The New York Islanders’ long-sought salary cap and Expansion Draft relief has found an answer with the trade of defenseman Nick Leddy to the Detroit Red Wings for Richard Panik and a second-round pick.
Significantly, the Red Wings will also retain 50% of Panik’s salary. Panik has two seasons remaining on a four-year, $11-million contract ($2.75M AAV) originally signed with the Capitals.
That means Leddy’s $5.5 million cap hit — with one year remaining — goes out the door, and only $1.375 million comes back with the addition of Panik, if the Isles keep him.