If the Montreal Canadiens finally manage to trade the last year of Carey Price's contract, which comes with a $10.5 million cap hit, the New Jersey Devils might be back in business.
Devils GM Tom Fitzgerald previously spoke about the "internal cap" as a potential pain point, as teams in smaller markets are less likely to spend as much as teams like the Canadiens, New York Rangers, and Toronto Maple Leafs, for example.
As reported by Marco D'Amico of RG Media on Sunday, Price's contract has been "in play for a while," according to a source, and his $5.5 million signing bonus will be paid on Monday.
That leaves the 38-year-old to collect a $7.5 million salary this season, which is more manageable for teams who have to closely adhere to that "internal cap" Fitzgerald spoke of.
How does a Carey Price trade affect the Devils?
According to D'Amico, "Price is expected to be traded at some point in the week. Sources have heard the most amount of noise around the San Jose Sharks, who are just $5M over the salary cap floor, with nine unrestricted free agents — five of which are defensemen — that could be prime trade candidates."
D'Amico also noted that "acquiring a contract like Price's would give them the necessary insurance to trade some of their higher priced players without dipping under the salary cap floor."
Teams that are expected to be sellers, like the Sharks, Chicago Blackhawks, Pittsburgh Penguins, and, potentially, the Nashville Predators, could all be willing to take on anchor contracts to ensure they stay cap-compliant throughout the season while gathering real assets for better players.
For the Devils, a player like Ondrej Palat has a $6 million cap hit, but earns collects a $1 million signing bonus with a true salary of $4.95 million.
Plus, next year, the last of his contract, Palat does not receive any signing bonuses and maintains that same salary.
If and when Palat's bonus is paid, he, too, could become a somewhat desirable trade candidate, though his 10-team trade list (not to be confused with a no-trade list) shuts out two-thirds of the league, unless he explicitly approves otherwise.
But, if the Devils are to make any kind of trade, it should happen within the month, helping resolve the burgeoning Luke Hughes contract ordeal.