Quoting: rangersandislesfan
Just a little bit of a problem: Minnesota, Montreal, and the NY Rangers made a 3-way trade recently, but they didn't explain what the 2 deals were, which might be a problem because of the trade limit.
Nice catch. Don't think it applies in this case because it was all done in one trade. The players all moved once space to the right in a circle, they didn't get traded to one team and then passed to another.
In the end it's up to the BOE, but even if the trade were more complicated (retained salary, assets going between multiple teams, etc.) since it is arranged by all three parties simultaneously, it should be one transaction.
As philly said, if one party was retaining on a player as a 3rd party, the player would have to "stop" on their team long enough for the retention, before being moved to another team, so there's a "separation" involved that prevents it from being a true 3-way trade.
If I had retained $500k on Gallagher for example, Minnesota never touched him. He went into the trade with $500k retained, and came out of the trade with $500k retained.
If Minnesota had retained on Gallagher, they would be retaining as a 3rd party. He went into the trade without retention, and came out of the trade with retention. Something had to take place in the middle for that to have occurred.
There might be other instances that aren't coming to mind which would be similar, but definitely nothing that applies to simple single player transactions between 3 teams.