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NHL Free Agency: Kyle Palmieri signs five-year deal with New Jersey Devils

By Dave Stevenson

Dec 15, 2015; Buffalo, NY, USA; New Jersey Devils right wing Kyle Palmieri (21) and Buffalo Sabres defenseman Rasmus Ristolainen (55) go after the puck during the third period at First Niagara Center. New Jersey beats Buffalo 2 to 0. Mandatory Credit: Timothy T. Ludwig-USA TODAY Sports
Dec 15, 2015; Buffalo, NY, USA; New Jersey Devils right wing Kyle Palmieri (21) and Buffalo Sabres defenseman Rasmus Ristolainen (55) go after the puck during the third period at First Niagara Center. New Jersey beats Buffalo 2 to 0. Mandatory Credit: Timothy T. Ludwig-USA TODAY Sports /
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The New Jersey Devils have announced that restricted free agent forward Kyle Palmieri has signed a five-year deal worth over $23 million.

After trading for Edmonton Oilers forward Taylor Hall, the New Jersey Devils’ top offseason priority changed to signing their own 30-goal scorer, Kyle Palmieri, long-term. The Devils have announced that Palmieri has agreed to a five-year deal with an annual cap hit of $4.65 million.

Signing Palmieri long-term ensures that the Devils have two very talented wings in Hall and Palmieri. It’s impressive how far they have come in just over a year.

From NHL.com:

"Palmieri, 25, led New Jersey with a career-high 30g-27a- 57pts, while playing in all 82 games this past season. He also added 11g-12a- 23pts on the power play, all new personal bests. Palmieri was acquired from Anaheim on June 27, 2015 for a second-round choice in the 2015 Draft and a third-round selection in 2016."

Getting Palmieri signed for under $5 million a season is a terrific bargain for the Devils. Granted, they are banking on him repeating his numbers from the 2015-16 season. However, his 13.5 percent shooting percentage in 2015-16 isn’t that outrageous considering his career shooting percentage is 11.9 percent.

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He likely won’t score on 13.5 percent of his shots in 2016-17, but he’s clearly a very good shooter who can consistently generate offensive chances. That has a ton of value even if he’s not getting the puck in the net.

For more NHL Free Agency rumors, check out our NHL hub page.

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