I suppose, but if he was a ticking time bomb, why would LA move him to get a equally terrible contract in Phaneuf?
I'm sure they had it in the back of their minds that he could get hurt, but I still think they got very lucky. Even a guy that is a ticking time bomb could be healthy enough to play half a season and negate insurance paying a dime.
LTIR isn't the exact same as free cap space. It can still handicap teams since they only get back the amount they exceed the cap by at the time the put the contract on LTIR.
Phaneuf was still perceived as a top 4 D at the time coming off of that run we had. The issues with us moving Phaneuf were always his NTC and his cap hit restricting the market.
If I am recalling correctly, LAK were in on Phaneuf dating back to when Toronto originally shopped him, so they liked the player. So I think it was probably a situation where they saw a chance to acquire a #4 defender they liked for essentially salary/cap considerations and no real assets beyond that. Almost like they signed Phaneuf as a UFA. It's hard to quantify what their actual added cap obligation is with Phaneuf because currently they wouldn't get back the entirety of Gaborik's contract via LTIR since they aren't spending to the ceiling, so while Phaneuf has a 5.25M cap hit for them this year, in practical terms because they dumped Gaborik it's probably closer to 3 or 4 something depending on where their cap wise on day 1 of the season.
It's crazy to think that two guys playing a combined 43 minutes for us during 16-17 when we were an alright team who went on a great run are now basically done only two years later.