So a #7D, a #13F, and a late 2nd and 3rd for an integral top pairing part that just helped us win a Cup? No way. If and when Caps move on from Niskanen they'll want the value of a 1st+2nd.

Niskanen was top twenty among defensemen in even strength points again last year, but is not top 20 among defensemen in salary. You're right that Merrill doesn't bring much to the Caps, but Nosek would have a tough time getting a roster spot from Travis Boyd.

If Vegas wants Niskanen, they do have a few defensmen they could almost trade for him, but they'd have to overpay to get Niskanen's toughness, penalty killing, shot blocking, and leadership: McNabb and a 1st, Miller and a 2nd, or Theodore and a 3rd would make trading Niskanen sound reasonable. Otherwise, since he's got as many years left on his contract as Ovechkin, he probably plays it out and those two deals define the Caps' window to keep contending. None of the free agents left on this year's market would be a better use of 5.5M than Matt Niskanen. No one better than him in next summer's UFA crop will sign below 10M. In a salary cap league, you don't give up on a #1 defenseman at a #2/3 defenseman's salary, unless you're getting back a younger, cheaper, likely future #1 defenseman, or at least a solid #4 and a 1st pick.

Even with the above overpayments, since Todd Reirden's first request on joining the Caps was that they sign Matt Niskanen, there's a decent chance that the deal still doesn't get done.

There is no way on earth I'm trading Niskanen for McNabb anyways. LA fans were happy when he was taken in the expansion draft because he has some boneheaded dirty plays that we're trying to get Wilson to get away from. Having McNabb and Wilson on the same team is just asking for leading the league in PIMs, and without Niskanen, our PK is notably weaker.

Even with a first round pick? Okay. They're not too far apart in hits, shot blocks, or minutes. McNabb is starting to kill some penalties and grow into a bigger role, and he's a bit younger and a bunch cheaper. The team would miss the offense, and certainly would get even less benefit of the doubt from any referee that still gives them any, and Niskanen is used to playing tougher zone starts against tougher competition I imagine, but the Caps have the third worst prospect depth in the league and very little cap space to re-sign guys next season. I think McNabb is like a younger, faster Orpik and I kind of see him being a logical fit if Orpik retires next summer. Probably wouldn't happen this summer, because the Caps don't have enough puck movement without Niskanen, and if you're worried about having Wilson and McNabb on one team, then Wilson, McNabb and Orpik would be worse.