The New Jersey Devils are actively trying to get a Luke Hughes deal done. We’re now deep into the panic guide, and Hughes has already missed too much training camp for our liking. However, if the end game is an eight-year deal, then it is just the price of doing business.
This was the Devils’ biggest priority this offseason, and it remains the biggest priority in training camp. Signing Luke Hughes to an eight-year deal means that the Jack Hughes negotiations will go a lot easier in five years. It means the “rumors” that the Hughes brothers might be looking to connect outside of New Jersey will likely end.
It also means the connection of former Norris Trophy winner Quinn Hughes to New Jersey only gets louder. There is too much positive in signing Luke Hughes to an eight-year deal, the last year in which such deals will exist under the new CBA. The only thing holding them back is the Devils’ current salary cap space.
Puck Pedia has the Devils sitting at around $6.1 million without a Hughes contract on the books. (NOTE: It says less than $6 million on the site, but they currently have 24 players on the Devils' roster.) However, they can easily make that about $6.5 million by burying Kurtis MacDermid’s contract and replacing him with a rookie. They could also go with 22 players to start the season and get closer to $7 million in space.
Hughes isn’t signing an eight-year deal for $7 million per season. He will want closer to $9 million, and he might even get to eight digits on his long-term pact. How can the Devils make that fit under the salary cap this season?
1. Using long-term injured reserve
The most obvious and simple approach to this situation is putting Johnny Kovacevic on long-term injured reserve. This would open another $3.8 million (a new rule in place this season only opens that amount of money if a team expects the player to return in the season). They could also put Stefan Noesen on LTIR since they won’t be accumulating cap space anyway. Noesen would have to miss 21 days minimum, but that might be the case if his injury is serious.
Even with the Devils holding onto the most expensive players, the Devils still get $9.9 million by placing Kovacevic on LTIR. That should be enough, but if they need a little more, they can bury MacDermid and get over $10 million in space. This would have to be rectified when Kovacevic returns, but it is the simplest short-term solution.
2. Make a trade
This is the one Tom Fitzgerald would like best. Ondrej Palat is the most desirable option. His $6 million salary has never made sense. It was an overpay at the time, and the impact of three Stanley Cup Final runs with the Tampa Bay Lightning clearly had an impact on his health.
If it’s not Palat, the Devils could trade Dawson Mercer. It can’t be for a simple cap dump. Mercer is too important to lose for nothing, but they could trade Mercer for a younger forward who could prove themselves with the Devils.
There are other trades that could open a little more space, or they could move one of their defensemen to get even more space. A trade could really help the Devils, although it does cause a hole in the lineup if one of their young guys can’t fill it.
3. Play cap gymnastics with the AHL
The Devils have a lot of depth on the bottom of the roster. They can send down Noesen’s contract, which is almost certainly not getting claimed, as he’s dealing with a possible major injury. They can send down MacDermid, Seamus Casey, and Ondrej Palat. It would cause some consternation with the team, as it will be looked at as burying contracts and possible cap circumvention, but we haven’t seen anything saying this was against the rules right now (but many could argue it’s against the nature of the rule).
It's probably not worth the squeeze for this one. Palat would not be happy to be sent down (although, it might move a trade forward faster). The league won't love what the Devils are doing to bend the rules. It's just not worth it for the team to get in the bad graces of the league.
This is very unlikely and the Devils would just use LTIR, but there is a very strange way to make the cap work to pay Luke Hughes over $9.25 million while still gaining cap space throughout the season. Just because it's possible doesn't mean the Devils should consider it as an option.