The New Jersey Devils fanbase waited the entire offseason and most of training camp for any positive update on contract talks with defenseman Luke Hughes. A restricted free agent, the clock was ticking for Hughes to reach an agreement on a long-term deal. While both sides wanted to get a deal done, the updates seemed more pessimistic by the day, especially on Tuesday.
The Athletic NHL insider Chris Johnston was first to break the news that the Devils and Hughes had agreed to terms on a seven-year, $63 million contract extension. Sportsnet NHL insider Elliotte Friedman was the first to report that the two sides were closing in on a deal.
This is good news for Devils fans, as the uncertainty is over, and one of their top defenseman will now head to training camp and get ready for the start of the regular season. While they did get a deal done, it was a bit of an overpay.
Devils had to re-sign Luke Hughes, but it was an overpay
At first glance, yes, Luke is making more on an annual basis than his older brother, Jack, who earns $8 million per year on his current deal. So that will definitely stick with Luke for a bit, at least until the Devils give Jack his next long-term contract.
Hughes isn't a lockdown defenseman by any means. He is a defenseman who can help in scoring situations, much like Erik Karlsson, and is fast. Plus, he has improved defensively last season. Having Hughes on the power play is huge for the Devils, especially as a left-handed defenseman. At 22 years old, there is still plenty of room for him to develop, but at that price, the Devils better hope that it happens.
But looking at some of the other top young defensemen in the league, Hughes now laps them. Brock Faber of the Minnesota Wild earns $8.5 million per year. Jake Sanderson of the Ottawa Senators earns $8.05 million per year. With the salary cap rising at its current rate, top players at their position due for a new contract are going to reset the market.
Yet, this new contract for Hughes puts the Devils in a precarious position that they must solve now. As of this writing, the Devils are $3 million over the salary cap. So, they'll have to make a trade or release to get a contract off the books to help them get under the threshold.
The Devils aren't going to let a player like Hughes leave, that's for sure. But it still doesn't mean that they kept him on a bargain. The Devils will now have to do some bookkeeping to make sure they get under the salary cap threshold.