Edited May 21, 2022 at 2:55 a.m.
If the purpose is to dump Monahan, the trade is way too convoluted. It doesn't make sense to expect Buffalo to randomly include Levi, who is one of the top goalie prospects in the league. Isn't this a trade where they are being compensated for taking Monahan?
Arizona has set a pretty consistent price for dumping contracts. Pair a 2nd with Monahan, and Arizona might take him since he doesn't have term, and they will have to hit the floor. Maybe Monahan and a 2nd for Nick Ritchie, who the Flames could buyout and only pay a 300k cap penalty next season, followed by a 1.1M cap penalty the season after that. In terms of next season, it would clear about 6 million in cap off the books for Calgary. Because Ritchie makes 3.3 million against a 2.5 million AAV, it would only cost Arizona an extra 2.825 million in real money salary while getting them 3.875 million closer to the cap floor, and also netting them a 2nd round pick.
The Coyotes could pump Monahan's tires by giving him soft deployment and top PP time in hopes of tricking someone to give up a 3rd round pick for him at the deadline. Similar to Domi, he might get a 3rd or 4th just based on name value and past production despite poor overall play. Domi scored, but wasn't very good this past season, and is the antithesis of the type of player valued by serious playoff teams.