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The New Jersey Devils are swimming in cap space

June 30, 2017, 1:18 PM ET [106 Comments]
Todd Cordell
New Jersey Devils Blogger • RSSArchiveCONTACT
Follow me on Twitter @ToddCordell

The New Jersey Devils opened a lot of eyes this afternoon when they placed Mike Cammalleri and Devante Smith-Pelly on waivers with the purpose of buying them out.

The Devils, a team already swimming in money, now have more than $32.5 million in cap space if you count the $4.85M that will be freed when Ryane Clowe is placed on long-term injured reserve.

I have some thoughts on how they may use (some of) it:

1) The Devils have been linked as a potential landing spot for Kevin Shattenkirk since the beginning of time and that is not a smokescreen. Their interest is genuine and I fully expect them to take a healthy run at signing him. I think New Jersey is as likely as anyone to get the perennial 40+ point defenseman.

2) Part of this is opening up spots for kids (like Nico Hischier and potentially Mike McLeod, among others), but that isn't the sole purpose of these moves. Whether it be via free agency or trade, the Devils are going to add some pieces. Shattenkirk, if he signs, won't be the only guy added in the coming weeks.

3) I've said countless times the Devils want to take a step forward this year, perhaps even a big one. They have a good prospect system and a nice core headlined -- at least right now -- by Taylor Hall and Cory Schneider. The Devils aren't going to sit around and waste their best years. They don't want to bring Nico Hischier into a losing environment, either. They want to get this ball rolling.

4) Don't rule out Ilya Kovalchuk coming back. Is it likely? Probably not, but the Devils are adding some pieces to make themselves at least somewhat competitive this year and money talks. If the Devils can convince Kovalchuk they'll be decent -- getting him and Shattenkirk to commit would be a great start -- and they pay him well, I'm sure he'd be willing to reconsider staying. The Devils have more than enough space to give Kovalchuk a satisfying number over a two or three-year term.

5) Buckle up, the next couple weeks could be fun.

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