healthy scratched at times as well. While he has a bit of offensive upside and is a right-shot defender, it’s possible he’s heading for a small dip in salary. Smith can still hold his own on a third pairing and has shown previously that he can play up front if need be as well. While he’ll be 35 next month, he could still land a contract close to this price tag.
Signed Through 2024-25
D Kevin Bahl ($1.05MM, RFA)
F Nathan Bastian ($1.35MM, UFA)
F Curtis Lazar ($1MM, UFA)
G Vitek Vanecek ($3.4MM, UFA)
Bastian has been a bit quieter offensively this season compared to his last two years but he is holding down a regular spot on the fourth line. He’ll be hard-pressed to get any sort of significant raise unless he can get back to his production since starting his second go-round with the franchise. Lazar is in his first full year with the Devils after being acquired from Vancouver. He’s a serviceable fourth line center and it’s likely his next deal will come in close to this one.
Bahl is in his first full season and is holding down a regular spot on the third pairing. It’s unlikely he’ll move up in the lineup too often but even if he just stays in that role, he should get at least a small bump beyond his $1.2MM qualifying offer.
It has been an interesting first half of Vanecek’s contract in New Jersey. Acquired to take over as the starter in the 2022 offseason, he had the best year of his career, getting into 52 games while posting the lowest GAA of his career (2.45) and the highest save percentage (.911). And yet, when the playoffs came around, he wasn’t the starter and when he got his chance, he struggled mightily. That has carried over to his play this season. Value-wise, Vanecek only needs to be at the level of a good backup to provide value on his deal. He has been well above that at times and well below it at others. He’ll need to show some consistently strong performances in the next year and a half to set himself up for a bigger deal in free agency. If he can, he could push past the $5MM mark.
Signed Through 2025-26
F Erik Haula ($3.15MM, UFA)
Haula fit in quite well as an above-average third center last season, resulting in a reasonably-priced extension back in June. He only has three seasons with more than 40 points under his belt which limited his market in his previous trips through free agency. If he can stay around that mark in each of these three years, he’ll have a lot more bargaining power next time out.
Halonen Activated Off Of SOIR, Assigned To AHL
- The Devils announced (Twitter link) that they’ve activated forward Brian Halonen off of season-opening IR and assigned him to AHL Utica. The 24-year-old is in the second and final year of his entry-level contract and had 17 goals and 13 assists in 57 games with the Comets last season. Since Halonen wasn’t in the NHL at any point last season, he did not count against the cap while on SOIR.
Metropolitan Notes: Pacioretty, Bear, Cizikas, Lazar, Penguins
5:30 PM: Curtis Lazar has been declared ‘out’ for Friday.
5:00 PM: The Washington Capitals will have to wait a little longer for the highly-anticipated debuts of newcomers Max Pacioretty and Ethan Bear, with both players set to sit out of the team’s Friday night game. Both players signed with the Capitals during their recovery from injury, with Pacioretty coming back from his second Achille’s tendon tear and Bear recovering from a shoulder surgery required after taking a big hit during the 2023 World Championships.
Pacioretty joined Washington this summer, signing a one-year, $2MM contract with the club on July 1st. Pacioretty only appeared in five games last season, although he did manage three goals. His 2021-22 season didn’t last for much longer, only seeing 39 games and 37 points. We have to go back to the 2019-20 season to find the last year that Pacioretty appeared in 50 or more regular season games. That year was his second with the Vegas Golden Knights and saw the 855-game veteran record 32 goals and 66 points in 71 games.
Bear’s injury struggles haven’t been as long-running, with the defender managing 61 games with the Vancouver Canucks last season. He scored 16 points through that stretch, marking the second-most points he’s scored in his career, behind his 2019-20 season which saw him net 21 points in 71 games with the Edmonton Oilers. Washington will become the fourth organization that Bear has been apart of through his five-year NHL career, which has been split evenly between two Pacific Division and two Metropolitan Division teams.
Other Metropolitan Division Notes:
- Casey Cizikas (illness) is listed as a game-time decision for the New York Islanders’ Friday night matchup against the Washington Capitals. Czikas was a full participant at the team’s morning practice, suggesting he’s trending in the right direction. The 32-year-old forward has played in 34 games with New York this season, recording 10 points and 14 penalty minutes.
- Curtis Lazar is also a game-time decision, with New Jersey Devils head coach saying the team will see how Lazar feels after the team’s morning practice before making a call on his availability. Lazar has appeared in 30 games this season, netting four goals and 10 points. The Devils’ Friday night game will also mark Kevin Bahl’s 100th NHL game, with the young defender inviting his billet family to the bout with the Ottawa Senators.
- Bryan Rust and Jesse Puljujarvi are both trending in the right direction, skating as full participants at the Pittsburgh Penguins’ Friday practice. Rust is currently on injured reserve and is eligible to return on January 2nd, while Puljujarvi is still waiting for his first NHL game since undergoing double hip surgery. Matthew Nieto and Radim Zohorna missed the team’s practice, with Zahorna left at home due to illness.
Trade Market Heating Up For Jake Allen
Speaking last night on NHL Network, David Pagnotta of The Fourth Period reports that the trade market is heating up considerably around Montreal Canadiens goaltender, Jake Allen. With plenty of competitive teams dealing with poor play and injuries between the pipes, Allen has been an oft-rumored trade candidate throughout much of the year.
In the report, Pagnotta indicates that before the roster freeze went into effect on December 19th, the Carolina Hurricanes, Edmonton Oilers, and New Jersey Devils had all made contact with Canadiens’ brass to gauge the price tag on Allen. With another year left on his contract after this season, Allen’s salary is set at $3.85MM, meaning any acquiring team will likely need to move around funds to acquire him.
At any rate, all signs indicate that Allen’s career in Montreal is coming to an end, as the organization appears comfortable moving forward with Sam Montembeault as the start, and Cayden Primeau serving as the primary backup. In 12 games this season, Allen has produced a very modest 4-6-2 record, carrying a .907 SV% and a 3.43 GAA.
Even though Allen had seen his name pop up in rumors dating back to last summer, the Canadiens handed a three-year, $9.45MM contract extension to Montembeault, effectively ending any chance that Allen would stay in Montreal beyond this season. Even aside from both Montembeault and Primeau already on the NHL roster, the team is still prepared to introduce 2023 draft pick, Jacob Fowler, within the next several years.
It is more than reasonable for all three teams mentioned to be interested as Carolina, Edmonton, and New Jersey are tied for last place in the NHL in SV% as a team, sitting a .879. Currently, Carolina is the only one of the three currently in a playoff position, sitting in the top wild-card spot in the Eastern Conference, while both Edmonton and New Jersey are on the outside looking in.
Regardless of interest, it will be more difficult to ascertain the price point for Allen, given his current contract and his status as a backup goaltender. With teams having less financial ability during the season, the last time a similar goaltender was traded was on September 19th, with the Canadiens shipping Casey DeSmith to the Vancouver Canucks for Tanner Pearson and a third-round selection in the 2025 NHL Draft.
If Allen does ultimately end up with one of the three teams listed by Pagnotta, all three of them will likely need to move salary the other way, as currently, none would be able to assume the contract of Allen outright.
Devils Send Akira Schmid To AHL
The Devils assigned netminder Akira Schmid to the AHL’s Utica Comets on Thursday, according to a team release.
Most expected the Devils to make a move to shake up their crease, but few expected the team to demote last year’s breakout performer between the pipes. Schmid, 23, logged a .922 SV% in 18 appearances in 2022-23, usurping Mackenzie Blackwood for the backup job behind starter Vítek Vaněček by season’s end. The Swiss goalie even stole starts from Vaněček in the postseason, starting eight of New Jersey’s 12 playoff games while recording a .921 SV% and two shutouts. It became clear by the summer that Schmid had secured the backup job behind Vaněček this season, leading the Devils to part ways with Blackwood and trade his signing rights to the Sharks.
Both Schmid and Vaněček have failed to recapture last season’s strong play, however. The Devils’ .888 team SV% is near the bottom of the league, and it’s almost singlehandedly keeping them out of a playoff spot after finishing with 112 points last season.
Even though he’s been below average, Schmid’s numbers are far superior to Vaněček’s this season. In 15 appearances (13 starts), he’s posted a .893 SV% and conceded -3.8 goals saved above average compared to Vaněček’s .885 SV% and -10.2 GSAA in 22 appearances (20 starts).
Choosing to send down the better of your two goalies will certainly raise some eyebrows, but short of trading Vaněček, it’s the only choice Devils GM Tom Fitzgerald had at his disposal to try and improve their goalie situation in the short term. Waiving Vaněček would destroy his trade value as the team continues to browse the market for upgrades, while Schmid can head to Utica without needing waivers.
Last season in Utica, Schmid went 11-7-4 with a .905 SV%, 2.62 GAA and two shutouts in 23 games as he bounced between leagues.
The team now turns to 23-year-old Nico Daws to see if he’s ready for full-time NHL play. New Jersey recalled him yesterday after he posted a 2.39 GAA and .929 SV% in three starts with Utica this month. The 2020 third-round pick missed the first two months of this season after undergoing hip surgery over the summer.
Daws has not made an NHL appearance since the end of the 2021-22 campaign when he made 25 appearances for a Devils team plagued by injuries between the pipes that season. Behind veteran Jonathan Bernier, who played ten games before sustaining a career-ending hip injury, Daws was the best of the other six goalies who suited up for the Devils that year with a 10-11-1 record and .893 SV%. Those still weren’t standout numbers for a team that had decent defensive stats, but he’ll lean on that experience now as he gets another NHL shot. He will presumably start one of the Devils’ upcoming back-to-back road games against the Senators and Bruins to wrap up 2023.
Curtis Lazar Out Day-To-Day
- New Jersey Devils forward Curtis Lazar is “a bit banged up” according to team reporter Amanda Stein, and head coach Lindy Ruff says he’s out day-to-day. A hard-working bottom-six winger for New Jersey, Lazar has scored 10 points in 30 games this season and plays a secondary role on the team’s penalty kill. With Lazar out the Devils appear to be slated to run seven defensemen, although the team could also opt to have veteran Chris Tierney fill Lazar’s role while Lazar is out.
- After a scary-looking abdominal injury, it appears veteran forward Sean Kuraly has avoided a significant absence. The Columbus Blue Jackets announced today that Kuraly would miss tonight’s game against the Devils, but that his status is considered day-to-day. That’s encouraging news for the penalty-killing specialist, as at first glance it seemed unlikely he would miss such a brief amount of time.
Devils Recall Nico Daws
The Devils recalled goaltender Nico Daws from the AHL’s Utica Comets Wednesday morning, a team announcement states.
Daws, 23, is with the Devils at their morning skate ahead of tonight’s game against the Blue Jackets. There is currently no injury designation for projected starter Vítek Vaněček or backup Akira Schmid. However, Vaněček has been sidelined on a short-term basis with an undisclosed injury multiple times this season, which caused him to miss a December 17 contest against the Ducks. Per the Star-Ledger’s Ryan Novozinsky, both Schmid and Vaněček are present alongside Daws at today’s morning skate.
If either Vaněček or Schmid cannot play tonight, Daws will dress as the backup. He has not made an NHL appearance since April 16, 2022, his last of 23 starts in the 2021-22 campaign.
Daws is still a promising young prospect, but Schmid lapped the German-born Canadian on the team’s depth chart last season. He was already pushed down further by the team’s acquisition of Vaněček in the summer of 2022. After recording a .904 SV% and 16-14-3 record in 33 games with Utica last season, Daws required offseason hip surgery that kept him out of action until early this month.
Once healthy, the Devils assigned Daws to Utica, where he’s since started three games. He’s received minimal goal support from the Comets offense, resulting in a 1-2-0 record, but he’s looked no worse for wear with a .929 SV%. Daws faced at least 30 shots in all three starts.
The Devils brought Daws back up from Utica on an emergency basis ahead of the contest against Anaheim, with Vaněček unable to dress. Daws sat on the bench as a backup to Schmid in that contest and was a healthy scratch for the team’s following game against the Flyers before being returned to the Comets last Wednesday.
What Your Team Is Thankful For: New Jersey Devils
As the holiday season approaches, PHR will be taking a look at what teams are thankful for in 2023-24. There also might be a few things your team would like down the road. We’ll examine what’s gone well in the early going and what could improve as the season rolls on for the New Jersey Devils.
Who are the Devils thankful for?
The New Jersey Devils have plenty of blessings to count this holiday season but they’ll be thanking nobody more than Ellen Weinberg-Hughes, the mother of their new franchise pieces on both offense and defense. Jack Hughes has forced his way into the very top echelon of NHL talent this year with a dazzling 14 goals and 39 points in 27 games. That’s a 118-point pace this season and brings Jack to a combined 112 points over his last 82 regular season games. Meanwhile, brother Luke Hughes has tallied 16 points through 32 games of his own this year, ranking second among rookie defenders behind Pavel Mintyukov, who has two more points in one more outing. Luke has looked dazzling through his official rookie season and is a favorite to challenge Connor Bedard for this year’s Calder Trophy. Luke will pass Dougie Hamilton for the scoring lead among Devils defenders with one more point, something that could come soon as he’s taken control of New Jersey’s top power-play unit in Hamilton’s absence.
Surely thanks to her own successes as a hockey player, Ellen has helped the Devils find the pieces that could carry the franchise for years to come. The sky is the limit for New Jersey if both Jack and Luke can keep up their strong play.
What are the Devils thankful for?
A hot streak.
New Jersey didn’t hide their struggles in November, falling to a 6-7-0 record that was marked by two separate three-game losing streaks. And while they’re still working their way up, the Devils managed a much more impressive December, kicking off the month with a 5-2-0 record before falling to another three-game skid. They currently sit at 6-4-1 through 2023’s final month – a fine enough record that could look much stronger if New Jersey wasn’t being outscored 38-to-33 through the month. The Devils have three more games through the end of December, including a matchup against the Columbus Blue Jackets, who they beat 6-3 in their last meeting. Ending the month on a high note could go a long way in catapulting New Jersey forward in the new year.
What would the Devils be even more thankful for?
Good health.
The Devils’ season has been undermined by injuries since the start of the year, when they were quickly faced by injuries that held both Jack Hughes and Nico Hischier out of the lineup. Hughes returned quicker than Hischier, who has been in-and-out of the lineup and ultimately missed 11 of the team’s 32 games. Timo Meier has also fallen victim to injury, currently trying to play through lingering issues that have held him out of seven games this season. But it’s the blow to Dougie Hamilton that’s hit the Devils the hardest, with the top defender rumored to be out until the start of the playoffs. Hamilton was playing in over 20 minutes a night for New Jersey, and still leads the team’s defensemen in scoring with 16 points despite missing 12 games.
New Jersey has had to fight through the waves of injuries, relying on depth pieces like Erik Haula and Curtis Lazar to step up big when the team needs it. They’ve performed admirably but there’s no doubting that the team’s 17-13-2 record – which currently sits them outside of the Stanley Cup playoffs – wouldn’t look so sour if they were able to get more games out of their star players. There have only been seven games this season where Hughes, Hischier, and Hamilton appeared in the lineup together. New Jersey showed out in those matchups, going 4-2-1 and outscoring their opponents 29-to-27. They also added an impressive 56.8 CF% (Corsi-For percentage), showing the extent they’re able to dominant play when they have three of their most expensive contracts on the ice together.
What should be on the Devils holiday wish list?
An inexpensive goaltender.
The trade market for goaltenders is getting more-and-more crowded, which stinks for the Devils who have been searching for a new netminder since the summer. Vitek Vanecek‘s -8.8 GSAx (Goals saved above expected) stat is the second-worst in the league, per Moneypuck, only behind Edmonton’s struggling Stuart Skinner. Backup Akira Schmid isn’t far behind him, touting the 11th-worst GSAx in the league. That’s all to say that the team’s goaltenders have not been their strong suit, which helps explain why the Devils are allowing the sixth-most goals in the league.
The Devils will gain $9MM in cap space by moving Dougie Hamilton to long-term injured reserve, money that should let them acquire any goaltender they may be able to get their hands on. But which options are available, and how the price will be inflated by a buyer’s market, is yet to be seen. If they can’t find an option on the open market before March’s Trade Deadline, the Devils may need to turn to minor league options like Isaac Poulter, who currently has the second-highest save percentage among AHL rookie goalies with a .920 in 14 games. Either way, something has got to give with the Devils’ weakest link if they want to meet their pre-season expectations.
Devils Could Add Defenseman And Goaltender With Increased Cap Space
The Devils could be one of the more aggressive teams heading into the trade deadline with some unexpected cap space on their hands, Pierre LeBrun of The Athletic and TSN writes. While unconfirmed, recent reports indicate star defenseman Dougie Hamilton won’t be ready to return from his pectoral injury until the playoffs – likely in April or May. That opens up the possibility for his $9MM cap hit to head to long-term injured reserve, opening up significant room for the Devils to make deadline acquisitions.
With that extra money, look for the Devils to address needs on defense and in goal, LeBrun says. The Devils are receiving strong performances from rookie defenders Luke Hughes and Simon Nemec without Hamilton in the fold. Nemec, who was only recalled a few weeks ago in the wake of Hamilton’s injury, has been especially impressive. The 2022 second-overall pick is logging major minutes, averaging 20:56 through ten games, and has posted a goal and three assists. While his -5 rating suggests he’s struggled defensively at first glance, that figure is artificially brought down by the team’s poor goaltending. His 54.6% Corsi share at even strength is fourth among Devils defensemen this season, and his expected +3.7 rating, per Hockey Reference, is fourth on the team.
For a team that has championship aspirations, though, it would be unwise to rely on a pair of rookies to carry the team the rest of the way until Hamilton returns. They’ll undoubtedly still look to add to their defense, but Nemec’s emergence and Hamilton’s potential LTIR placement open the door for the Devils to address their goaltending issues in a big way. Their .887 team SV% ranks near the bottom of the league, and starter Vítek Vaněček‘s -8.3 goals saved above expected is fifth-worst among netminders this year, per MoneyPuck. Obvious targets include Ducks starter John Gibson and Canadiens veteran Jake Allen, both of whom have been linked to New Jersey in recent months.
Metropolitan Notes: Severson, Roslovic, Daws, Hinostroza
Blue Jackets defenseman Damon Severson will likely make his return from an oblique injury before Christmas, Columbus team reporter Jeff Svoboda relayed Wednesday. Severson, who remains on injured reserve, has missed just over a month since sustaining the injury in a November 19 contest against the Flyers, putting him well ahead of his predicted six-week return timeframe.
The 29-year-old blueliner is in his first season in Columbus after the Blue Jackets acquired his signing rights from the Devils just days before free agency opened last summer, promptly signing him to an eight-year, $50MM deal. Through his first 19 games, he’d given Columbus the level of play we’ve been accustomed to seeing from him over the past few seasons, notching eight points and a +1 rating while logging nearly 21 minutes per game. He remains in first place among Blue Jackets defenders with a 52% Corsi share at even strength, nearly four percentage points higher than second-place Zach Werenski‘s 48.1% mark. While playoffs again are out of the question for a Blue Jackets squad that’s six games below the .500 mark, Severson has been off to a strong start and looks to be an important piece of the team’s defense for the next few seasons.
Svoboda also reported that center Jack Roslovic, who is sidelined with a leg injury, won’t return until after Christmas. Roslovic, 26, is also on injured reserve and has missed 18 games with an ankle fracture.
While the Blue Jackets are at a full 23-player active roster, Severson could be activated during the current roster freeze without a corresponding transaction since it would not affect their cap hit. The Blue Jackets could wait to send down a player to be roster-compliant until December 28, when the freeze lifts.
Other notes from the Metropolitan Division today:
- The Devils assigned goalie Nico Daws to the AHL’s Utica Comets Wednesday morning, a team release states. The team promoted Daws from the minors on Sunday with Vítek Vaněček out with an undisclosed injury, but he did not see any playing time, and Vaněček returned to action last night. Daws, 22, missed the first two months of the season after undergoing offseason hip surgery and has been stellar in his return to play with the Comets, posting a .937 SV% and 2.04 GAA in two contests.
- After clearing waivers a few days back, the Penguins waited to assign winger Vinnie Hinostroza to the minors until yesterday. It was a short-lived move, as Seth Rorabaugh of Tribune-Review Sports reports Hinostroza is back on the NHL roster today. The 29-year-old has a goal and two assists in 13 games with the Penguins this season, his first in Pittsburgh.