The Red Wings have added to their back end in advance of tomorrow’s transactions freeze, acquiring defenseman Nick Leddy from the Islanders in exchange for winger Richard Panik and the 52nd overall pick in this month’s draft. Detroit is also retaining 50% of Panik’s contract, using their first of three salary retention slots in the process. Both teams have announced the trade.
Earlier this week, it was reported that Leddy was being shopped to avoid the potential of losing him to Seattle in the upcoming expansion draft. The 30-year-old had logged steady minutes over his seven years with the Islanders, averaging more than 21 minutes per game for each of the last six seasons. Leddy even had a bounce-back year offensively this past season, tallying 31 points in 56 games. However, with the Islanders having over $77MM in commitments for next season with several key players in need of new contracts, some money needed to be moved and Leddy’s $5.5MM price tag became the casualty.
Panik was acquired as salary ballast from Washington back at the trade deadline as part of the Anthony Mantha deal and is on the move again as salary ballast in this trade. He has two years left on his deal with a $2.75MM AAV so with Detroit retaining half of that price tag, New York frees up $4.125MM in cap room with the move. They also get a fairly high draft pick and Panik at a $1.375MM cost is serviceable for someone who is best served as a role player at this stage of his career after seeing his offensive numbers drop for four straight seasons to just 13 in 48 games in 2020-21.
Meanwhile, Leddy immediately becomes one of Detroit’s top defensemen but with his age and contract which expires next summer, it certainly doesn’t feel as if he’ll be a long-term fixture on their back end, especially since they’re still in rebuilding mode. Instead, he’s someone that appears to be a strong candidate to be flipped closer to the trade deadline, perhaps with some salary retention as well to make it easier for a contender to add him later in the season where they may be able to recoup the second-rounder they’ve given up here.
As for New York’s expansion situation, this ensures they won’t lose Leddy for free but still poses some questions. Each team must leave at least one signed defenseman unprotected that has played in at least 54 games over the past two years (or played in 27 games this season). The Islanders only have three of those in Ryan Pulock, Adam Pelech, and Scott Mayfield. Presumably, those are the three they want to keep so they will now need to acquire or sign a defenseman to serve as the mandatory unprotected player before the lists are submitted on Saturday. Veterans Braydon Coburn and Andy Greene meet the games played requirement so a one-year contract for them would satisfy the requirement.
Photo courtesy of USA Today Sports Images. Contract information courtesy of CapFriendly.
Former Blackhawk for former Blackhawk lol
And neither coming back to the Hawks. Stanbo must be beside himself lol.
Lol so true.
Ok so I don’t get the trade. Leddy is still top-4 defensemen but the Isle’s are cap crunched and may want an extra expansion protection. That I get. But why would the Red wings want Leddy, right now? Also it sucks for Leddy. Leaving a team that finished final four two years in a row and otherwise is only gonna improve with young development? That’s rough. Anyway as a Rangers fan I’m glad they “lose” a good piece but someone is gonna have to explain this to me from both perspectives, though
It seems like it’s just a salary dump for the Islanders. Also, it’s a piece they can trade at the deadline (if not during the Entry Draft coming up) so I don’t think Leddy will be in Detroit that long. As for the Islanders: the pick is a decent return and Panik will probably be a 4th line guy. Or at least that’s what he seems like to me.
Dump Panik’s contract and hope to get that 2nd back at the deadline. For the Islanders it’s purely to save some cap for their upcoming extensions and not give away Leddy to Seattle for free.
They could always flip Leddy after the expansion draft.
Don’t really understand this at all for Detroit unless they think they can manage to squeeze a team for a first round pick at the deadline.
I agree, you don’t trade a 2nd rounder for a player with the hopes of trading that player for that second rounder back…this trade makes sense from the islanders for salary savings and panik can play the 4th line energy role fine enough but why would detroit give up a pick in this situation? This one is somewhat more baffling than the Keith trade, Leddy is also a winner but not as vocal of a leader and detroit is nowhere near Edmonton’s ability to compete
Nick Libbett
and 50% retain
I dont understand this trade, why give up a decent pick to help the Isles get cap space?
Detroit doing a nice favor here for the Isles.
Yeah, it would make sense if Detroit got a pick with Leddy for Panik.
I think they will flip Leddy after the expansion draft
So essentially they are paying 6.9 per for Nick leddy
Not good that the Isles had to move Leddy, but the return wasn’t awful at least. Wings get a reliable Dman, so good move by them.
Islanders may still expose Eberle in exp draft. That would save another $5m they can put towards a more prolific scorer and opens up door for Ryan Palmieri to return. Know this Lou Lamoriello is smarter than all of us here on these matters- so I’m fully confidently he comes out looking good
Ryan Palmieri is awful! Not even an ECHL level player! Kyle Palmieri however…
i dont see the point for DET
Watch. Leddy back to the Islanders after the expansion draft.
For Panik.
Cost of this transaction? 2nd round pick to avoid losing a top 4 d-man
Uh . . . you make it sound like the Islanders gave Detroit the 2nd rounder. Other way around.
Doh!
he is this year marc staal. They will trade at deadline for something or just play out the year.Always thought islanders were going to lose a forward anyway. choice prefer young bellows or veteran like clutterbuck/etc
Could go two ways, they feel Leddy has enough value that they can flip him for a greater return, either this summer or at the deadline, or they need some vets to bring along the young guys. Leddy and Sieder would be a decent pair.
Seems a high price to pay for a future flip, though. First you have to discount the teams that just won’t be able to afford Leddy’s cap hit, contender or not, then you have to assume Leddy keeps up his level of play, then you have to assume someone will pay more than a 2nd rounder for him. Several ‘ifs’ there.
Would Leddy have been picked up for a vet d-man pair for Seider …it makes some sense …
I don’t understand the “I don’t understand why this bad team is getting a good player” confusion.
If all you do is collect draft picks and prospects while surrounding them with mediocrity, you become the Buffalo Sabres.
Someone above said EDMONTON COMPETING!!! Now that’s funny! When have they actually competed for anything really? Now that life is mostly back to normal in the NHL as far as alignment is concerned so does Edmonton’s waste of McDavids prime years!
Don’t like or understand this trade by the Wings. How do they benefit? Believe they could have done significantly better with another URFA over Leddy who can’t shoot and plays no D. WTF Stevie Y you’re better than this!!!!