The much anticipated trade of defenceman Bryan McCabe was finalized on Tuesday.
McCabe has been dealt from the Leafs to the Florida Panthers in exchange for Mike Van Ryn. Florida also receives Toronto’s fourth-round draft pick in 2010.
McCabe’s salary cap hit for the next three seasons will be $5.75 million even though the Panthers will only have to pay him $4.15 million per season on the deal that was front-loaded when it was signed in 2006.
29-year old Van Ryn, who is four years younger than McCabe, has two years remaining on his contract and will earn $3.35 million each season, but his cap hit is only $2.9 million.