Reaching the floor won't be an issue if the Senators retain their current UFAs and RFAs.
-Ceci at 4.35M+ x 1 year (Has a 4.35M qualifying offer, so he isn't getting less)
-White at 4.5M x 6-7 years (Look at the Tuch contract signed last summer as a comparable)
-Wolanin at 1.2M x 2 years (Hard to predict this one, might be a few 100k less, doesn't really make a big difference)
-Nilsson at 2.5M x 3 years (Needs to be 3 not 2 because of expansion draft considerations, probably would be backloaded)
-Duclair at 2M x 1-2 years (Arbitration eligible forward on pace for almost 20 goals with around 300 career GP, he'll get more than people are expecting and it'll be a sizable raise from his current 650k)
-Paajarvi at 1.3M (They'll overpay him and a few other UFAs in order to keep some consistency in the room. It's easy to overpay a player like Paajarvi because the difference between a good and bad contract for him is only a few 100k.)
-Oscar Lindberg 1.8M x 1-2 years (I think more of a throw in, Vegas had to move somebody. I could see the Senators moving to try and keep him and other UFAs in order to maintain some stability in the room for so many guys moving on in such a short period of time. He is in no position to ask for a raise, but at the same time he's a bit of a mercenary who doesn't have to stay in this tire fire so we have to pay him.)
That's 17.65M spent on an additional 7 players. That brings the Senators up to 61.65 for a roster of 20 players. Add in another 3 bodies at 800k and the Senators are beyond the floor.
This isn't me saying that we don't have to make considerations with the floor in mind, because we're going to have to have a buffer so that we are a few million above the floor. That way, we do not get caught in a situation where we can't sell Ceci, Pageau, Anderson, etc early in the season if the right offer comes along. (By the deadline, we've paid 3/4ths of their salary so it's less of an issue).
But, this situation is far from being one where the Senators have to go out and spend 10's of millions on players. At most, they probably need to sign 2-3 overpaid veterans on 1 year deals making 2-3 million each.
That, or they can take on 1-2 Zetterberg/Clarkson type insured LTIRetirement contracts.
So basically, absolutely nothing exciting will come of this.