The Vancouver Canucks and Ottawa Senators might have to make cost-cutting moves to have all their players under contract and be cap compliant.

The Vancouver Canucks made one of last season's biggest trades by shipping center Bo Horvat in January to the New York Islanders. In early July, the Ottawa Senators made one of the summer's notable deals by trading Alex DeBrincat to the Detroit Red Wings.

Their limited salary cap space entering 2023-24 could force both clubs to make cost-cutting trades before the season begins next month.

During the Sept. 8 edition of his 32 Thoughts podcast, Sportsnet's Elliotte Friedman felt the Canucks and Senators would be worth watching as the start of training camp next week draw nears.

The Canucks currently sit above the $83.5 million cap by $4.41 million. They garnered salary cap relief last season with defenseman Tucker Poolman and winger Tanner Pearson on long-term injury reserve.

Poolman ($2.5-million cap hit) reportedly continues to suffer from migraines. He isn't expected to attend training camp or be ready for the start of the season. However, Pearson ($3.25 million) appears to have recovered from the hand injury that sidelined him for most of last season.

The Senators, meanwhile, possess just over $784,000 in cap space with Shane Pinto to re-sign. Pinto, 22, has little leverage coming off his entry-level contract. Friedman pointed out that he's ineligible to receive an offer sheet from a rival club because he didn't play enough NHL games to qualify for Group 2 RFA status.

Both clubs could attempt to free up some cap room by placing a player or two on waivers or demotion to the minors. However, a trade could be the more likely route to free up the necessary dollars to become cap compliant.