Forwards Michael Cammalleri and Devante Smith-Pelly are having their contracts bought out by the New Jersey Devils.
The New Jersey Devils placed forwards Michael Cammalleri and Devante Smith-Pelly on unconditional waivers on Friday. They were put on waivers because the Devils are going to buy out of their contracts.
Cammalleri had two years left on his contract with an average annual value of $5 million. Smith-Pelly had one year left on his contract which was worth $1.3 million. Cammalleri’s buyout will be a $1,666,667 cap hit for the Devils while Smith-Pelly’s cap hit will be $175,000 for the 2017-18 season and $225,000 for the 2018-19 season, according to Chris Ryan of NJ.com. The move results in the Devils having a projected cap space of $27,680,832 under the $75 million cap.
Both forwards struggled last season. Cammalleri scored just ten goals and had 31 points, the fewest since the 2003-04 season when he had 15. He had 51 goals and 60 assists in three seasons with the Devils. Smith-Pelly had nine points and finished the season on injured reserve.
According to the Associated Press, Jussi Jokinen of the Florida Panthers, Jimmy Hayes of the Boston Bruins, Mark Stuart of the Winnipeg Jets, Lance Bouma and Ryan Murphy of the Calgary Flames were also put on unconditional waivers for buyout purposes. The Devils could go after defenseman Kevin Shattenkirk, who is one of the top free agents in the market, now that Cammalleri and Smith-Pelly are gone.
The Devils drafted Swiss center Nico Hischier last week in the NHL Entry Draft.