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NHL/NHLPA Project Major Salary Cap Spike; Devils Three-Season Outlook

The NHL/NHLPA projects a major salary cap spike in each of the next three seasons. Certainly, it’s an exciting development when looking over the Devils’ three-year outlook.

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New Jersey Devils
Jan 04, 2025; San Jose, CA, USA; during New Jersey Devils at San Jose Sharks at SAP Center. Photo: Hockey Shots/Dean Tait

It was the NHLs worst-kept secret. The salary cap has been rumored to be increasing more than the projected 3% for the summer of 2025. Well, the NHL released its salary cap projections for the next three seasons, and all teams, including the New Jersey Devils, are getting quite the boost.



Halfway through the 2024-25 season, the NHL canceled the players’ escrow payments as a result of league-wide growth. In other words, the players had paid back their debt to the COVID-19 seasons, and the NHL is back in the business of profit.

Before this summer’s spike, the NHL had a hard salary cap, increasing just incrementally dating back to 2020.

However, for the following three seasons, the salary cap ceiling will soar.

According to the NHL/NHLPA, here are the following salary cap projections through 2028:

2025–26
Upper Limit: $95.5m
Lower Limit: $70.6m

2026–27
Upper: $104m
Lower: $76.9m

2027–28
Upper: $113.5m
Lower: $83.9m

As soon as July 1st, the salary cap is projected to increase $7.5 million from it’s $88 million ceiling.

The NHL/NHLPA also explained, “The projected Team Payroll Ranges for the 2026–27 and 2027–28 seasons will be subject to potential minor adjustments (up or down).

“The parties still intend to meet to discuss other elements of the Collective Bargaining Agreement that might need modification and/or improvement beyond the 2025–26 season.”

According to Frank Seravalli, “the salary cap floor will be rising to a level that is approaching this season’s ceiling. Massive increase for some teams. The memo says two future seasons (2026–27 and 2027–28) are subject to ‘potential minor increases (up or down).’”

Devils Three Year Projection

 2025–26

Certainly, that’s great news all around.

For the Devils, it’s great news with two key pending free agents coming this summer, among other expiring contracts. When they reach July 1st, the Devils are expected to be carrying a cap hit of $76,550,000, giving them $18.85 million in cap space.

READ MORE: Luke Hughes’ Potential Contract Extension with the Devils Revealed

Luke Hughes is set to command a hefty raise this summer. The restricted free agent defenseman very well could follow in his brother, Jack Hughes’ footsteps, and ink a long-term deal early. Regardless, Hughes is set to earn well above his current AAV of $925,000. Now, they have the extra room, which should make getting a deal done that much easier.

Hughes isn’t the only expiring defenseman. Johnathan Kovacevic is also going to need a new contract. Given his breakout performance thus far, he’s also due to make more than his $776,667 AAV. However, his circumstances are different. He’s an unrestricted free agent, and if the two sides can’t come to terms, he can walk to free agency.

The extra cap room now opens the Devils’ window a bit wider to ink Kovacevic to a deal.

Walking into the summer of 2025, the Devils will have 16/23 contracts on the active roster as of now.

2026–27

Looking ahead past next season, the salary cap is expected to jump even higher at $104 million. As of now, and before potential new contracts discussed previously, the Devils are walking into summer 2026 with just over $36 million in cap space. That number is certain to be smaller after Hughes and Kovacevic.

The Devils’ core of players are all locked up for the 2026-27 season, assuming Luke Hughes’ contract is more than just a one-year deal. However, key top prospect Simon Nemec will need a new deal in two summers.

It’s anticipated that by the time that happens, Nemec will be an impact player for the Devils on their blueline. Otherwise, you could see him skating in a different sweater and that could become another teams’ problem.

However, Nemec has the ceiling of a top-pairing, No.1 defenseman, and could command himself a pretty penny.

There is also the factor that Jacob Markstrom will become a UFA that summer. Therefore, the Devils could either extend him, or may need to pay the price of a new No.1 goaltender if their internal options don’t work out.

Some names of note to become unrestricted free agents that summer:

Kirill Kaprizov, Cale Makar, and Jack Eichel, among others.

In goal, Thatcher Demko is another expiring free agent of note.

Walking into the summer of 2026, the Devils will have 12/23 contracts on the active roster, as of now.

2027–28

This is the summer where the Devils will need as much money as possible.

With the cap jumping to a whopping 113.5 million, as of now, the Devils are walking into summer 2027 with almost $71 million. Again, assuming Hughes, Nemec, Kovacevic, and a few other factors come into play, it will be a small amount to work with. Yet, there’s still a lot of money to go around.

That’s the summer when significant cap hits such as Ondrej Palat, Stefan Noesen, and Brenden Dillon come off the books.

It’s also the summer when captain Nico Hischier’s current deal expires as well. Certainly, the Devils hope to be ahead of July 1st with their captain.

Everyone else remains to be seen, and you could see a scenario in which the other expiring contracts walk.

There is also the tidbit that Quinn Hughes becomes a free agent in 2027. Certainly, it’s at least on the Devils’ radar.

One could dream.

Walking into the summer of 2027, the Devils will have 6/23 contracts on the active roster as of now.

*ALL METRICS PRESENTED BY PUCKPEDIA

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