Tuesday felt like New Year’s Eve in the hockey world, certainly for some players and executives. Teams were getting in their final offers before the clock struck midnight and the new collective bargaining agreement took effect. Teams were rushing to get their eight-year contracts in, and the deals kept coming. 

While the New Jersey Devils didn’t get the eight-year deal before the deadline, they got their big extension out of the way (the biggest aside from Nico Hischier's extension earlier in the offseason). They signed Luke Evangelista to a five-year contract with a $7.25 average annual value. 

It’s easy to see this deal as a risk that could backfire for the Devils. Evangelista has yet to play a game for them and has one big season in his career. In four seasons with the Nashville Predators, he only cleared the 50-point mark once, albeit it was last season. 

Yet, the Devils have him under contract for the next six years. At the same time, this deal leaves a few doors open for general manager Sunny Mehta, who kicked off the ground running since taking over the team this offseason. 

It won’t be long before a $7 million AAV is the going rate for third-line skaters. Justin Sourdif signed for eight years with a $6.3 million AAV, while Noah Ostlund has a $6.6 million AAV. These contracts look like major hits to the salary cap, but they aren’t anymore and won’t be in the future either. 

With the rising cap, these long-term deals are expected to age well. It’s why some agents are urging their players to take shorter-term deals, while GMs are eager to lock up players when they can. Most people think of the Leo Carlsson contract as the one that changes the offseason for star players. It raised the floor as well. 

It’s possible Evangelista struggles with the Devils. He doesn’t establish himself in the top six and instead remains on the third line throughout his contract. However, even if that happens, he can remain a key depth player, and not a bad one either. His floor still gives the Devils offense, and they’ll take it in their bottom six. 

The big motive for handing out this contract from Mehta’s perspective is the bet on the upside. Sure, Evangelista has only provided a small sample size, but he’s shown a lot of promise in four years with the Nashville Predators. 

The big thing is Evangelista’s playmaking. A young winger who can skate and create scoring chances goes a long way for the Devils. They have scorers, but they can use another playmaker who makes everyone around him better. Better yet, if he rounds out his game, he's the ideal player to have on the top line alongside Jack Hughes and Jesper Bratt, and the Devils can have him there for his prime years. 

And if Evangelista becomes an elite player, the Devils will have him at a great value. The $7.25 AAV is a bargain in a rising cap world for a top-six player. Mehta has made bets on upside all summer, and this is his biggest, one that can change how the team looks for years to come. 

The five years is where Mehta presumably had the toughest negotiation. Ideally, the Devils signed the 24-year-old winger for eight years just before the ball (or puck) dropped on the midnight deadline. 

The five-year extension allows Evangelista to return to the table at 30 and receive his big payday. At that age, he’ll still be in his prime and cash in on a seven-year deal, or six years elsewhere. While some fans will be hesitant about giving him that type of contract, it's another deal that can age well if Evangelista develops into a playmaker who doesn't take a beating. 

Plus, if Evangelista becomes an elite player, he can use this contract as leverage. He can tell the Devils front office that he was underpaid for six years and deserves the have a contract that makes up for it. 

What do you think of the Evangelista deal? Comment below!