Thanks, Palhal. But the NHL only lets you start the season with 23 NHL regulars on one-way, non-rookie contracts. The rest are exposed to waivers for 24 hours, during which any other team in the league with roster space may claim them. The Golden Knights currently have eleven defensemen under contract. Most teams carry seven. Some carry eight. I think what gets McPhee interested in this deal is that it addresses four of his needs: depth players to re-call, without losing anybody on waivers, getting significant value for his extra defensemen, acquiring a top defensive player to teach the rest of his young squad the ropes (because, let's face it, Clayton Stoner does not know everything about the defensive side of the game, and Brooks Orpik, as much as any active NHL player, does), and an extra first round draft pick, to help build what looks like a perennial contender in the '20s. That last part is significant, because none of the three players he's giving up, indivdually, is worth a 1st round pick in this year's NHL trade market, because none of them is expected to be a star player. To the Caps, however, since all three are expected to be decent NHLers, and they are in win-now mode until further notice, the chance to add three decent NHL players immediately, with some offensive upside, a bit of youth, and a bit of speed to match some of the Penguins' peripheral players, is worth a lot more than a 50/50 chance of adding one more very good young player in a couple years. And as much as they do have to believe that all of the prospects above are ready to take a regular shift in the NHL, they're not ready to put them on the ice right away for more than three or four games while they're trying to earn a third straight President's trophy, so they're better tradng them, two-to-one, for some guys who have already made the leap into the NHL, and just need some solid mentorship to stick there. As Caps fans, we know George McPhee is brilliant, and we also know that he raided the Caps' front office of a lot of talented hockey guys, leading to the Caps having their worst summer in a long time, ths year. He and MacLellan (the Caps' GM, and McPhee's former assistant GM in Washington) have been friends for decades. I'm sure neither of them even suggests a deal unless they're sure it's win-win, and helps both parties meet their long term objectives, and solve short term problems.
What I mean by "vegas doesn't look like an expansion team," is that expansion teams start out with a lot of third and fourth line NHLers, and a lot of draft picks who aren't ready to play, but should become first and second line players, if they're given enough time to develop in the minor leagues (since hockey players are drafted at 18 y.o., but typically start playing in the NHL closer to 21y.o. or older). Promoting players too young can lead to injuries and damage their confidence if they get smoked by the speed of the professionals, too often. So established teams will promote decent prospects earlier than great prospects. Vegas doesn't want to end up in a spot where, say, Perron gets injured and they have no one to call up but their recent first round draft picks. So they have a far team they'll fill with whoever they can scrounge up, probably with free agents cut loose by other minor league teams, and some of those guys will end up in the NHL at times, this year and next year. They'd be better off with a nucleus of solid minor league talent from a perennial contender at the American Hockey League level.
Watch: I'll put this same trade up, on a Vegas roster, and let's see what other long-time hockey fans say. My guess is that, since McPhee build the Capitals' current powerhouse by drafting three times each in two straight first rounds, he takes this deal if it's offered, because he was hired to re-make the same recipe. But let's see what people say...