When the New Jersey Devils traded Erik Haula for a fourth-round pick and a low-tier prospect last month, many believed it would kick off a wave of salary-shedding moves by cap-strapped contenders. With the salary cap increasing, teams were expected to be more willing to take on slightly overpriced contracts.
Yet, despite the extra cap room, the Devils remain pressed up against the ceiling and still haven’t signed Luke Hughes to what’s expected to be a long-term extension. The lack of cap space is likely the main reason that deal hasn’t been finalized yet.
The clearest path to freeing up room is moving Ondrej Palat, whose \$6 million cap hit has become a burden. His play has declined significantly, and he struggled last season—failing to mesh with head coach Sheldon Keefe’s system and underperforming alongside stars like Jack Hughes and Nico Hischier. His mistakes often led to goals against, and he’s no longer contributing at a level that justifies his cost.
While the Devils still need to bolster their bottom six, they’ve already added players like Evgenii Dadonov and Connor Brown, making Palat expendable. Letting him go could end up helping the team more than keeping him.
So why hasn’t a deal happened yet? It’s not as simple as it looks. Palat holds a 10-team no-trade clause and a full no-move clause, meaning he can’t be waived or sent to the AHL. That limits the Devils’ flexibility and makes finding a trade partner more difficult.
And despite there being available cap space league-wide, no team outside Palat’s blocked list appears willing to absorb his full salary. At one time, the Devils may have hoped to get decent value in return for him, but that’s looking less realistic. They might now need to attach a sweetener to get a deal done.
The situation was further complicated by a major trade on Thursday night: the Penguins acquired Matt Dumba and a 2028 second-round pick from the Dallas Stars in exchange for Vladislav Kolyachonok. Dallas effectively had to give up a future second just to move Dumba’s \$3 million contract after his poor season—less than what Palat is owed.
That trade underscores the reality facing New Jersey: Palat is a depreciated asset, and unlike Haula, who had playoff appeal, there hasn’t been a team willing to gamble on Palat’s veteran presence. Unless something changes, the Devils may have to pay a price just to get his contract off the books.
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