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Devils Trade Talk: What to Do With New Cap Space After Palat Trade
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- Devils Trade Talk: What to Do With New Cap Space After Palat Trade
What should GM Tom Fitzgerald do with the cap space he created in the Ondrej Palat New Jersey Devils trade?
After sending Palat and picks to the New York Islanders in exchange for Maxim Tsyplakov, the Devils now have a touch under $7 million freed up, with $ 6,887,500in cap space.
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We've heard numerous times this season that Fitzgerald is working the phones. So, what's the next move?
Senior reporter Arthur Staple joined the latest Devils Rink Report to discuss what New Jersey should do with the cap space freed up by trading Palat to the Islanders, urging Fitzgerald to go further by moving Dougie Hamilton 's contract to enable a roster overhaul—even as the playoff gap widens in early February 2026.
"I think the fact that there's more on the table here and the pressure that Tom Fitzgerald is under to turn this thing around, even if it's not this season, because we're getting into territory now," Staple said.
The Devils currently sit eight points out of the playoff picture. They're chasing the Islanders who are third in the Metropolitan Division, and play them later this week. Depending on how the Devils look after their two-game homestand before the 2026 Olympic break could determine the route they take.
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"Especially with these next two games and the last one before the break being against the Islanders, if they only get one or two or even three points out of this, with all the teams you have to climb over, and the gap between the cut line is getting pretty wide. Now, we always talk about, well, 'The traditional thing to look at is if you are four points or more out at Thanksgiving.' Well, we are way past Thanksgiving now, and we're getting into six-to-eight-point separation. So it's desperation time for the Devils."
Even though the Devils cleared up some cap room by moving Palat, they can create even more space for themselves by moving Hamilton, too. Those discussions have cooled after comments with his agent went public. Yet, if the Devils continue their descending trend, why not move him for the bigger picture?
"So I'm interested to see what Tom Fitzgerald can do with this space, whether he wants to create more space. You know, Dougie [Hamilton] has obviously been playing lights out since the scratch, and the rumor mill seems to have calmed a bit. To me, I'm not quite sure if I understand that. I think you still need to transform this team, and the way to do that is to move one of the biggest contracts that you can move, and that's Dougie."
Despite Luke Hughes ' injury, Staple advocated for action now. The goal transcends this season.
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"So, you know, obviously the injury to Luke Hughes, who knows how long that's going to go on. But I still kind of feel like, if you're going to take a big swing, you do it now, ahead of the deadline. You try your hardest to know that transformation that you felt like you needed to stop this two-plus-month slide.
"Whether it saves this season or not, whether it even saves Fitzgerald's job or not. I think that's still the mandate. He wanted to make a big splash. It didn't happen with Quinn Hughes . It didn't happen with all the other rumored guys."
A blockbuster deal for the Devils probably died when Quinn was traded to the Minnesota Wild. However, Staple suggested a target like Ryan O'Reilly is a viable one with the extra room.
"If you're not going to blow it out of the water, you could still say Ryan O'Reilly is someone that they can fit now under the cap and also would be a pretty big change for this forward group, especially now. And I know, you know they're saying Jack [Hughes'] injury is not serious. But you still need centers. You still need guys who are winners.
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"You've just taken one guy in Ondrej Palat off your books [trading him to the Islanders]. Maybe O'Reilly is too similar to bring him straight in, but I still feel like he's someone who can contribute, can bring the room together. This is a group that just seems like it needs a big bucket of cold water thrown on it at the moment in some possible way."
Fitzgerald's job will certainly be evaluated by Devils ownership this summer. What he does between now and then could make or break his security.
"And like I said, I don't know if it can save this season, but it can save some jobs, and it could save some people's reputations going into 2026-27 at the very least."
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