New Jersey Devils

NHL Trade Rumors: Cash Strapped Devils Considering Dealing Parise?

PITTSBURGH, PA - JANUARY 07:  Zach Parise #9 of the New Jersey Devils during the NHL game against the Pittsburgh Penguins at Consol Energy Center on January 7, 2012 in Pittsburgh, Pennsylvania.  The Devils defeated the Penguins 3-1.  (Photo by Christian Petersen/Getty Images)
Christian Petersen/Getty Images
Tom Urtz Jr.Contributor IJanuary 24, 2012

A few weeks ago, I posted a story questioning whether or not the Devils would re-sign Zach Parise. It was met with a mixed reception on how Parise loved being a Devil and wouldn't want to sign with another team.

However, it now appears that the Devils may not have a choice in the matter due to their current financial state of affairs.The fact is that the Devils are considering trading Parise due to their tough financial situation.

The New York Post posted this update on the Devils situation.

The Devils, who need to meet payroll twice a month until the end of regular season, are considering trading team captain Zach Parise for draft picks.

Parise is set to become an unrestricted free agent this summer and the team’s reported financial woes could put the Devils in a tough situation as to whether they can or are even able to re-sign him.

The 27-year-old is earning a $6 million cap hit this season and his value is only expected to go up as he has posted 15 goals and 24 assists for 39 points in 47 games this season.

With the Devils having to pay double the usual amount for the next four months, it is really starting to appear that they will have to part with Parise. It isn't an ideal situation, but the team's finances are in flames.

The New Jersey Devils are on the verge of bankruptcy and the NHL could step in and take control of the team like it did with the Phoenix Coyotes.

If the NHL gets involved, things don't bode well for Parise remaining a Devil. It is all good and well that Parise has said he loves playing for New Jersey, but they may not even be able to afford him even if he took a significant hometown discount. As it currently stands, Parise's contract weighs a lot against the team's finances.

The NHL will make business decisions for the team in order to get it out of the red. These decisions could be unpopular, but the league would do what makes sense to get the payroll in check.

The Devils are expected to lose $20 million this season on top of the $80 million loan they have yet to repay since missing the Sept. 1 deadline.

If the NHL gets involved, this move could occur shortly. The NHL's job will be to take this floundering financial situation and make it profitable once again. They will do this by cutting as much salary as possible. The league and team would not want to see Parise go, but he is an expiring contract who makes a lot of money.

However it is not out of the question that if the Devils traded Parise and got their finances in order, they could attempt to sign him as a free agent on July 1. With the trade deadline slowly approaching, Parise may be the biggest chip on the open market.

 

Tom Urtz, Jr. is an NHL featured columnist. For NHL news, updates and alerts about players:

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