This deal is a good old-fashioned blockbuster trade, the likes of which are rarely seen these days. In Phaneuf, the Sens land a quality two-way defenseman who should slide in beautifully behind Erik Karlsson as the No. 2 rearguard in terms of ice time. Frattin, Bailey and Rupert will provide more AHL depth up front, while Donaghey is a long-term blueline prospect. Ottawa dumped three bad contracts (Cowen, Greening and Michalek) in order to take on Phaneuf's cap hit.

For Toronto, this trade is all about the future. Landing a quality winger prospect like Lindberg should eventually pay dividends for the Maple Leafs, while the second-round pick is another future asset for the rebuilding club. Michalek should help the NHL team in Toronto when healthy, while Greening will help with the AHL depth lost (Frattin, Bailey and Rupert) in the transaction. As for Cowen, he has a second chance to prove he can become a quality shutdown defender in the NHL.

Phaneuf's fantasy value gets a nice spike here because Ottawa is a more offensive club than Toronto (though leagues that feature plus/minus rating as a stat category need to keep an eye on him). Lindberg should be on the fantasy radar as a future keeper-league winger. Cowen will play more in Toronto but his value remains minimal. Michalek's value takes a hit going to Toronto, but his injury history makes the move a moot point. Greening, Frattin and Bailey are expected to remain in the AHL and offer very little fantasy value, while Donaghey is a fantasy long shot for down the road.