Florida Panthers Trade Captain Bryan McCabe to New York Rangers for Tim Kennedy, 3rd

TSN's Bob McKenzie and Darren Dreger are reporting that the Panthers have traded captain Bryan McCabe to the New York Rangers for forward Tim Kennedy and a third round pick. McCabe had to waive his no-movement clause to be dealt. Earlier today, the New York papers were reporting that McCabe agreed to waive it, but only to go to the Rangers and speculation has been running rampant all day.

McCabe is on the last year of his contract, originally with the Toronto Maple Leafs. He waived his no-movement clause in September 2008 to be traded to Florida. He was named team captain prior to the start of the 2009-2010 season.

Kennedy is a center from Buffalo, NY who was drafted 181st in 2005 by the Washington Capitals and then immediately traded to the Sabres. He had 10 goals, 16 assists and 50 penalty minutes for the Sabres last season. After a contract dispute and arbitration with the Sabres in the summer, he was waived and bought out and then signed a one-year contract with the New York Rangers. The Rangers waived him at the start of the season and sent him to their AHL affiliate, the Hartford Wolf Pack (now the Connecticut Whale).

Kennedy has 12 goals and 30 assists in 53 games with the Whale this season. He is a plus-3, has 44 penalty minutes, 3 game winners, including 2 overtime and an empty net, 6 power play goals and is 1 for 9 in the shootout.

He is on a one-year contract for $550,000 and will be an RFA at the end of the season.

UPDATE (3:34PM): Kennedy is stuck in the minors because he's over the 60 game limit. The Rangers haven't been able to call him up because he's subject to pilfering by the New York Islanders recall waivers. This is only a guess, but I'm thinking the Panthers may be able to get him here on emergency recall because of the injuries to Matthias, Dadonov. Olesz & Higgins.

UPDATE 2 (5:21PM): Nothing from the Panthers yet, but the Rangers have officially announced the trade. 

 New York Rangers 
 officially announce the acquisition of defenseman Bryan McCabe from Florida in exchange for Tim Kennedy and a 3rd round draft choice

UPDATE 3 (6:53PM): According to both George Richards (Miami Herald) and Harvey Fialkov (Sun-Sentinel), Tallon is trying to "slip Kennedy through re-entry waivers." Apparently, because of the trade (and maybe the deadline), if another team claims him, they have to play him in the AHL, so they're willing to take the risk. No announcement on the web yet, but McCabe's name has been taken off the roster. He will wear 28 for the Rangers (Ryan Callahan is 24).

NHL Trade Rumors and Hockey Blogs - SB Nation NHL Trade Deadline

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