Sorry take away 7.5M from 32 and you still get a net 20M loss. The point still stands that if this was financially motivated it is still a loss.
Still remains to be seen if the Leafs can turn any of the assets into something as well. Michalek is on our top line, who knows maybe he fetches us a draft pick. Lindgren might turn into something, or maybe the 2nd does. Who knows.
Just have to think why would the Leafs willingly eat so much cap damage just to get out of his deal long term? They seen the decline over the past few years as well..
Couldn't resist...
How come it is still a loss? Phaneuf cost 33.0 for 5 years, on average 6.6 per year. He was NEEDED on the team, as we have missed a veteran #2/3 since we let Gonchar go (he was getting old)
The team was able to financially get away from almost 12.0 by trading 3 UNWANTED contracts (Michalek is still a serviceable player but it was time to move on and give his role to a much younger/cheaper player (Dzingel))
So basically, the NET cost for Phaneuf on the team (in $$$ you know) is about 21.0 for 5 years, which is about 4.0 per season. It is perfect for the Sens, and for them it's all about money and NOT cap space. The team hasn't spend to the cap in a decade.
BUT DON'T WORRY MY FRIEND, you will sleep well tonight after what I will tell you right now : that has nothing to do with the Leafs and their motivations to make that deal. That's great if it helped them, but I am explaining you from a Sens POV why this deal is great for them.
Really guys? You are counting on your top 2 prospects panning out to their ceilings here. Brown has tons of question marks and Chabot is not guaranteed to be a top pairing D.
Sens are not only counting on Brown and Chabot. They have several solid prospects like White, Perron, Dahlen, Chlapik, Gagne, Englund, Jaros, Hogberg, Paul... Some of them will succeed you can be sure. The Sens are good at drafting and developing NHL players. Well, they have no choice because they are not rich like Toronto, Montreal or the Rangers...