The New Jersey Devils are once again a team that's up against the salary cap. After signing Dawson Mercer to a $4 million AAV deal, they have less than $1 million to spend. With stars like Dougie Hamilton, Jack Hughes, Jesper Bratt, Nico Hischier, and Jesper Bratt all making more than $7 million, the Devils will be close to the cap for the foreseeable future.
Right now, the salary cap sits at $88 million. According to the Collective Bargaining Agreement (first reported by Puck Pedia), the max the salary cap can increase in one offseason is 5%. Well, as reported by The Athletic's Pierre Lebrun, the salary cap next year is expected to hit $92.5 million.
That's huge for a New Jersey Devils team that is not done spending. And they don't have a lot coming off the books. There isn't one contract worth $2 million or more that's coming off the books next season. In total, the Devils would have about $11 million if the cap stays at $88 million. That's not much at all to upgrade this team. They need a backup goalie, depth defensemen, a top-six forward, and some bottom-six defensemen.
Oh, and they need to re-sign Luke Hughes. That is going to take up most of that $11 million. That's why it's good news that Gary Bettman gave the news of the expected increase salary cap. The $4.5 million is more than 5% allowed by the CBA, but there can be special exemptions (which happened this past offseason).
Hughes could get more than $8 million per season. There's a big difference between around $3 million left in cap space and $7 million. The Devils could add some legitimate players with $7 million. With $3 million, the Devils would have to either move a player to make more money available or just accept some prospects or players on the minimum filling those roles.
This really is great news for the Devils, especially. They have so much they want to do and not a ton of assets to make it happen. They don't have a first-round pick next offseason, and their prospect pool isn't what it used to be. With that extra $4.5 million, the Devils can focus on veteran NHL players.