Official: New Jersey Devils Resigned Travis Zajac to a 4 Year, $3.887/Year Cap Hit Deal

by John Fischer on Jul 22, 2009 5:02 PM EDT in Devils Issues, Views & Analysis

The Devils do not need to worry about arbitration this summer as Tom Gulitti has reported that the New Jersey Devils resigned Travis Zajac to a 4 year, $15.55 million deal, breaking down his salary by season. This is a cap hit of approximately $3,887,500 as Zajac's salary will increase as such:

Season	09-10	10-11	11-12	12-13
Travis Zajac	$2.75 mil	$3.5 mil	$4.5 mil	$4.8 mil

This deal places Zajac with the fourth highest cap hit among the Devils roster. Truth be told, I'm a little surprised that Zajac got this much money given what David Krecji got back in June. Though if Zajac can continue to develop off his solid third season in the NHL, then it'll be money very well spent. And I'm sure the fact that Zajac is the team's top center and their only definitive offensive center had to play some role in his new salary structure.

Regardless, I'm very glad the Devils did avoid arbitration given the team's recent history with that. The relationship between Zajac (and his people) should remain solid with the team for the foreseeable future. Given his role on the team and his potential, that they agreed to a deal in advance of arbitration was very important. I love the deal largely for that, despite the money taking me back a bit. Speaking of money, the deal sets up Zajac very well. In addition to having his salary increase by $2.05 million in 4 years, he'll become an unrestricted free agent at age 28 when this contract ends. At that time, he could potentially be in a position to make ludicrious amounts of money. For now, both sides are happy per Gulitti's and Chere's posts reporting the signing. I'm happy with the signing and I imagine most Devils fans are happy about this deal - like the two FanPosts announcing the deal on the side there.

Thanks to Mandmeisterx and Puznik11 for their FanPosts alerting readers to this news in advance. Share your thoughts in the comments. Or least vote in this poll.

Poll

The Devils re-signed Travis Zajac to a 4 year, $15.55 million deal. Do you like the signing?

I love it!

188 votes

I like the signing.

152 votes

I'm on the fence/in the middle on the signing

30 votes

I don't like the signing

6 votes

I hate it!

2 votes

378 votes | Poll has closed

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Comments

it was really important to get travis back and locked in for more than just the year or two arbitration would have done. the cap hit seems a bit big now but like you said, if he continues to progress it will be money well spent.

by dsarch on Jul 22, 2009 5:12 PM EDT reply actions

Question

Here’s the question: Where does this leave us in the free agent market?

If I’m not mistaken, this puts us right around 49.5-50 mil right now (see http://www.hockeybuzz.com/cap-central/team.php?team=NJ. Add 3.88 mil to the 45.55 mil they list our salary at), which is what people have been saying the cap may drop to next year.

We definitely have money to sign someone to a 1 yr contract, but with the predicted decrease in salary cap, and with Mottau and Martin set to be UFA next year, and Clarkson, Bergfors, and Pelley set to be RFA, do we still have enough money to sign a quality second-line center?

by hocke26 on Jul 22, 2009 6:13 PM EDT up reply actions

Per NHL Numbers, the Devils are committed to $49.546 million of the salary cap. Per Cap Geek, the Devils are up to $50.12 million.

You pretty much have it right in that the Devils really do have money to sign someone to a 1 year contract this season – and this season only.

My feeling is that for next season, someone’s getting traded and I think that may be the way the Devils upgrade over Zubrus – should they upgrade him at all.

Devils in my heart! Devils in my mind! Devils in my eyes! Devils until I die!
In Lou We Trust - The Devils SBN Blog

by John Fischer on Jul 22, 2009 6:28 PM EDT up reply actions

It's a bit much...

…so Lou might trade him if he doesn’t play up to the money, and the Devs need cap space. By that, I mean playing like he should be making 1-2 mil

Upgrading over Zubrus is a much better option.

by Nothinggoespast on Jul 22, 2009 6:36 PM EDT up reply actions

I fear it could be someone else who could be traded. Who’s got a large expiring contract?

And before you tell me, “No way” remember that it costs talent to get talent.

Devils in my heart! Devils in my mind! Devils in my eyes! Devils until I die!
In Lou We Trust - The Devils SBN Blog

by John Fischer on Jul 22, 2009 6:49 PM EDT up reply actions

If you mean who I think you do,

you just made me cringe badly.

by Mandmeisterx on Jul 23, 2009 7:03 AM EDT up reply actions

cap room in the 2010-2011 season

i’ve said before and i continue to think that if the cap does go down in that season, one relatively painless thing they could and (IMHO) shoud do would be to waive pandolfo and let him play out the last season of his contract in lowell, which they would have to pay but would not count against the cap…that’s 2.5 million right there which likely would be 50% of what could be a 5 million dollar cap adjustment

by don in central jersey on Jul 22, 2009 9:10 PM EDT reply actions

As much as Lou might seem like Scrooge, simply waiving Pandolfo is tough. It’s tough to waive a guy like him who has been here 10+ years and then send him to the minors. Mogilny, McGillis and Matvichuk (at least Pandolfo doesn’t start with an M) weren’t with the Devils organization that long. I agree that the contract is hard to take. However, if the end of the road does come for Pandolfo I would hope that instead of being sent to the minors he was bought out and if he still wanted to play he could play a final year with his hometown Bruins. He always really seems to enjoy going there when we play them.

by NJmetal15 on Jul 22, 2009 9:46 PM EDT up reply actions

Perhaps. But a buyout means the Devils are on the hook for some of his salary at least. According to Cap Geek, to buy him out this summer means the Devils will pay $833,333 per year for the next four years. Mind you, Pandolfo’s contract ends after 2011, but the Devils will still be left paying. All for…a total of savings of $1.66 million ($1.66 million saved this season and next, but the extra 2 years of eating the contract kills one of those seasons of savings)?

I’m not sure if a buyout makes sense at this point.

Devils in my heart! Devils in my mind! Devils in my eyes! Devils until I die!
In Lou We Trust - The Devils SBN Blog

by John Fischer on Jul 22, 2009 11:00 PM EDT up reply actions

Yes, I know that a buyout means eating some salary. Financially buying him out makes little to no sense in the big picture. Assume that the player to take Pandolfo’s role when he leaves averages 840,000 each season that he plays (round some numbers and make them nice).

Current contract
09-10 Pandolfo (2.5)
10-11 Pandolfo (2.5)
11-12 Replacement (.84)
12-13 Replacement (.84)
Total (6.68)

Buyout
09-10 Pandolfo (.83) + Replacement (.84) = (1.67)
10-11 Pandolfo (.83) + Replacement (.84) = (1.67)
11-12 Pandolfo (.83) + Replacement (.84) = (1.67)
12-13 Pandolfo (.83) + Replacement (.84) = (1.67)
Total (6.68)

So over the course of the 4 years it would take for the buyout to be complete the replacement player would have to be less than 840,000 to save money. If the player were more than 840,000 then it would cost us money.

The main point I was trying to make was if it came to Pandolfo not being in the organizations plans then a buyout seems more respectful to a respectable player who had been in the organization a long time. A buyout would at least let him sign with another team and not be stuck in the minors. I know that this is business and respect has nothing to do with anything but I think Lou has enough respect for Pandolfo not to send him to the minors. IMO.

Add Marshall to the list of M’s.

by NJmetal15 on Jul 23, 2009 12:35 AM EDT up reply actions

If you buyout pando and get a player who is paid over the .84 a year, and he plays better than pando, isn’t it worth a little extra cash? we talking about .83 million in cap here. And the way the Devils spend, i think we have .83 to give here.

However bottom line I do not think Lou is the type of guy who wants any type of dead cap space, but we shall see. Im sure Pando says where he is. The way Lou does business is a tough sell if you treat a player of Pando’s stature with the Devils that way. It would by hypocritical, no matter how much he hurts the team. But then again, If we only spend 50 mil. this year, hes not really hurting the teams cap anyway.

by they can take a player but not the core on Jul 23, 2009 12:48 AM EDT reply actions

Let’s wait until after this year to judge Pando. Pandolfo was expendable last year because we had a surplus of 3rd/4th line forwards, and we had players like Madden, Rupp, and Shanahan to control the defensive forward position.
Right now, people are hoping Rod Pelley adequately fills Madden’s role. Bottom line: Pandolfo was not worth his salary last year. But, this year, with a few young guys supposedly filling the roles of the 3rd/4th liners who left, having a veteran like Pandolfo around to provide some stability may prove invaluable.
I’m not saying he’ll still be worth 2.5 mil, I’m just saying that his experience may prove helpful, if not invaluable, while we work the younger players into the lineup

by hocke26 on Jul 23, 2009 3:42 AM EDT reply actions

A little rich for my blood.

But if he continues to develop into the solid 2 way center I (and a lot of other people) think that he can be, this will seem like a steal in 2 years.

by Mandmeisterx on Jul 23, 2009 7:08 AM EDT reply actions

Vis a vis a question about relevancy of this discussion:

Zajac’s signing means the Devils have far less cap room to play with as Zajac is now making just under $4 million under the cap. I even noted this in the article. Someone brought up Pandolfo’s salary as a means to create more space. While it’s not directly on topic to Zajac’s signing; but it is relevant in the larger picture of the salary cap. So I’m allowing it (and hence, I even took part)

Basically, Zajac has to continue to develop or the money will really hurt NJ should the cap fall next season as Lou thinks it will.

Devils in my heart! Devils in my mind! Devils in my eyes! Devils until I die!
In Lou We Trust - The Devils SBN Blog

by John Fischer on Jul 23, 2009 4:46 PM EDT reply actions