The New Jersey Devils knew that the 2024 offseason was going to be a transitional one. They needed to replace Lindy Ruff as head coach, and it was clear the roster wasn't good enough to make the playoffs in 2023-24. Devils President and GM Tom Fitzgerald hired Sheldon Keefe after he was let go in Toronto, and he made it a point to focus on the blue line and toughness up front. His strategy has been approached with skepticism because of how the Devils' season ended.
When looking at each deal on its own, the valuation might change. Some worked out really well, while others put the Devils in a tough spot. Even with the rising salary cap, the Devils have to be smart with their money this offseason because of what happened last year. The Devils put $22.5 million on the 2025-26 salary cap last offseason. That jumps to $26.5 million if you add Johnny Kovacevic's extension.
Knowing the Devils made big-money moves last year, where do they all land on a grade scale?
Johnny Kovacevic trade
Grade: A
Some might have been frustrated with Johnny Kovacevic at the end of the season, but there's no way anyone can say anything except his trade deserves an A. The Devils sent the Montreal Canadiens a 2026 fourth-round pick for the right-handed defenseman. Kovacevic was supposed to be the Devils' seventh defenseman, but injuries to Luke Hughes and Brett Pesce gave him an opportunity to shine right away. He became one half of the best defensive pair in the league with Jonas Siegenthaler, and it earned him a long-term deal with the Devils. He is going to miss the start of next season with an injury, but hopefully he connects back with Siegenthaler and dominated like they did.
Paul Cotter trade
Grade: B+
This might be another controversial take, but Tom Fitzgerald took an issue that was only getting worse and turned it into two positive assets. Alexander Holtz was going in the wrong direction as an NHL player, and he turned that into a long-term contributor. Akira Schmid also felt like he wanted to get out of town. So, the Devils turned two declining assets into Paul Cotter, who scored 16 goals during the regular season. He also broke the Devils' record for hits in a season. They also get a third-round pick on top of it. Not bad for a guy who isn't in the playoff lineup for Vegas.
Jacob Markstrom trade
Grade: B+
The Jacob Markstrom trade cost a lot, with the Devils giving the Calgary Flames defenseman Kevin Bahl and the 18th overall pick in this year's NHL Draft. It's a rough turn of events that the Devils ended up having such a high pick, but without Markstrom, the Devils don't make the playoffs. Without Markstrom, they get embarrassed by the Carolina Hurricanes. Instead, Markstrom gave them a legit number one. That's worth the price, especially if he's able to repeat the performance next season.
Brett Pesce signing
Grade: B
This one is hard to grade right now. Brett Pesce had some moments this season where the contract looked downright scary. However, in the playoffs, Pesce played with heart and grit the team needed. Getting his impacts for $5.5 million in today's market is quite good. He adds just enough offense to be effective, and his mistakes could be simple to fix if he just studies Sheldon Keefe's system all offseason. If he avoids the defensive-zone turnovers, he turns this signing into an "A" next season and beyond.
Stefan Noesen signing
Grade: B-
This looked like an A+ in the first half of the season. Stefan Noesen was the perfect player to fit what the Devils wanted to do on the power play. He was underneath to clean up the shots of Jack Hughes and Dougie Hamilton. He finished the season with 22 goals, which can't be discounted. His contributions were very important, but his fall off really hurt the Devils' secondary scoring in the second half of the season.