It has felt like a remarkably slow off-season for the New Jersey Devils. Aside from a few moves at the start of free agency, not much has happened in the past month when it comes to trades or roster changes.
And it’s not just the Devils. A recent post from @NHL_Rosters pointed out that the NHL hasn’t had a trade since July 25. Today is August 28, when the San Jose Sharks acquired Oskar Olausson from the Colorado Avalanche in exchange for Danil Gushchin.
There hasn't been any trades in the NHL since July 25th. There were 8 trades during August of last year, plus the Dylan Holloway/Philip Broberg offer sheets.
— NHL Rosters (@NHL_Rosters) August 28, 2025
That’s right, one month and three days without a single trade. The Devils aren’t alone here; the entire league seems to have been on pause since just a few weeks after free agency opened.
This is unusual. Last August, there were eight trades across the NHL. Now, as we approach the final days of the month, it looks like August will close out with zero.
So why the standstill?
There isn’t just one answer. Some teams may simply be taking the time to map out their long-term plans. For the Devils, it likely comes down to managing cap space and preparing for a new long-term deal for 21-year-old defenseman Luke Hughes.
New Jersey currently sits just under $7 million in cap space. Not every team is as fortunate; many are already over the limit or right up against it. That’s allowed in the off-season, but teams must be cap-compliant by opening night.
Of course, there’s still time. In the next few days, the Devils, or any team, really, could make a splash that shakes up the league.
Still, August has been uneventful. The Devils don’t open their 2025–26 season until October 9, giving GM Tom Fitzgerald plenty of time to maneuver. He’s made it clear that locking up Hughes before then is a top priority.
The question is: at what cost? Signing Hughes could mean moving out another player currently eating up cap space.
When that deal will be finalized remains unknown. But one thing feels certain: the off-season won’t end quietly. Big news could drop any day now.