Joe Cannon back to San Jose
And what did LA get in return for Cannon? A partial allocation. Cannon was a candidate for Goalkeeper of the Year as recently as 2006 and last year he was one of the big reasons LA even had a chance to make a late playoff run, yet all they got was a partial allocation. And I think they are fine with that.
Their real reason for the trade was to open up salary space. Last year Cannon was the third best-paid keeper at $192,000. Since the Galaxy need so many players to fill up holes in their lineup, they had to find space somewhere (especially since they don't really have any one to trade).
LA doesn't really have a backup keeper right now so they can up that to their shopping list, but if there is one thing that you can usually find cheap in the league is a quality 'keeper.