The Los Angeles Kings announced today that they are buying out the remainder of defenseman Dion Phaneuf’s contract.
Phaneuf had two seasons left on his contract, with a cap hit of $5.25 million each year. (The Ottawa Senators picked up the remaining $1.75 million of Phaneuf’s cap hit, which originally totaled $7 million.)
The Kings will have the following cap hits on the books for the next four seasons as a result of the buyout:
- 2019-20 season: $2,187,500
- 2020-21 season: $4,062,500
- 2021-22 season: $1,062,500
- 2022-23 season: $1,062,500
The Ottawa Senators will also be paying for Phaneuf for the next four years, given that they retained salary on the initial trade. The Senators will have cap hits of $729,167, $1,354,167, $354,167, and $354,167 over the next four seasons.
Phaneuf, 34, was acquired by the Kings from the Senators in February 2018. Phaneuf and forward Nate Thompson were acquired in exchange for forwards Marian Gaborik and Nick Shore.
Thompson was traded to the Montreal Canadiens at the most recent trade deadline and recently re-signed there for another season. Gaborik did not play at all for the Senators last season and looks to remain on LTIR for the rest of his contract. Shore spent the 2018-19 season playing for the KHL’s Metallurg Magnitogorsk.
In 93 games over two seasons with the Kings, Phaneuf recorded four goals and 12 assists for a total of 16 points. Former interim head coach Willie Desjardins made Phaneuf a healthy scratch several times over the back half of the 2018-19 season as the Kings looked to evaluate their younger defensemen.
Phaneuf is now an unrestricted free agent and can sign with any team.