New York Islanders trade Nick Leddy to Red Wings for Panik, Pick

The New York Islanders’ much sought-after salary cap and relief from the expansion draft were answered with defenseman Nick Leddy’s trade to the Detroit Red Wings for Richard Panik and a second-round pick.

Significantly, the Red Wings will also keep 50% of Panik’s salary. Panik has two more seasons to go on a four-year, $ 11 million (2.75 million AAV) contract originally signed with the Capitals.

That means Leddy’s $ 5.5 million cap – with one year remaining – disappears, and only $ 1.375 million returns with the addition of Panik, if the Islands keep it.

The left winger has rebounded since being drafted by the Lightning in the 2nd round (52nd overall) of the 2009 draft. His heyday was scoring 22 goals for Chicago at 25 and he also has a few seasons of 14. goals. But now at 30, he’ll be on his fifth team in five seasons after the Capitals traded him to the Red Wings last season to make money in the Anthony Mantha acquisition.

The Islanders’ pick (52nd overall in this month’s draft) was acquired by the Red Wings from the Edmonton Oilers as part of the trade to forward Andreas Athanasiou in February 2020.

Not knowing all the conditions for a very active business dialogue in the NHL before the expansion draft, the return and maintenance of salary is more than expected for Leddy. Looking at NHL rosters and expected protected rosters, few teams were likely looking to add another defender they would have to protect. That Lou Lamoriello got a potentially usable forward, a decent draft pick and a pay cap relief is a win-win at first glance.

Which isn’t to say losing Leddy won’t hurt, especially if the Islands can’t replace him on the roster. He and Johnny Boychuk were part of the Islanders renaissance that started under Garth Snow but took off under Lamoriello and Barry Trotz. Leddy has remained one of four key defenders for them in the last two conference finals. They probably hate losing it.

But the Islanders were – and remain – in a salary cap crisis and doomed to lose someone; indeed, even after this exchange, they still risk losing someone else from their back-to-back conference final team.

In this context, Leddy was the first logical domino and this comeback is a pretty good outcome.

New issue: AD to expose in extension draft

This week, as Nick Leddy Trade Watch ensued, another factor lingered in the background: If the Isles trade Leddy and protect Ryan Pulock, Adam Pelech and Scott Mayfield, it means they don’t have a defender. eligible to leave unprotected according to the rules of the expansion project:

All NHL teams must exhibit one defenseman and two forwards who are all on contract for 2021-22 and who played at least 27 NHL games last season or 54 NHL games in the last two.

Note: The above totals are adjusted to prorated numbers, which have been changed as a result of the last two NHL seasons shortened by the pandemic.

Is that Andy Greene’s music? The veteran unrestricted free agent defender wants to keep playing, and some of his performance bonus from last season is already being applied to next season’s selection. Then maybe?