James Reimer 33 percent retained and a 2020 2nd Round Pick
for
Mike Condon and Ben Harpur and a 2021 3rd Round Pick
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Notes:
1) FLA will bury Harpur and get the full cap hit back. If they play him, his cap hit is near league minimum and he takes up a roster spot.
2) FLA will buyout Condon for 400k this year and 1M next year.
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Florida's Side of Things re: Cap Space
Total dead cap throughout lifetime of those two contracts and Reimer's retained salary=3.644M
Total dead cap throughout lifetime of a Reimer buyout=5.483M
Result: FLA saves nearly 2M in cap space.
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Ottawa's Side of Things re: Salary
Total salary owed to Reimer=4.092M
(6.2 with 33 percent retained)
Total salary owed to Condon/Harpur=3.8M
Result: Ottawa adds only 292k in salary
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Supplementary Trade
Craig Anderson to PHI for a 2020 3rd Round Pick
(Sens can retain up to 50 percent of Anderson's contract and end up spending less total money than they would have if they kept Anderson and did not acquire Reimer to replace him. Still, they probably would ideally like to not retain)
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Justification for the swap of draft picks
-The Senators aren't really getting an upgrade over Anderson. More of a change of scenery.
-Reimer is owed lockout proof signing bonuses.
-Florida is saving 2 million worth of cap space.
-This trade allowing the Senators to get a pick for Anderson from a third team helps subsidize the cost of the deal for FLA.
-Sens do the deal for the soft return because when dumping Anderson's salary is figured in, they could walk away with a net gain of a 2020 2nd and close to 4 million off the books.