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After much speculation, TSN’s Darren Dreger tweets that the Ottawa Senators and Los Angeles Kings have agreed to a deal that will send Marian Gaborik and Nick Shore from LA to Ottawa for Dion Phaneuf and Nate Thompson. The deal will also see Ottawa absorb 25% of Phaneuf’s cap hit. The trade call was confirmed by the league at 9:14 CST per a tweet from TSN’s Bob McKenzie.

McKenzie tweeted out earlier that “something appears to be done,” but players involved were still competing in their respective games. McKenzie tweeted even earlier that Phaneuf had been pulled from the lineup during the Ottawa-Pittsburgh contest so the trade could get done. Sportsnet’s Elliotte Friedman also confirmed the speculation, tweeting that the teams were working on a deal.

Phaneuf still has three years left on his 7-year, $49MM deal at the end of the season. With 25% of the deal eaten by the Senators, Ottawa will save $4MM tweets TSN’s Frank Seravalli. The Kings will see a cap hit of $5.25MM.

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This article first appeared on Pro Hockey Rumors and was syndicated with permission.

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