Another Islander is on the move and another is on his way back.

A day after shipping defenseman Nick Leddy to the Red Wings in a cost-cutting move, the team traded injured forward Andrew Ladd, second round picks in the 2021 and 2022 NHL Drafts and a 2023 conditional third round pick to the Arizona Coyotes on Saturday in another cost-cutting move.

Arizona will take on Ladd’s contract, which comes with a $5.5 million cap hit over the next two seasons, as the Islanders look to free up salary-cap space in hopes of making a big move this offseason.

The Islanders opening up cap space comes as reports suggest they’re in the running for star Avalanche captain Gabriel Landeskog, who will become a free agent if he can’t come to terms with Colorado.

The 35-year-old Ladd last played for the Islanders in the 2019-20 season, appearing in four games, and isn’t expected to play another NHL game.

The Islanders are also re-signing defenseman Andy Greene to a one-year, $750K contract, according to reports. The deal also includes an extra $250K in performance bonuses. Greene, 38, is expected to be left unprotected for the expansion draft. He played the past two seasons with the team.