EDITOR'S NOTE : This story was written prior to the Minnesota Wild's trade of Quinn Hughes. It's been updated according to current information at time of publishing.
The New Jersey Devils have been one of the most active teams on the NHL rumor mill. Beyond the evident talk surrounding Quinn Hughes, which ended with them in "second place" to the Minnesota Wild, the Devils have been looking to upgrade amid a major downswing this season.
Goaltending has been one issue that’s come up. Another has been forward depth. In particular, the loss of Jack Hughes has sparked discussion about adding more depth down the middle.
However, the Devils just haven’t been able to get anything done. As much as they would like to add, they just can’t seem to get anything going. Now, insider Elliotte Friedman has revealed the reasons why.
In Friedman’s 32 Thoughts blog published on December 12, he described why the Devils seem handcuffed at the moment. He wrote:
“They (Devils) are legitimately trying to get business done, but to add, they have to subtract. If the team they are trading with isn’t willing to take back salary, they must find other options — which they are trying to do. There are several no-trade or modified no-trade clauses, harder to thread the needle. That’s why I believe things got out, they have hands in a few different places.”
All right, so several things to unpack here. First of all, the Devils’ cap situation is the biggest obstacle. They are essentially over the cap as blueliners Brett Pesce and Jonathan Kovacevic are on LTIR. That’s nearly $8 million in LTIR that’s helped the Devils stay cap-compliant this season.
Second, the Devils have $1.9 million to play with. That’s not nearly enough to make any meaningful additions without shedding salary. In other words, the Devils have to make dollar-in-dollar-out trades.
But what if the other party isn’t inclined to do so? Hence the dilemma. The Devils are looking to make secondary deals to clear up cap space that could allow for further additions.
The third issue is the no-trade, no-movement clauses. That is a mildly subtle jab at Ondrej Palat. His $6 million cap hit is on the books for this season and next. However, he’s got a 10-team no-trade list and a no-movement clause. Dougie Hamilton also has a 10-team no-trade list, while Jacob Markstrom has a full no-movement clause this season and a 20-team list kicking in on July 1, 2026.
Interestingly enough, the only players without no-trade clauses this season are Jack and Luke Hughes, Dawson Mercer, and Cody Glass. Other depth players are also devoid of no-trade protection.
So, could the Devils be forced to move someone like Dawson Mercer? As fans saw in the Edmonton Oilers-Pittsburgh Penguins trade, there are tough choices to be made. The Oilers sacrificed Brett Kulak, one of their more reliable defensemen, to make the math work on Tristan Jarry’s contract.
Speaking of Jarry and the Oilers, that trade could be the key shoe to drop. So, it could be that a flurry of moves suddenly hits before the Christmas trade freeze on December 20.