Devils Re-Sign Parise

NJ Devils Finally Get Zach Parise Signed

Devils Press Release:

NEWARK, N.J. (AP) — The New Jersey Devils have reached an agreement with high-scoring left wing Zach Parise on a one-year contract. In making the announcement late Friday afternoon, Devils president and general manager Lou Lamoriello said the two sides were continuing to work on a multiyear deal. The Devils had filed for arbitration with Parise in June. The hearing had been set for Aug. 3. Parise earned $5 million last season, a year in which he was limited to 13 games and three goals by a knee injury that required surgery. He had been the catalyst of the Devils’ offense the previous four seasons, scoring 146 goals.

PattyB:

This is very interesting news mainly due to the fact that its only a one year deal and following it, he will be eligible for Unrestricted Free Agency. The Devils realize how much he means to their organization, but they seem hesitant to cater to all of Parise's desires. This particular contract was made possible by their trade with the Islanders, but this is only the answer to a small part of the Parise problem the Devils have. It will be interesting to see if the Devils are able to get him signed to a long-term deal, which I believe they will ultimately be able to do.

Contract Terms:

LENGTH: 1 YEAR(S)     VALUE: $6,000,000     TYPE: STANDARD     EXPIRY STATUS: UFA
SEASON	AHL SALARY	NHL SALARY	P. BONUSES	S. BONUS	CAP HIT
2011-12	$6,000,000	$6,000,000	$0	—	$6,000,000