The NHL salary cap is increasing and will continue to do so in the coming seasons. It could rise to $113.5 million in the 2027-28 season. Moreover, in December 2024, NHL commissioner Gary Bettman stated that the salary cap for the upcoming season was projected to be $92.4 million, a $4 million jump from last season’s $88 million.
Eventually, during his appearance at the NHL Board of Governors meeting in Florida, Bettman said that an even greater increase is possible, subject to discussions and negotiations between the NHL and the NHLPA. In tandem with the rising salary cap, NHL players are commanding previously unheard-of salaries.
Under such circumstances, management across the league is keen on striking the most efficient deal. The New Jersey Devils seem to have achieved just that with regard to franchise cornerstone Jack Hughes.
Insider Lauds the New Jersey Devils for Jack Hughes Contract
The Devils finished third in the Metropolitan Division of the Eastern Conference last season with 42 wins and 33 losses. Hughes, who has spent his entire NHL career with New Jersey, accumulated 70 points in 62 regular-season games and averaged more than 20 minutes on the ice per game.
Hughes, drafted No. 1 overall in 2019, has progressively improved. In Game 1 of the first round of the Eastern Conference in the 2023 Stanley Cup playoffs, the 24-year-old became the first player among the Devils/Rockies/Scouts to score a penalty-shot goal in the postseason.
In the 2022-23 season, Hughes hit a career-high moment, scoring 99 points in 78 regular-season games. He is a reliable point-producer, and according to Dom Luszczyszyn, a steal at his cap hit of $8 million. Luszczyszyn stated that Hughes was, without a doubt, the best deal across the league.
“The best contract in hockey belongs to Jack Hughes,” Luszczyszyn said. “As the cap continues to climb, Hughes’ modest $8 million cap hit continues to look more audacious each season. And there’s still five years remaining on it.”
From Jack Hughes to Tim Stützle, my annual look at the 10 best contracts in hockey.https://t.co/1s62wcICLU pic.twitter.com/4ynu78e9c1
— dom 📈 (@domluszczyszyn) July 29, 2025
Many top NHL players continue to drop jaws as they sign hefty contracts. Leon Draisaitl of the Edmonton Oilers signed a contract worth $112 million with an average annual value of $14 million. Mitch Marner’s contract with the Vegas Golden Knights is worth $96 million with a cap hit of $12 million.
In comparison, Hughes’ deal, signed in 2021, appears a steal for the kind of player he is.
“The Devils get a franchise center, a borderline MVP threat and one of the league’s most impactful players,” Luszczyszyn said. “Going into next season, only seven players are projected to provide a bigger game-to-game impact than Hughes. Over the life of his deal, Hughes has a very real chance of becoming a top-five player in the sport.”
Hughes is a former first overall draft pick yet to reach his prime; the 24-year-old has sufficient time to flourish and improve his game even further.
As Luszczyszyn argues, because his price tag is so economical, Hughes has had ample opportunities to live up to it, and looking at his performance over the past few seasons, he certainly has.
