2006–07 Ottawa Senators season

The 2006–07 Ottawa Senators season (the team's 15th season) saw the team rebound from a disappointing early exit from the 2006 playoffs. The team made its first appearance in the Stanley Cup Finals, losing to the Anaheim Ducks. After numerous personnel changes at the start of the season, the team had a poor record until December. The poor record sparked numerous trade rumours in the media. The team turned their play around to place second in the division and won three playoff series to make it to the Stanley Cup Finals, the first in Ottawa in 80 years.

This was also the year that the relatively new salary cap system changed the course of two franchises. Having to decide between one of their two star defensemen. Wade Redden was ultimately the choice over Zdeno Chara based on his impressive past couple of seasons. In the 2005–06 season, Redden was selected for the Canadian Olympic team, along with teammate Dany Heatley, and finished the season with a career-high 50 points and an NHL-leading +35 plus-minus rating in 65 games. The Senators chose Redden and the Senators and Redden agreed on a two-year contract worth $13 million with a no-trade clause; Chara signed with the Boston Bruins. Redden's salary made him the highest paid player on the team and the media and fans expected another top-notch season. Chara would eventually become a Norris Trophy- and Stanley Cup-winner in Boston, whereas Redden would nix a couple of trade attempts from Ottawa and eventually leave via free agency to a massive contract and further decline. Many speculate that if Ottawa signed Chara, the team might have remained a top-tier team.

In July 2006, the Senators lost four players to free agency; the afformentioned defencemen Zdeno Chara (who signed a five–year deal with the Boston Bruins), Brian Pothier (who signed with the Washington Capitals), goalie Dominik Hasek (who signed a one-year deal with the Detroit Red Wings) and forward Vaclav Varada (who signed with HC Davos of the Swiss Elite League).