Cap management is not only a key component for teams contending for the Stanley Cup, it also goes for clubs in the early stages of a transition like the Toronto Maple Leafs. In the days and weeks leading up to the February 29th trade deadline, cap space flexibility and manipulation is an extremely valuable commodity.
The trade that sent Vincent Lecavalier and Luke Schenn from Philadelphia to Los Angeles for prospect Jordan Weal and a 3rd round pick on Tuesday was only made possible by the Flyers retaining 50% of each player’s salaries to keep the Kings under the salary cap limit.
It gives Los Angeles a rental defenseman and veteran forward that will provide depth for another potential Cup run, while allowing Philadelphia to escape Lecavalier’s bad contract (which had two years remaining before the Stanley Cup winner announced his plan to retire after the season). Leafs Team President Brendan Shanahan has not only used the financial resources of the Maple Leafs Sports and Entertainment to hire Mike Babcock away from the Detroit Red Wings, add Lou Lamoriello as GM, revamp the scouting staff under Director of Player Personnel Mark Hunter and devote an entire department towards the study of analytics, but has also been creative in freeing the club of the onerous contracts of David Clarkson and Phil Kessel.
The stars were aligned for Toronto to be able to move Clarkson to Columbus for injured winger Nathan Horton, who were on the hook for the remaining five years of Horton’s $37.1 Million contract because it was not insured.
The Blue Jackets got someone who could actually be in their lineup, while the Leafs escaped Clarkson’s buyout-proof deal and the ability to place Horton on long-term injured reserve and free up over $5 Million in cap space for the next five years.
The Leafs made trading Kessel more palatable to the Pittsburgh Penguins by retaining 15% of the winger’s $8 Million salary for the seven years left on the deal. If they had not, it is unlikely they would have received prospect Kasperi Kapanen or the conditional first round pick in the trade.
More cap-related moves could be coming in the weeks leading up to the deadline. Toronto has over $6 Million in available cap space and could have more when they begin to move players off their roster for draft choices and prospects. Lamoriello could use that cap space to take on a contract from a team looking for room to make a deal for a price.
Defenseman Stephane Robidas’ $3 Million salary can be placed on LTIR if the Leafs need more room to make deals or could be moved to another team to create cap space for them.
A significant accomplishment for the Leafs would be to move another big contract off the roster, such as Dion Phaneuf or Joffrey Lupul. Phaneuf has played better under Babcock and may be staying for awhile, but Lupul has faded after a good start and another trip to the injured list.
One possibility is pulling off another Clarkson-type deal with a team with budget restrictions like Lamoriello’s former employer, the New Jersey Devils. The Devils are in the thick of the Eastern Conference wild card race and in need of offensive help, but have nearly $5 Million in salary Ryane Clowe’s salary on their payroll for this season and two more (the same contract length as Lupul).
The Devils are unable to put Clowe on LTIR because they are over $9 Million under the cap, but unlike Horton insurance is at least partially covering the veteran winger’s salary (who retired in September due to concussion issues).
GM Ray Shero might not be as desperate as Columbus was to make a trade of that sort, but it would be a way for New Jersey to keep within their budget and add players for the stretch drive, while giving Toronto another LTIR candidate.
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Leafs prospect Dmytro Timashov returns from a successful run at the 2016 World Junior for Sweden and has been promptly traded by his QMJHL club. The Quebec Remparts have traded the 2015 Toronto draft choice to the Shawinigan Cataractes for three draft picks.
The 19-year-old is currently 10th in league scoring with 18 goals and 35 assists in 29 games, and accepted the trade after making indications prior to the WJC that he would not waive his no-trade clause to leave Quebec.
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