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The Kings acquired Phaneuf from the Ottawa Senators in February of 2018, and Ottawa retained 25 per cent of his $7 million annual salary. As a result, both the Kings and Senators will receive some cap relief from the buyout.
According to CapFriendly.com, the Kings will carry a $2,187,500 cap hit for Phanuef in 2019-20, while the Senators will be on the hook for $729,167.
#LAKings have bought out the final 2 years of Dion Phaneuf's contract.
As a result of the Retained Salary trade between the Kings & Sens on Feb 14, 2018 involving Phaneuf, the cap hit resulting from his buyout will be split between LA (75%) and OTT (25%)https://t.co/u0YNYgG1Qypic.twitter.com/golsF8VigN
Dion Phaneuf had a NMC included as part of his deal, which is why the #LAKings did not have to place him on Unconditional Waivers prior to terminating his contract.https://t.co/Bxev3SprwL
In 2020-21, Phaneuf will count for $4,062,500 against the Kings’ cap and $1,354,167 for the Senators. For the two seasons after that, he will carry a $1,062,500 cap hit for the Kings and $354,167 for the Senators.
The 2018-19 season was a tough one for Phaneuf, and included being a healthy scratch at times. He appeared in 67 games for the Kings, scoring one goal and six points while posting a minus-21 rating.
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