Trade: Predators land McDonagh, Lightning gain salary cap room

The Tampa Bay Lightning may not be reigning Stanley Cup champions any longer, but they still are masters at salary cap management. The Lightning traded Ryan McDonagh to the Predators in a move that opens up significant salary cap space for Tampa Bay.

Predators receive: Ryan McDonagh, 33, $6.75M cap hit through 2025-26.

Lightning receive: Philippe Myers, 25, and Grant Mismash.

Myers is supposed to count $2.55M on the cap. Yet, due to some salary cap quirks, a buyout could add to the Lightning salary cap savings in the McDonagh trade.

This would result in the #GoBolts having created $7,366,666 in cap space for themselves next season.

McDonagh $6.75M + Myers credit $617k = $7.37Mhttps://t.co/qIBiAOS50x https://t.co/PVTfDN9Dnm

— CapFriendly (@CapFriendly) July 3, 2022

Then again, maybe not? Chris Johnston reports that the Lightning might keep Myers:

It doesn't sound like #TBLightning will use a buyout on Philippe Myers even thought it would come with a cap credit for 2022-23. Today's trade still gives them $4.2M in cap relief with Myers on the NHL roster next year.

— Chris Johnston (@reporterchris) July 3, 2022

The McDonagh trade is a big piece in the Lightning managing another challenging offseason of salary cap/free agent questions. Recently, the Lightning somewhat surprisingly signed Nicholas Paul to a lengthy contract.

It remains to be seen if the Lightning have opened up enough salary cap space to retain free agent Ondrej Palat.

Really, though, the salary cap savings might be even more important for the Lightning’s longer-term outlook.

Key mid-prime core members Anthony Cirelli, Mikhail Sergachev, and Erik Cernak all need new contracts (and likely big raises) after next season. Considering the lengthy term on