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Jersey Devils Re-Sign Miles Hours Before Arbitration Hearing
Photo credit: NHL.com

NEW JERSEY DEVILS RE-SIGN F MILES WOOD HOURS BEFORE ARBITRATION HEARING

AUG 4, 2022  (21H47)      JON
The New Jersey Devils have signed F Miles Wood to a one-year contract extension worth $3.2million. The signing is announced just hours before his scheduled arbitration hearing on August 5th:


Per Frank Seravalli, the two sides were only $875,000 apart in negotiations heading into arbitration. Wood's camp filed a $3.85M offer and the team a $2.975M offer.

The New Jersey Devils drafted Miles Wood 100th overall in the 2013 NHL Entry Draft. Since, he has played 326 games with the Devils, scoring 65g-56a-121p and racking up 351 PIMs. The 26-year old is one year removed unrestricted free agency and filed for salary arbitration for the second time in his career this summer. With New Jersey tight against the salary cap, a trade is likely, as most players who go through the arbitration process tend to either be traded or sign elsewhere in the years after.

With the deal official, New Jersey now has in salary cap space. After so many years near the bottom of the NHL and spending near league-minimum, the Devils are spending to the cap in 2022-23. The good news in that regard is, as of today, New Jersey only has $44.5 million committed going into 2023-24. Meaning whatever happens this year, they go into next summer's deep free agent frenzy with lots of cap space.
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