It's just a weird trade. Unless I'm mistaken, the following are more or less all true:
- One of Ottawa's biggest weakness had been puck possession, especially from their D.
- Phaneuf's only real skill is generating offense on the power play.
- The last thing Ottawa needs is a skilled D to QB their power play.
- Ottawa is in a position where every dollar has to be maximized if they want to be successful.
Given all of this, the trade only makes sense if the guys in charge of Ottawa think Dion Phaneuf will drive possession and provide significant value at even strength, even though the numbers are apparently pretty loud in saying that he won't.