Zaitsev Trade Creates Cap Flexibility

Wanting to get ahead of the incoming snow, the Ottawa Senators jetted one day earlier than usual to Raleigh Wednesday in advance of their Friday night meeting with the Carolina Hurricanes.

They did so minus defenseman Nikita Zaitsev who was traded to the Chicago Blackhawks in a move strictly to free up much-needed cap space. Zaitsev who had $4.5 million remaining on his contract that expires at the conclusion of the 2023-24 season was dealt to the Blackhawks along with the Senators’ 2023 second-round and 2026 fourth-round picks.

The team received everyone’s favourite player “Future Considerations” in the swap.

In a tweet posted by Senators’ PR, general manager Pierre Dorion said, “We’re pleased to afford Nikita a fresh start. He’s a pro’s pro who showcased himself to be a caring teammate and quiet leader throughout his #Sens tenure. We’re thankful for his time in Ottawa and wish he and his family the best in his next chapter.”

Zaitsev, along with forward Connor Brown, were the principles acquired from the Toronto Maple Leafs July 1/19 in a five-player swap that featured defenseman Cody Ceci heading west down Highway 401.

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The 31-year-old ends his tenure with the Senators by appearing in 203 games, registering seven goals and 38 assists.

Paired mainly with Thomas Chabot during his three-plus campaigns for Ottawa, Zaitsev blocked his share of shots (377).

Zaitsev was a healthy scratch at times this season and was placed on waivers prior to being subsequently assigned to the club’s American League affiliate, Belleville in November.

To his credit, Zaitsev amped up his game upon his return to Ottawa, but the writing had been on the wall since this past summer that the Senators were seeking to get out of the remaining term of his deal.

Now that the trade was consummated, where does this leave the Senators?

It leaves the club short on 2023 Entry Draft collateral for the time being.

The Senators are currently without a second or third-round selection but have two additional seventh-round picks.

They’re equipped much better in 2024 with additional second and fourth-round picks.

The trade vastly improved their salary cap situation. The Senators’ GM now has the cap space to seek a right-shot defenseman he so covets for the Senators.

Freeing up $4.5M for next season is key as the team currently has only 13 current roster players signed with $20M available to disperse. Alex DeBrincat and Shane Pinto are among the pending restricted free agents seeking contracts. If signed, DeBrincat is expected to earn north of $8M.

After trading Zaitsev, #GoSensGo have $4.96M of Cap Space with 20 players on the active roster.

This can fit $18M in Annual Cap Hit now or $21.9M at the trade deadlinehttps://t.co/G7DZ2cezDS

— PuckPedia (@PuckPedia) February 23, 2023