I like the trade from Ottawa's perspective.
As they aren't a cap team, they care more about actual salary. Phaneuf's contract was frontloaded so he'll be making closer to 6.5M a year than his 7M cap hit with the Sens.
The Sens needed at least another top 4 defenseman capable of playing 20 minutes a night. One capable of also putting up 35-45 points is going to cost at least 6M in free agency, if they even consider Ottawa. If they wanted any chance to do anything they needed to grab a top 4 defenseman, they got one in his 'prime' without giving up much of anything.
Toronto's made sense as well.
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