Trade Deadline Talk...

Trade Deadline: Wednesday, April 3 at 3 p.m. ET.
Question:
How does this work? You trade for a player who has a 2 years left on his contract. His salary is $2.5 M per year and his cap hit is $4.5 M per year. Obviously the new team pays the $2.5M salary, but do they also take the $4.5M cap hit?
My guess is that the new team would take the cap hit as well, but in a way, that doesn't seem fair since the cap hit was a way for the old team to defer $6M cap hits.
Anyone know for sure?
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BTW: Those are the numbers on Ryan Malone. With Guy Boucher being fired today and The Lightning going the wrong direction, maybe Malone could be had? I'd take him at $2.5M but not at $4.5M... providing we didn't give up a lot for him.
That being said, I'm not sure if the Pens want to mess with a lineup that is playing well. But IMO, there are still teams like The Devils, Boston and Maple Leafs (possibly Flyers) that could be kryptonite in a best of 7 series. Plus we don't know about injuries.
Thoughts...