The Stanley Cup playoffs are quickly coming to an end as the quest for the Stanley Cup between the Edmonton Oilers and Florida Panthers rage on. The rapidly nearing conclusion of the Stanley Cup playoffs signifies the impending beginning of the offseason. An offseason, that has been the case the past several years, that is imperative to the New Jersey Devils and their goal to emerge as a consistent contender.

With that being said, what are the important dates to be cognizant of coming up? What will general manager Tom Fitzgerald and staff have to work with to attack this all-important portion of the calendar year? Which internal assets will the team have to either retain or let walk?

Important Dates

After awarding the Stanley Cup, the next major occurrence in the NHL will be from June 28 to the 29th. That is when the NHL Entry Draft will take place with the first round beginning on the 28th at 7:00 pm ET and the remaining rounds taking place on the 29th. The draft is being held at the Sphere in Las Vegas and will be televised on ESPN day one and ESPN+ and NHL Network on day two.

Next up, teams will have to make decisions on their respective restricted free agents by July 1. Teams must submit qualify offers to pending restricted free agents by the Monday following the NHL Entry Draft. It just so happens that that date, July 1, also marks the beginning of NHL free agency.

So, once the Stanley Cup gets awarded to either Florida or Edmonton, and we reach the draft on June 28, things will move extremely fast.

What Do The Devils Have To Work With?

The Devils once again enter the offseason with some flexibility. They have both the cap space and draft assets needed to make external additions and continue improving a roster, that despite getting poor results last season, is close to legit, sustained contention.

The Cap Space

As it stands, the Devils currently project to have $19,123,603 in cap space entering the offseason, according to CapFriendly. This figure checks in at the 16th-most in the NHL.

New Jersey has 34 contracts on the books, with the only penalty or retention being a $250,000 figure due to the Ilya Kovalchuk penalties handed down by the NHL back in 2014. That figure is due to come off the books after the 2024-25 season.

The Draft Assets

Entering the seven-round 2024 NHL Entry Draft, the Devils will own six draft selections. The team does not own a second-round pick (Timo Meier trade), fourth-round pick (Curtis Lazar trade), or seventh-round selection (Timo Meier trade).

By far, the most valuable selection the team owns in this upcoming draft, is their first-round pick, which checks in 10th overall. After that, the team owns two third-round picks (their own and one via Winnipeg courtesy of the Tyler Toffoli trade), two fifth-round picks (their own and one via Colorado courtesy of the Time Meier trade with San Jose), and a sixth-round pick.

In future seasons, the team owns five picks for the 2025 draft and nine picks in the 2026 draft. In 2025, the team is without their third rounder, fifth rounder, and seventh rounder. Additionally, if Jake Allen plays 40 or more games in 2024-25 and the Devils make the playoffs, that third-round pick would upgrade to a second-round selection. In 2026, New Jersey owns three fourth-round picks.

The Pending Free Agents

Like any team, the Devils have some of their own they need to attend to first before free agency officially opens on July 1. As it relates to free agents, there are some key terms that you should familiarize yourself with:

• Restricted Free Agent (RFA): A player who is a free agent, without a contract, but still under team control. If the player does not receive a qualifying offer by June 25th at 5:00 pm ET, they immediately become a UFA.
• Unrestricted Free Agent (UFA): A player becomes a free agent when their contract expires on July 1 after the last league year of their contract. Any player who meets the following requirements becomes an unrestricted free agent (UFA). An unrestricted free agent is eligible to sign a contract with any club as of noon ET on July 1 after the last League Year of their contract
• Arbitration Eligible: Arbitration is a tool available to settle some contract disputes. The player and team each propose a salary for the coming season and argue their cases at a hearing. The arbitrator, a neutral third party, then sets the player’s salary.

Note, definitions via CapFriendly.

So, who will the Devils need to make decisions on by July 1? Remember, the deadline to qualify restricted free agents is the same date that free agency begins on the first of July.

Restricted Free Agents (RFA): Dawson Mercer, Nolan Foote, Graeme Clarke, Santeri Hatakka, Michael Vukojevic, Nico Daws, Akira Schmid (Arb.), Cal Foote (Arb.), Michael McLeod (Arb.)

Note, “Arb.” designates that the player is arbitration eligible. 

Unrestricted Free Agents (UFA): Tomas Nosek, Chris Tierney, Nick DeSimone, Brendan Smith, Kaapo Kähkönen, Kyle Criscuolo, Tyler Wotherspoon, Keith Kinkaid

In total, the Devils have eight unrestricted free agents, none of which are too notable. Meanwhile, the team has nine restricted free agent, with the most notable being the 22-year-old Mercer.

What’s Next?

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