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Three years ago, Michael Nylander(notes) signed a four-year, $19.5 million contract with the Washington Capitals after two seasons with the New York Rangers where he posted 49 goals and 162 points playing alongside Jaromir Jagr(notes).

Much like Jagr's career in the U.S. capital, Nylander's tenure with the Capitals didn't go so well. A torn rotator cuff took him out of the lineup and quickly made his deal an albatross on Washington's salary cap.

The Capitals eventually waived Nylander and today, after spending the last two years with Grand Rapids of the AHL and Jokerit of the Finnish League, he‘s headed to the AHL affiliate of the Florida Panthers in Rochester.

Kevin Oklobzijaof the Rochester Democrat and Chronicle broke the news this afternoon that the Panthers have agreed to a loan deal with the Capitals for Nylander as he enters the final year of his contract. The 38-year old center will be placed with the Panthers' AHL team in Rochester as they fill a hole at center.

Oklobzija notes that "most or all" of Nylander's $3 million salary for this season will be paid by Florida, which is a pretty expensive move to go about replacing an injured AHL center.

UPDATE: George Richards clears up the salary situation via On Frozen Pond.

Washington will cover his entire $3 million salary as this is a straight loan -- with the Panthers paying the Caps a nominal fee. Washington can recall him whenever they want.

So, why would the Caps pay his salary and send him to the Panthers affiliate instead of the Hersey Bears? Probably because the Bears are already loaded with veteran guys.

Say, there's a fact worth getting right. The Panthers also confirmed that with us. 

Stick-tap to Japers' Rink for the Tweet 

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