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A somewhat stunning events considering the past couple of weeks, but word around Ottawa right now is that Chris Phillips is close to re-upping with the Ottawa Senators. Pretty crazy, considering Phillips had been dangled on the trading block for close to a month leading up to the trade deadline.

The rationale behind this move is simple - Ottawa's moved enough veteran pieces taking up far too much salary space, and now have the financial flexibility to consider an extension for a staple of this franchise. Calling Chris Phillips an elite defender these days is asinine, but there's no denying that he's a very capable top-four defenseman and should help the defense as they undergo a huge youth movement in the next couple of years. Best of all? There's a good chance Phillips could take a bit of a hometown discount, meaning a veteran presence at a fraction of the cost.

Phillips has been pretty awful this year, all things considered, but the team is hoping the likes of David Rundblad, Jared Cowen, and Erik Karlsson and their potential succeed at the highest level could return Chris Phillips to usual form. Phillips was a rock when paired with Anton Volchenkov, but has lost his step ever since the A-Train moved over to New Jersey.

Bryan Murray didn't exactly make it a secret that he was shopping Chris Phillips at the trade deadline, and although multiple inquiries were made about acquiring the #1 draft pick of the 1996 NHL Entry Draft, Phillips had a no-trade clause that really tied the brass' hands. Phillips never came out and said he wouldn't waive it if a deal arose, but he was quite clear in saying that he'd love to be an integral part of the franchise heading forward during the rebuild. In short: Unless it was a great deal for Phillips and his family, it wasn't happening.

More details on this as it comes through, but just like the Alex Kovalev deal, I feel very confident in posting this and expect to hear word on a potential contract very shortly.

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