The Canucks went on to select Bo Horvat, a center from the London Knights of the Ontario Hockey League.
According to LeBrun, the two teams agreed to the swap on Saturday night.
Schneider, who posted a 17-9-4 record with a 2.11 goals-against average and .927 save percentage in 2013, was widely considered to be the goaltender of the future for the Canucks. The Canucks, according to Metro News, were initially looking to trade goaltender Roberto Luongo. Luongo has a $5.3 million cap hit through 2022, according to CapGeek.com.
Luongo struggled last season, posting a 9-6-3 record with a 2.56 goals-against average and a .907 save percentage.
Schneider will now likely back up goaltender Martin Brodeur with the Devils. Brodeur has one year left on his deal, with retirement being an option next offseason.
In Schneider, the Devils have a goaltender of the future and a plan after Brodeur retires—something the franchise was lacking. Schneider has elite potential, and it would not be surprising if he and Brodeur end up splitting the workload next season.
The Canucks will now have to rely on an aging and declining Luongo in their quest to return to a Stanley Cup Final. John Tortorella, their new coach, is used to having Henrik Lundqvist as his goaltender with the New York Rangers. Schneider, a potential star, could've offered the Canucks better goaltending for more years.
This trade weakens Vancouver in the short term while bolstering the Devils for the long term.