The Tampa Bay Lightning have traded Ryan Callahan and 2020 5th round pick to the Ottawa Senators for Mike Condon and a 2020 6th round pick.
Cap Friendly: The financial implications for the Ottawa Senators.
“Cap hit change: +$3,400,000
Salary expenses: -$2,060,000
This trade helps keep the Senators above the lower limit, while also decreasing the salary expenses.”
Puck Pedia: “After trading Condon for Callahan, the #Senators have $64.085M Cap Hit committed ($17.4M of Cap Space) to 22 Players (14F/6D/2G).
RFA: Colin White
It is likely that 3 F’s (Callahan, Gaborik, MacArthur) spend the season on Injured Reserve.”
After trading Callahan, and assuming both Condon & Domingue will be assigned to the minors, we now show the #Lightning with $11,126,669 in projected cap space, based on a roster size of 20 (10F/8D/2G)
Two RFA’s remain unsigned: Brayden Point & Adam Ernehttps://t.co/qIBiAOS50x pic.twitter.com/GYegk2eZs0
— CapFriendly (@CapFriendly) July 30, 2019
#Sens are estimated to save $10.1M from injury insurance, & saved $5.5M in signing bonus expenses by trading for players whose SB were already paid
While we project the club to have a cap hit of $65.9M, their estimated NHL roster salary expense is $47.5M
The cap floor is $60.2M pic.twitter.com/JExcfvP3Z2
— CapFriendly (@CapFriendly) July 30, 2019
Hear from #Bolts GM Julien BriseBois on Ryan Callahan, cap space, the addition of Mike Condon, and how our goalies will sort out for the upcoming 2019-20 season. pic.twitter.com/sRUlYZF2MQ
— Tampa Bay Lightning (@TBLightning) July 30, 2019
Thoughts from the media
Ian Mendes: “I’ll give Julien Brisebois a ton of credit for being able to move two contracts this summer in JT Miller & Ryan Callahan and not paying a heavy price to do so.”
- Matthew Sekeres: “Not only did he not pay a heavy price, he got two picks from Vancouver.”
Steve Lloyd: “Callahan’s cap hit is 5.8m, but he’ll make 4.7m in real money. Since he’ll be in LTIR with a career ending back injury, insurance will pick up 80% of that, which means the Sens will be on the hook for around $940,000. Condon’s cap hit is 2.4m, but he’ll make 3m in real money.”
Marc Dumont: “Here’s an idea for NHL teams: don’t help your competition out of cap trouble unless it’s for a significant premium. Or keep doing it, what do I know? For every whale, there’s bound to be a remora or two to filter out the garbage.”
- Dylan Galloway: “My favourite part of the Sens trade is that they refused to trade with teams in their Conference when it came to potential big returns like Hoffman and Karlsson, but have no problem giving a helping hand when it comes to cap relief.. ridiculous”
LW3H: “The Sens have gone from “won’t trade Hoffman within the division” to “let’s solve all our divisional opponents’ cap problems” in record time”
Ryan Callahan
Mike Condon