Welcome back in everyone to the world's most trusted weekly salary cap article! This is my time of the year, and we have a monster trade to break down to start trade deadline time. Let's dive in.   

The Florida Panthers acquired Seth Jones and a 2026 4^th round pick (CHI) from the Chicago Blackhawks for Spencer Knight and a 2026 1^st round pick (FLA). Pick slides to a 2027 1^st round pick (FLA) if Florida trades their 2026 1^st round pick elsewhere

First major trade of this deadline and we got ourselves some spice! Let's start with Florida, then the Hawks from a cap standpoint, fantasy, and I would be remiss if I did not give a fan take on this deal. Buckle up.

For the Panthers, I wonder if Bill Zito reads my Capped articles? If he does, I know that I've mentioned several times that no contract is untradeable in the NHL but if there was one out there that may just be outside of that realm of possibility, it was the Seth Jones deal. At a $9.5M AAV for five more seasons…this contract was the litmus test, which I think now we can safely say that anyone can be dealt at any time, so long as either the salaries matchup or we get a third team involved to play retention merchant.

In this deal, the Florida Panthers will retain a total of 26% of this contract, which puts the AAV from $9.5M to $7M. I am not concerned at all with Florida taking on that amount as the Panthers have done an excellent job bringing in players who are able to contribute at a high level and, if anything, this gives you Aaron Ekblad insurance, as he has not had a great track record of staying healthy for this club. In the next three or so seasons I can't see anyone on the Panthers blue line making more than Jones is now, and if the Panthers do re-sign Ekblad this off-season, I would be shocked if he either matched or surpassed his current AAV of $7.75-million.

Bigger picture for Florida, I would sit here and tell you all that Florida is done making moves with adding the Seth Jones money to their books, and normally that would be the case. However, with Matthew Tkachuck on LTIR, this gives the club around $5.3M in cap flexibility if they were to remain active throughout the trade deadline.

For fantasy…and I suppose "real" hockey as well, Jones is a big defenseman that may not be a true #1, but a great piece to have along any blue line. Don't let the numbers fool you, he can produce offensively while offering blocks and hits as well, and in Florida may see extended time on special teams. Where his game gets in trouble is his speed getting back to defend the rush – just watch every game the Hawks have played Winnipeg this season and you'll see what I'm talking about. Jones is a solid player to have on your favorite hockey club (if you're a Panthers fan) and in fantasy he's a decent piece to have as well.

For the Hawks…I don't know how you don't love this trade. They absorb $2.5M of Seth Jones's deal which will ultimately break an NHL record for the most money retained off an NHL salary when it's all said and done with the number falling around $13.1M, breaking the previous record of Philadelphia and Kevin Hayes' deal that was retained to the amount of just over $10M for three seasons. That said, I'm still more than all right with this as it is extremely important to note that it was not this iteration of the Blackhawks front office that gave out this contract, it was the previous regime led by Stan Bowman and scouting director Mark Kelley. Both of whom set the franchise back five or six seasons but hey, what's a rebuild or two between pals, right?

For fantasy and DFS alike, I would say that Knight is more of a temporary player that you roster from time-to-time. Unless the Hawks move him to a full-time starter in net, his value will come up for random spot starts here and there and should most of the time be both available in fantasy and cheaper on the DFS side.

Time to put on my fan hat for a split second here…I'm going to guess I'm the only one out there who has driven along Interstate 39 going through rural Illinois. I can't see too many of my readers coming from the greater Troy Grove, IL metropolitan area, but if you are from there then you know what's out in that part of the state – absolutely nothing. That was perfect for me while I was driving along that stretch of highway that day, because when I got the text alert that the Blackhawks had signed Seth Jones for $9.5M I had to pull off on the side of the road and read in despair and shock. That number is the same AAV as Nikita Kucherov. Nikita. Kucherov. Let that sink in. I do think Jones is a solid player, I really do, but that number overshadowed everything good or bad that went on up until recently when he was in front of his stall getting vocal about the club. I understand it is probably never fun having your name thrown out there in trade rumors but, the comments made after the Vegas game were lousy in a game that the Hawks somehow fought their way back into after a rough first period. I don't think when Hawks fans think back on #4 that Seth Jones comes to mind, those honors will go to Niklas Hjalmarsson.

*Salary Cap data from PuckPedia.com  

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