Quoting: Marino4Norris
Calgary's cap situation can fit in Horny without any trouble
the ask for Murray on his own is a 1st, and JJ's buyout doesn't warrant a serious cost to move
You definitely confuse what "ask" means. JR can ask for a first all day long, but that doesn't mean he's going to get it and it's likely he doesn't. He's not going to come right out and say, "Ehh, I don't need much, maybe a 2nd or a 3rd, whatever you want." He's going to ask the biggest return first. It's call negotiating.
Also, bumping down a 1st to a 2nd because they'd be taking JJ back is still not early enough. That's a bad contract for an even worse players. If the Pens move JJ the PENS are the team that would likely have to send a 1st back or some other form a compensation to sweeten that deal. Moving from a 1st to a 2nd doesn't make that wash. You'd basically have to ask for a 4th or 5th if you want them to take JJ along with Murray instead of a 2nd.
As far as Hornqvist goes, just because CGY has the space doesn't mean they necessarily want to spend it that way. Hornqvist can definitely still help to any team he goes to, but you're probably only getting around 60/65 games out of him age and his vs. how he plays, it's only going to get worse, so teams don't want to spend $5.3M for three year more years on that. You're either going have to do one of three things:
1) Retain salary
2) Add a desirable pick or prospect
3) Take back a not-so-great contract, but hopefully one from a player who fits the Pens a little better.