The New Jersey Devils wanted to make big moves this offseason after a disappointing end to the season. In Sheldon Keefe’s first year behind the bench, he was able to get his team to the playoffs, but they went out with a whimper in five games in the first round against the Carolina Hurricanes.
Devils GM Tom Fitzgerald wants to upgrade the offense, and he started making room for that to happen by trading Erik Haula to the Nashville Predators for a fourth-round pick. They actually took a goalie with that pick. Trenten Bennett was the tallest player in the NHL Draft, so it’s definitely something (even if it was essentially a two-round overdraft).
And that leads us back into the free agency conversation. The Devils made their first major move of the offseason, signing Jake Allen to a very surprising contract.
Jake Allen NJ: 5 x $1.8M AAV
— Elliotte Friedman (@FriedgeHNIC) July 1, 2025
ESPN's Kevin Weekes was the first person to have Allen re-sign with the Devils, and Sportsnet's Elliotte Friedman was the first to release the terms, which are shocking to say the least.
Most expected Allen to demand upwards of $4 million per season on a short-term deal. He's 34 years old, so he was looking at either going to market and hoping he would sign for big money and figure it out later, but he chose security for his family. He will be in New Jersey for the next five years (or he will at least be paid like that).
Getting the top goalie on a weak goalie market with teams looking for upgrades at the position for under $2 million per season, with a rising salary cap, is great work by Fitzgerald and the Devils. The Jake Allen trade from last season continues to make more sense.
What does Jake Allen trade mean for Devils' free agency frenzy?
This deal, unexpectedly, doesn't make a major impact on the Devils' free agency plans. They are sitting on around $12 million in cap space after signing Allen. They have to re-sign Luke Hughes to a massive deal, but that was always engraved into the plan.
With such a weak free agency class, getting this deal done is important for the Devils. They won games on the backs of their goaltenders last season, and putting Allen back with Jacob Markstrom is huge. This might mean the Devils need to send Nico Daws elsewhere to give him an opportunity, or they can go with three goalies next season. Either way, Daws is getting a raise next year because he is on a one-way deal, meaning he is getting his NHL salary no matter where he is playing.
We still expect the Devils to make a play for some bottom-six help in free agency. Unless they break the bank for Brock Boeser, there isn't a top-six option that makes sense for them. To spend, they might have to trade away Ondrej Palat, but it's probably best for those two parties to break.
The Allen deal is smart. We are seeing more teams giving older players crazy term in order to lower cap hits. A constantly rising salary cap makes this possible. The Allen-Markstrom tandem is back, and the Devils once again have goalie depth.