Again, cap space is an asset.
Laffy is also going in the deal.
You are not getting value on the surface but I think that kind of deal saves some face, opens flexibility, and prevents you from a possible mess with laffy's contract this summer.
Just because there is not a clear view of where the money would be spent today doesn't mean that having the flexibility to make something wont be invaluable. and you bring up trying to make space for next summer, let me ask you this: do you think it would be easier to clear the salary this summer or next summer when panarin is a year older (almost 33) and multiple other teams will be looking to clear salary to go after those same players? it is smarter to do it now if you can.