The New Jersey Devils have just two days left before the start of their season, and they currently find themselves in negative cap space.
After signing restricted free agent Luke Hughes to a seven-year, $63 million contract (an average annual value of $9 million), the Devils ended up $3.98 million over the salary cap as of October 1.
General Manager Tom Fitzgerald has already started making moves to address the issue. Just five days after inking Hughes, the Devils made their first trade of the season, acquiring Zack MacEwen from the Ottawa Senators in exchange for Kurtis MacDermid.
MacDermid carried a $1.15 million cap hit, which is no longer on New Jersey’s books. MacEwen, meanwhile, comes with a $775,000 cap hit on a one-way deal that expires at the end of this season, the final year of his three-year, $2.33 million contract.
Less than 24 hours later, New Jersey made another move, placing MacEwen on waivers. The forward was acquired on Friday and waived on Saturday.
Even after those transactions, however, the Devils still sit over the salary cap.
The most likely solution heading into the season is to place Johnathan Kovacevic on long-term injured reserve (LTIR). Under the new rules implemented this year, the team would receive $3.8 million in relief, slightly less than its full $4 million cap hit.
That move would bring New Jersey back under the cap and allow the Devils to open the 2025–26 season with a compliant roster. The issue wouldn’t resurface until Kovacevic’s expected return in 2026, when the team would once again need to reallocate funds.
According to PuckPedia, New Jersey’s projected opening night roster remains $3.99 million over the cap. With just two days left before puck drop, more roster moves may still be coming.