And this is why we listen when Bob McKenzie says something.
The Ottawa Senators have acquired defenseman Dion Phaneuf, forwards Matt Frattin, Casey Bailey, and Ryan Rupert and undrafted defensive prospect Cody Donaghey from the Toronto Maple Leafs in exchange for defenseman Jared Cowen, forwards Colin Greening, Milan Michalek and Tobias Lindberg, plus Ottawa’s second-round pick in the 2017 draft.
No salary will be retained by either team.
From the Leafs’ perspective, the trade provides even more cap flexibility for their rebuild. Phaneuf is signed through 2020-21 for a cap hit of $7 million; he’s entirely on Ottawa’s books now. As for the guys coming to Toronto, Michalek, Cowen, and Greening are only under contract through next season, for a combined cap hit of around $10 million. And according to the Ottawa Sun’s Bruce Garrioch, both Cowen and Greening could be bought out by the Leafs this offseason.
The Sens, meanwhile, get to add a workhorse defenseman to a blue line that already includes Erik Karlsson. Plus, they rid themselves of some onerous contracts.