Devils sign Palmieri to 5-year contract extension

The New Jersey Devils signed forward Kyle Palmieri to a five-year, $23.25-million contract extension Thursday.

The deal carries an average annual value of $4.65 million, with a breakdown as follows:

Palmieri tied Adam Henrique for the team lead with 30 goals and led all New Jersey skaters with 57 points in 2015-16.

The 25-year-old avoided arbitration by signing the new contract. He was the lone Devil to file before the deadline Tuesday.

General manager Ray Shero said in March that he planned to have Palmieri signed this summer.

New Jersey now has about $13 million in cap space with only one free agent - restricted forward Reid Boucher - unsigned, according to General Fanager.