Retain salary in trade deadline sell-off...
This is the most likely scenario, in my opinion. Unlike recent seasons, the Blue Jackets have several pending UFA pieces that could be up for grabs at the trade deadline this year. Their value ranges from top-four defenseman (Ivan Provorov) to gritty depth players (Sean Kuraly, Mathieu Olivier, Justin Danforth); but all could be sought after by playoff contending teams.
As you would expect, a lot of these teams are going to be in cap trouble. Which means that often, salary retention could make a player's value to from middle (4th-5th) round pick to higher (2nd-3rd) round pick.
In fact, if someone like Provorov were to have a productive season and boost his value, I could see the Jackets netting a first round pick, plus more; if they're willing to eat half of his remaining $4.725m AAV. Those could be valuable trade chips next summer, when the team could look to add another quality prospect - or even a replacement player to the roster.
This is where having cap space and all three of their retained cap slots available, could really come in handy. Teams are usually desperate at the deadline, especially if they've run into injury troubles during the season.
What else could happen with this space? Well, the next page isn't quite as positive.