Trade Alert: Lightning trade Callahan in one for one deal

This just in, the Tampa Bay Lightning have traded veteran forward Ryan Callahan to the Ottawa Senators in exchange for backup goaltender Mike Condon.

Check it out:

The move is essentially a salary dump for the cap strapped Lightning, who now clear Callahan’s $5.8 million off the books. The veteran has struggled with back injuries the past two seasons and announced earlier this summer that doctors have advised him to retire from the sport. In order to collect the full amount of his contract however, Callahan won't officially retire until after the 2019-20 season. It's expected that he'll be placed on long-term-injury-reserve (LTIR) for the duration of the season.

In trading Condon, the Senators have also freed up some room for competition amongst their younger goalies, as well.

"We believe we have the right mix of goaltenders both for the upcoming season and the future," said general manager Pierre Dorion in a prepared statement. "We are pleased with how our young goaltenders have been developing in Belleville, so this trade allows us to focus on continuing their growth at a proper pace while keeping two established goaltenders here in Ottawa. Our cap flexibility allowed us to proceed with this trade, which will also benefit us as we continue making adjustments to create a hardworking, exciting team." 

UPDATE: In addition to receiving Condon, the Lightning also receive a 6th round pick as part of the deal.