With a salary cap of $73 million, the Senators are going to sit well under the cap. As of now, their total payroll accounts for about $67 million for the 2016-2017 season.
They still have a cushion of about $6 million if they want to make any more transactions, but Eugene Melnyk has emphasized in the past about how he feels as though the team spends enough money to be competitive without getting too close to the cap.
They’re also set up nicely to attend to their upcoming batch of free agents next offseason. In total, about $9 million is going to come off the books in expiring contracts next offseason.