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Ottawa Trades Mike Condon To Tampa For Ryan Callahan

OTTAWA - The Ottawa Senators announced today the team has acquired forward Ryan Callahan from the Tampa Bay Lightning in exchange for goaltender Mike Condon. As part of the transaction, the Senators will also receive Tampa Bay's fifth-round draft pick in the 2020 NHL Draft while the Lightning will receive Ottawa's sixth-round selection.

Callahan, 34, has one season remaining on his contract and was placed on long-term injured reserve after suffering a career-ending back injury and a degenerative back disease diagnosis this past season. 

Filed in: NHL Teams, Ottawa Senators, Tampa Bay Lightning, | KK Hockey | Permalink
  Tags: mike+condon, ryan+callahan

Comments

Paul's avatar

Steve Ellis tweet,

Tampa now has Vasilevsky, McElhinney, Dominque and Condon, while Syracuse has Martin, Wedgewood and Fucale.

Can’t wait to see the moves Tampa makes with their goalies.

Posted by Paul from Motown Area on 07/30/19 at 10:22 AM ET

Steeb's avatar

I really don’t get this from Ottawa’s standpoint (not that a lot they do makes much sense anyway). But Callahan costs about $4mil more than Condon, so they take that on to get a 5th rounder for their 6th? They don’t need to get to the salary floor, and he’s already announced he’s done, so he’ll be on LTIRetirement anyway. Tampa’s side doesn’t make a lot of sense either. Condon is in the “Buried” column on CF.

And if you figure Tampa finishes at the bottom of the draft order and Ottawa at the top, it’s not a big move in the draft for either side anyway…

Posted by Steeb on 07/30/19 at 11:06 AM ET

Paul's avatar

Steeb, per CapFriendly tweet,

Callahan will unfortunately spend the final year of his contract on LTIR due to injury

As a result of the long term injury, the #Sens will only be responsible for paying $940k of his $4.7M salary, whereas the insurance in Callahan’s contract will cover the remaining 80% ($3.76M)

Posted by Paul from Motown Area on 07/30/19 at 11:10 AM ET

Steeb's avatar

Addendum: If Tampa wins the Cup (not a long shot) and Ottawa finishes last in the league (quite likely) that pick trade is a grand total of ONE slot in the draft.

Posted by Steeb on 07/30/19 at 11:11 AM ET

Steeb's avatar

  As a result of the long term injury, the #Sens will only be responsible for paying $940k of his $4.7M salary, whereas the insurance in Callahan’s contract will cover the remaining 80% ($3.76M)

Posted by Paul from Motown Area on 07/30/19 at 12:10 PM ET

Wow, so it makes even less sense then! So, the money swap was basically even (Condon’s cap hit is $1.325mil) and the picks will likely be half a dozen (or fewer) spots in the draft in the very late rounds. Interesting.

Posted by Steeb on 07/30/19 at 11:17 AM ET

Avatar

I do NOT get the trade from Ottawa’s perspective. You’d think they could get more than swapping up a few slots in the draft.

However (and feel free to correct me if I’m wrong) doesn’t this give Tampa more cap space to work with RIGHT NOW because they rid themselves of Callahan’s salary. I don’t believe they get the benefit of LTIR cap relief until the start of the season. By getting rid of Callahan they can sign Point without having to worry about going more than 10% over cap.

Posted by evileye on 07/30/19 at 01:46 PM ET

Avatar

If Ottawa is involved it’s probably mostly about
Condon being owed more actual cash, in exchange for Tampa
gaining a little more technical cap room?

Posted by lefty.30 on 07/30/19 at 02:32 PM ET

Down River Dan's avatar

Callahan will probably be one of the best players on Ottawa this coming season…... rolleyes

Posted by Down River Dan on 07/30/19 at 02:53 PM ET

Steeb's avatar

Posted by evileye on 07/30/19 at 02:46 PM ET

Fair point (so to speak) but right now they’re ~$11mil under the cap with only Point to sign that would be a big cap hit. Unless they’re thinking of bringing in another free agent or something, I guess.

 

Posted by Steeb on 07/30/19 at 04:26 PM ET

d ca's avatar

Why is it difficult to see why Ottawa made this trade?  Ottawa’s owner, Eugene Melnyk, is cheap.

Mike Condon’s going to make 3.0M in salary (even buried in the minors). Callahan will cost $940k.

Melnyk just saved $2.06M in actual cash and got a swap of draft picks.

Tampa made this move to sign Point because they could only exceed the salary cap by 10% in the off-season and when they had Callahan he was still counting against their cap in the off-season which blocked the money to re-sign him until they could place him on LTIR once the season started. They now can sign Point immediately.

So it helps Tampa financially to be able to re-sign Point immediately rather than waiting for LTIR to kick in and it saves Ottawa actual money by paying less to get to that cap floor (Marian Gaborik and Clarke McArthur also are on LTIR and probably have portions of their contract covered by insurance too).

And it pisses off most of the other teams in the league..

Posted by d ca on 07/30/19 at 06:25 PM ET

Avatar
Why is it difficult to see why Ottawa made this trade?  Ottawa’s ownerEugene Melnykis cheap

Admittedly that was my mistake. I should never underestimate Melnyk’s desire to run a franchise on the cheap.

Posted by evileye on 07/30/19 at 07:44 PM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

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