Last night, the Ottawa Senators traded both veteran defenseman Dion Phaneuf and center Nate Thompson to the Los Angeles Kings in exchange for forward Marian Gaborik and 25-year-old center Nick Shore.
This marked one of the biggest trades of the NHL season and of the NHL's trade frenzy leading up to the deadline at the end of this month.
And not only did it market the biggest move as of yet, but it is expected to have a major impact on the current market and it will create a domino effect around the league.
Right before the swap, NHL insider Bob McKenzie explained on TSN's Insider Trading what was needed to kickstart the market with just over a week to go prior to the deadline. He also believes that another important factor will be when coveted rental players will be on the move:
"The single biggest X-factor leading up to the deadline is when these rental players move and for what price do they move. We know who’s out there. We know there’s Rick Nash. We know there’s Michael Grabner, Patrick Maroon and Evander Kane."
"What we don’t know is whether teams are going to ante up with the price out there; a first-round pick, a first-round pick plus plus. A lot of these teams that are looking for rentals say they will not pay the premium to get one of those players, but if one of them does it, then the other guys have to. Does that start a stampede? But if none of them do it, does that mean these teams either get left holding those guys, or is the value for them more than a first-round plus plus?"
The Senators are believed to be retaining 25% of Phaneuf's salary in this deal which will make him a relatively cheaper option for the Kings than he was for the Senators.
A similar approach could be huge in the case of Nash or Kane, who also have a hefty deal with months to go on their respective current contract before hitting the free agency.
Stay tuned - the Phaneuf major trade has surely kickstarted the market!