MAPLE LEAFS CAUTIOUSLY EXPLORING MARKET

TORONTO, ON — The Toronto Maple Leafs want to bolster their defensive corps, that’s not a secret. General Manager Brad Treliving has been open about his desire to add a blueliner, but the Leafs are proceeding with caution.

Given Toronto’s proximity to the salary cap ceiling, even with John Klingberg shut down for the season and placed on LTIR, the Leafs are looking for the right deal.

The Leafs have just under $1.46 million in salary cap space through LTIR overages, even with Klingberg and his $4.15 million cap hit now on LTIR. The Leafs used up a chunk of Klingberg’s hit when they called up several players from the AHL recently, including Martin Jones and Maxime Lajoie via emergency loan, accounting for $1.65M against the cap.

Treliving is being strategic, and he’s not willing to tip his hand – even with the teams he’s had trade talks with.

According to separate sources, an offer was not formally made for Chris Tanev and Nikita Zadorov from the Calgary Flames, before the Flames dealt Zadorov to the Vancouver Canucks. Inquiries for Sean Walker and Rasmus Ristolainen with the Philadelphia Flyers were just that – Treliving did not divulge that he would be willing to give up for either player. The same goes for Anaheim’s Ilya Lyubushkin, whom we first reported last month was on Toronto’s radar.

It's tougher to make a trade when the other team doesn’t know what you’re willing to cough up for their players, but the heightened level of secrecy has purpose. People talk – thankfully or else a big part of my job would be obsolete – and the sense is Treliving and the Leafs are stealthily exploring multiple options and want their potential moves tight lipped, kind of like Shohei Ohtani’s free agency gameplan.

Tanev and Lyubushkin are still targets. They like them and the physicality they bring to the table. They also like Ristolainen, despite some locals crying over it. But the Flyers aren’t eager to move Ristolainen, who has actually seen a resurgence in his game under Philly Head Coach John Tortorella, and Toronto would want some salary retained.

I believe the Leafs also have interest in is Mario Ferraro of the San Jose Sharks. The 25-year-old comes with a $3.25 million cap hit and has two more years left on his contract after this season. The Sharks are willing to listen and they are also one of the few teams also willing to take on contracts from cap-strapped clubs (for a price).

Yes, the Sharks are playing better lately, but let’s not overestimate their recent heater. This team is still rebuilding; they are going move several players by the trade deadline.

Another team to keep tabs on is the Seattle Kraken. Currently six points out of a playoff spot with an 8-13-6 record, if the Kraken are too far back of a playoff spot by mid-February and the Leafs are still in need of a rearguard, Brian Dumoulin could be a player they zero-in on. He has another year left on his contract at a $3.15M annual hit and owns a 10-team no-trade list.

Treliving and the Leafs are keeping conversations close to the vest and don’t seem ready to pull the trigger on a move just yet. The holiday roster freeze spans Dec. 20-27. Whether we see a move before or after that break is up to Treliving.

LAST ALL-STAR UNTIL 2027?

This season’s All-Star Weekend in Toronto may be the last the NHL puts on until the 2026-27 season.

As I tweeted (X’d?) about earlier in the week, if the NHL moves ahead with its four-country in-season tournament next season, and that seems likely, it will be in lieu of the 2025 NHL All-Star Game. And if the players head to the 2026 Winter Olympics, there won’t be any All-Star festivities then, either.

Why is this significant? Well, despite everyone chirping about the weekend’s on-air entertainment value, it’s an event teams and cities like to host. There is a local economic benefit to hosting, and it gives teams promised a significant event an opportunity to flex their muscles to the rest of the league, sponsors and its local fanbase.

Markets like Edmonton, Detroit, Seattle and Long Island have been itching to host a major event and may be limited to the NHL Draft for the foreseeable future, which will have a new decentralized format starting in 2025.

HERE AND THERE

• On the Olympics: the NHL has been planning for, and expecting, the players to head over to Milan for the games in 2026. This latest wrinkle – kind of a big deal, since the building is just starting to get constructed – is to apply pressure on the IOC.

• Confirmation on a new plot of land in northeast Phoenix, near Scottsdale, that will be used to build a new home for the Arizona Coyotes is expected just before or right after the New Year. Yes, we’ve seen this before, so I don’t want to get too ahead of myself here, but if this does come to fruition, does Salt Lake City – the backup for the Coyotes, should they be forced to move – jump to the top of the expansion list, ahead of Atlanta and Houston?

• Speaking of the ‘Yotes, they are rolling right now, and this team will be looking to add if they remain in the playoff hunt near the deadline.

• Congratulations to two-time Stanley Cup champion, and good friend, Dustin Brown on Wednesday’s induction into the U.S. Hockey Hall of Fame. Outside of Los Angeles, Brown doesn’t get enough credit for what he brought to the table during the Kings’ 2012 and 2014 Stanley Cup runs. His determination, grit and overall game made him a local icon in the market and a fan favourite to this day. He’s also the first (and only) U.S. born captain to hoist the Cup twice.

• Veteran left wing Max Pacioretty has been on the ice for the last month and is another 2-3 weeks away from making his debut with the Washington Capitals. The Caps are, for now, in the mix for a playoff spot and adding a healthy Pacioretty and his offence will help.

• There remains plenty of trade speculation surrounding Montreal Canadiens goalie Jake Allen, but don’t forget about forwards Christian Dvorak and Joel Armia – they’re still on the block.

• I’ve been under the weather with strep, so my regular appearances on NHL Network and SiriusXM NHL Network Radio have been limited this week – giving you a nice break from my face and voice. Hope to be back to normal next week.