Phaneuf has two years remaining on his contract, which carries a $5.25-million annual cap hit. His deal includes a 12-team trade list.
The 34-year-old hit rock bottom in 2018-19. His six points, minus-21 rating, and 15 minutes of average ice time were all career lows. He was routinely a healthy scratch down the stretch, skating in a total of 67 games.
Here's what a buyout for Phaneuf would look like, according to CapFriendly:
|Season||Post-buyout cap hit|
Phaneuf signed a seven-year, $42-million extension with the Maple Leafs in 2013. Toronto traded him to the Ottawa Senators in 2016, who then flipped him to the Kings two years later and retained $1.75 million per season on his contract.