An excerpt from TSN:

Bryan McCabe isn’t going anywhere – until the Toronto Maple Leafs pay him $2 million in an owed signing bonus on Sept. 1.

But, as soon as the Leafs make that payment to McCabe, sources close to the Leafs say he will become part of a trade with the Florida Panthers.

All the pieces of the transaction have reportedly been agreed upon – sources say the Panthers and Leafs have settled on the players involved and McCabe has indicated he will waive his no-movement clause to go to Florida – and the only reason to delay the transaction is to allow Toronto, not the Panthers, to be on the hook for the signing bonus.

Florida would then be on the hook for the balance of McCabe’s contract, which will pay him $4.15 million ($6.15 million minus the $2 million dollar signing bonus) this season and $4.15 million in each of the remaining two seasons, although McCabe’s salary cap hit for the Panthers will be the same as it was for the Maple Leafs — $5.75 million.