Confirmed with Link: BLOCKBUSTER: Phaneuf to Ottawa in 9 Player Trade

[J0sh]

Alright, I'm not thrilled about Phaneuf's contract long term but lets look at the positives.

We are still quite a bit under the cap this year so what rentals are available?

 

[Golden_Jet]

Good trade for both sides I agree.
Phaneuf real money next 5 years is 7.5, 7, 6.5, 6, 5.5

 

[Scrub*]

BM: "Phaneuf will likely play with Ceci, says Phaneuf is happy about being in Ottawa"

 

[finchster]

As an outsider, I think this is a damn good trade for Ottawa. Phaneuf is no number one but he could be a very good number two for a team like Ottawa.

 

[BonkTastic]

REAL SALARY TALK:

Dion Phaneuf, signed a 7 year, $49mil deal in 2014.
2014-15 - $8,000,000 ($3.5mil of which was signing bonus)
2015-16 - $8,000,000 ($2mil bonus)
2016-17 - $7,500,000 ($1mil b)
2017-18 - $7,000,000 ($1mil b)
2018-19 - $6,500,000 ($1mil b)
2019-20 - $6,500,000 ($1mil b)
2020-21 - $5,500,000 ($2.5mil b)

1) This year, the Leafs have already paid out ~$5.75mil on Phaneuf's contract (his $2mil signing bonus, plus $3.75mil in salary so far), so we're getting him for essentially $2.25mil in real dollars from now until the rest of the season. That's a discount, especially considering the Leafs paid him 25% of his entire year's salary in one lump sum before the season started, so we essentially are getting a guy on a $6mil salary, minus all the money the Leafs have already paid him on the year.

2) Going forward, minus the rest of this season, we will owe him $33mil over 5 years, for an average of $6.6mil per year. So when you look at his "cap hit", don't think $7mil, think $6.6mil. That's what we owe him, on average.

3) The NHL contracts we are sending out are Michalek ($4mil next year), Greening ($3.2), and Cowen ($4.5), for a total of $11.7mil in outgoing salary... $7.2 of which was basically completely useless.

4) Let's pretend that Michalek offers good value on a $3mil contract, and that he's overpaid by about a mil per year. Using that framework, we sent away over $8mil in bad money to get Phaneuf, AND we had Toronto pay out a decently sized front-loaded chunk of Phaneuf's contract ($11.75mil of his $49mil deal for 1.5 years, which is not insignificant at all).



... basically, I would almost consider the amount of bad dollars we sent the leafs to be MUCH worse for us than having a slightly overpaid (by maybe a mil per year, the guy is still a good defenceman) Phaneuf.

Like, pretend Phaneuf made $5.5-6mil per year. Would you trade a 2nd rounder and Lindberg for that? HELL YES YOU WOULD. That's basically what we did here.

 

[Alfie#11]

That thread about Murray's legacy? Close it. This is it.

This is an amazing deal for a budget team. People are talking "it's a hockey deal" because no salary was retained but I would argue that money is all over this deal and it's remarkable how Murray was able to make a deal that will help the team at the same time as manage the budget.

First Phaneuf has a declining salary from this year on. In the last 3 years of his deal, his salary will be lower than his cap hit. That should give the Sens some flexibility. Also makes the last years of his deal easier to digest if he declines a lot. Phaneuf is a top 4 defenceman now, but I kind of expect a Phillips decline.

Cowen and Greening are not contributors to the team and carry sizable contracts. Not only that, their salaries jump next season by 800k (Cowen) and 450k (Greening). Dumping them is big when there's little money to play with.

This also avoids buying out Greening, which I think the Sens were loath to do. Yes, it's cheaper than paying him a salary but you know they don't want to spend money if avoidable.

The think a key here is the Sens have added a $7.5 million commitment in Phaneuf next season but moved out $11.7 million. This deal will really help next years team.

Michalek is a bummer to lose but his injury history makes it easier to deal with. Great guy to have when he's healthy but a budget team should avoid spending a big chunk on a guy that often injured I guess.

Of the prospects changing hands I think Lindberg may be the best, but none (AFAIK) are more than projected depth guys. The 2nd (next season - bonus!) is more of an asset.

So the Sens get a top 4 defenceman while moving out big money. They assume the larger long term obligation but make out short term. When money is tight, you have to be creative and this is it. Deal with any issues at the end of next season. Leafs pay a bunch of guys they will have no problems buying out if they want or can ditch at the end of next season - they free up money long term. I still think Cowen has some potential too. It just wasn't going to happen here.

Never thought a deal like this would happen with the Sens and Leafs. Ultimately, it's just a much need top 4 defenceman and not a superstar. Still, Murray basically moved all the contracts you would want to move in a deal that gets the team a real need. Amazing deal for a team with the Sens circumstances.

 

[jbeck5]

Dont know if its been said, but leafs with kadri and cowen lol

 

[SENSational Sens Fan]

Bm:"Phaneuf will likely play with Ceci, says Phaneuf is happy about being in Ottawa"

Apparently, we were one of the teams on his list he would accept a trade to.

 

[Senscore]

After the last few trades I'm just gonna wait this one out. I really liked Lindberg, and I'm not that crazy about Phaneuf. We did get rid of several bad contracts though.

It could work out but I'm just gonna see what happens. It can also backfire.

 

[Ouroboros]

Weird trade. For both teams.

 

[Studzle]

This trade does so much for us, id much rather pay 7M for someone to actually play on this team and contribute positively then 2 healthy scratches and a player who was becoming frequently injured.

This also will hopefully reduce the minutes that Karlsson has to play as we will have a much more competent 2nd pairing. No more Weir with Ceci.

This is a great trade for both teams.

 

[jbeck5]

I thought injured players can't be traded? I guess i was wrong.

You can't lie about it.

The leafs know he's injured and accept it.

 

[PeterSidorkiewicz]

I'm going to the game tomorrow, hopefully I get to see Phaneuf in that red and black!

 

[Sens Rule]

Saw this on the Senators Instagram. My first thought was "It's not April first is it?"

I was legitimately bewildered by it. However, when I saw that we unloaded both Cowen AND GREENING.... HELL YEAH!

Damn good trade. Phaneuf is actually an NHL defenseman, unlike Cowen.

I got a CBC News update on my phone (of all things) and said Ottawa Senators acquire Dion Phaneuf in a nine player trade. And I thought is this April Fools? Nope it is CBC.

Then I worried we would have given up Hoffman or something... But just cap dumps mostly. Wow.

 

[Lenny the Lynx]

We just dumped:

• Jared Cowen: $3.1 Mil per year until 2018. Healthy scratch.
• Colin Greening $2.65 per year until 2017. Healthy scratch.
• Milan Michalek $4 mil per year until end of season. Injuries, Injuries. Injuries.
• Lindberg $693,0000 until 2018.

These are a bit off
All three have this year plus next.
Lindberg is on ELC so not 693k it's a two way contract. Probably like 60k

 

[TML1]

I wonder what Leafs fans think of this deal?

BRB.

Life long leaf fan here. I've found his best games are when you hardly notice him.
We all know players like this but they are not normally making 7 mil per year and that's for 5 more years!

 

[BondraTime]

Phaneuf on a 2nd pairing where he isn't the "guy" will be fantastic.

I don't care about the cap hit right now, we significantly improved our weakest position.

He also gives us a 2nd reliable offensive guy on the backend.

Just a great trade by Murray, absolute robbery.

 

[Very Stable Genius]

Holy moly....

 

[Step]

These are a bit off
All three have this year plus next.
Lindberg is on ELC so not 693k it's a two way contract. Probably like 60k

Just confirmed on hockeybuzz. You're right. This year plus next, sorry

 

[BK201]

I thought injured players can't be traded? I guess i was wrong.

Bought out.

 

[Larionov]

It's ridiculously obvious that the Leafs are clearing the decks for Stamkos. I didn't believe the Stamkos to Toronto chatter at first, but this intensifies it tremendously.

I actually hope that Jared Cowen finds his way in Toronto. I don't hold any bitterness towards him, and wish it had worked out for him here. It won't be a loss to the Sens even if he does develop in Toronto, as it was clear that he needed a change of scenery in order to have any chance of turning it around.

 

[jason2020]

It's ridiculously obvious that the Leafs are clearing the decks for Stamkos. I didn't believe the Stamkos to Toronto chatter at first, but this intensifies it tremendously.

I actually hope that Jared Cowen finds his way in Toronto. I don't hold any bitterness towards him, and wish it had worked out for him here. It won't be a loss to the Sens even if he does develop in Toronto, as it was clear that he needed a change of scenery in order to have any chance of turning it around.

There going to make a offer but most don't think he will sign in.

 

[YouGotAStuGoing]

It's ridiculously obvious that the Leafs are clearing the decks for Stamkos. I didn't believe the Stamkos to Toronto chatter at first, but this intensifies it tremendously.

I actually hope that Jared Cowen finds his way in Toronto. I don't hold any bitterness towards him, and wish it had worked out for him here. It won't be a loss to the Sens even if he does develop in Toronto, as it was clear that he needed a change of scenery in order to have any chance of turning it around.

This move adds additional salary to their cap until next season. Not the greatest time to be adding money.

 

[hockeycoach]

Looking forward to:
Karlsson & Methot
Ceci & Phaneuf
Borowiecki & Wideman
Wiercioch & ???

 

[Back in Black]

Phaneuf will be a good fit here!