The Rundown
The Chicago Blackhawks found a taker for Bryan Bickell's albatross of a contract, and while it will help alleviate some of the salary cap pressure Chicago faces, they also had to give up a solid young player in Teuvo Teravainen. In return, the Blackhawks will receive a second and a third round draft pick from the Carolina Hurricanes.
Being in a less than ideal cap situation is nothing new for the Blackhawks, as they have seemingly made it a tradition to make deep postseason runs, dump salary, and retool. It has certainly kept Chicago as a premier team in the league, but there is a price that comes with being a cap team - namely, there is little room for error when awarding term or high-average value contracts.
Bickell's deal was a bad one from the get-go for Chicago, as he parlayed an excellent post-season in 2013 to a four year, $16 million deal that expires after the upcoming season. The $4M average annual value will be wiped off Chicago's books, though they still have plenty of moves to make in order to work under the cap while filling out a roster. The cap-hit isn't much of a concern to the Hurricanes, who have plenty of cap space with Cam Ward and Eric Staal's deals off their ledger.
The big piece in the deal is Teravainen, a young forward laden with potential. While Bickell has recorded 65 goals and 135 points in his 384 regular season games, Teravainen offers tantalizing upside for the rebuilding Hurricanes. A 21 year old center capable of playing on the wing, the left-handed shot of Teuvo has found twine 17 times in his 115 games.
Teravainen never really fit in with the Blackhawks, as he generally centered the third line while occasionally seeing playing time in the top six. Working in the bottom six, Teravainen had Chicago's fifth best Corsi-For % when adjusted for score and venue, while seeing tougher minutes and playing with less talented teammates (per http://www.corsica.hockey/skaters/).
Chicago undoubtedly would have loved to have kept Teravainen, but it's the cost of doing business very well. The draft picks are decent enough, as the second round pick is the 50th overall, but for Chicago to overcome the loss of Teravainen, they will need to nail the draft selections - and wait several years.
Fantasy Fallout
Bickell's fantasy value is non-existent, save for the ultra-deep leagues with 20+ members. Even then, there are probably better players to look for, though Bickell could be worth a lottery ticket if Carolina sneaks into the playoffs and Bickell's clutch power activate.
Teravainen is absolutely a name to keep in mind in both season-long and daily fantasy hockey, though he's likely long gone in dynasty leagues. If he earns a top six role in Carolina - which he should - he will find himself surrounded with several other young, high-upside players. Carolina could be a fast team, and they've always possessed the puck well, so this isn't some banishment to Vancouver or anything.
Way Too Early Trade Judgment
The Hurricanes are locked and loaded for the future, and Teravainen is yet another young, skilled forward that the 'Canes can give valuable NHL experience to, likely in a top six role. Bickell's $4M cap hit won't hurt Carolina's salary cap or rebuilding efforts, unless his roster spot keeps a talented prospect in the minors.
The Blackhawks, meanwhile, move a bad salary as they look to get their cap in order and continue to position themselves as a top-tier team in the league. The draft picks will help keep the cupboard full as they round out their roster in future years, when situations like this inevitably happen again - and they will. It's a mutually beneficial trade, but it's hard not to love this from Carolina's side.