New Additions: F Matias Maccelli (from UTA), F Nicolas Roy (from VGK), F Michael Pezzetta (2yr x $787.5k AAV), F Travis Boyd (1yr x $775k), F Vinni Lettieri (1yr x $775k), D Henry Thrun (from SJS), F Dakota Joshua (from VAN), G James Reimer (PTO)

Subtractions: F Mitch Marner (to VGK), F Ryan Reaves (to SJS), F Pontus Holmberg (to TBL), F Max Pacioretty (Retired), G Matt Murray (to SEA), D Jani Hakanpaa (FA)

Retentions/Extensions: F Matthew Knies (6yr x $7.75M AAV), F John Tavares (4yr x $4.38M AAV), F Steven Lorentz (3yr x $1.35M AAV), F Nick Robertson (1yr x $1.825M), G Dennis Hildeby (3yr x $841.67k AAV), G Anthony Stolarz (4yr x $3.75M AAV)

Seven years ago, the Toronto Maple Leafs shocked the world, by going from dead last in the standings, to making the playoffs and taking the Presidents’ Trophy winning Washington Capitals to six games. The main reason for this giant leap were three young players who all played their first full season in the league in 2016-17, Auston Matthews, William Nylander, and Mitch Marner. The future looked bright in Toronto, and in 2018, the Leafs landed the biggest free agent of the decade, a man who grew up just outside the city, John Tavares. Bringing in a player like Tavares in the prime of his career, combined with the young and talented team, gave the Leafs a core to build around, and made fans really excited for what was to come. They did not want to get their hopes up, but it felt like they had a future Stanley Cup winning team on their hands. Fast forward to 2025, the ‘Core Four’ era is over, and all they have to show from it is two playoff series wins.

For years, after every disappointing playoff exit, the Toronto media has questioned the Leafs commitment to their four star players. For a while it was Nylander who fans wanted to see moved, then John Tavares was too old and slow for the team, but in the last few seasons, the most scrutinized player has without a doubt been Mitch Marner. Not without reason, as Marner’s play almost always dropped in the playoffs. In the regular season, Marner has a career 1.13 point per game player, and although he is not known as a scorer, he still scores 0.33 goals per game (once every three games). In the playoffs, his points per game drop to 0.9, and his goals per game to 0.19 (once every five games). Whether it was the bright lights of the playoffs, or his flashy playmaking play style not translating as well to the physicality of playoff hockey, he is not as effective when it matters most. Dealing with the Toronto media is no easy task, and Mitch had enough, his mind was made up, he was going to leave the team. On semi short notice, the team was able to at least get something in return for him, rather than letting him walk for nothing. A sign and trade was completed with the Vegas Golden Knights, bringing in Nicolas Roy, and saying goodbye to number 16.

Losing a player like him hurts, as there is no replacing them in the short term, if ever, instead this team will have to retool and rely more heavily on their other star players. Despite Marner leading the team in points last season, I believe he was the third best forward on the team, as I prefer Matthews and Nylander. Matthews had a down year putting the puck in the net last season, although it was clear that he was dealing with a lingering injury. The American sniper had a career low 33 goals, but was able to still provide elite production with 78 points in 67 games, and continuing to be great in the defensive end. Picking up the slack in the goals department, Nylander enjoyed a career best 45 goals, marking the third straight year he has scored 40+. Assuming any lingering injuries are behind him, I expect Matthews to return to his usual self and be in the race for the Rocket Richard Trophy all season. Nylander has yet to record 100 points in a season this year, but with Marner out of town and him having to step up, I can see that changing and him setting a new career high (currently 98 points).

Even if the team’s offense takes a hit losing Marner, this is no longer a Leafs team that needs to win games 5-4. They allowed the 8th fewest goals last season, thanks to elite goaltending, coach Berube’s system, and maybe the best D corps the Leafs have had in decades.

Beginning with the goalies, the Leafs took a shot on Anthony Stolarz in free agency last year, after he was one of the league’s best backups in Florida the year prior. It did not cost them much either, as he was brought in on a two year deal with a $2.5M cap hit. Stolarz was nothing short of excellent, although injuries limited him to just 34 games, he finished fifth in Vezina voting due to a 21-8-3 record, a .926 SV%, a 2.16 GAA, and 4 shutouts. He was the team’s starter in the playoffs until he was run into by Sam Bennett, forcing Joseph Woll to have to take over. Woll had no issue doing so, as he was the starter for most of the season anyways, and had an impressive year, going 27-14-1, with a .909 SV% and a 2.73 GAA. The two form one of the best tandems in the NHL, and both are more than capable of being leaned on as the starter, the only thing holding them back is their injury history. Toronto will have the two for at least the next three seasons after extending Stolarz for four more seasons at an AAV of $3.75M. While some teams are now paying one goalie over $8M, between the two of them they make less than $7.5M, allowing them to spend money elsewhere.

As for this elite D corps, what they may lack in an elite number one defenceman, they make up for in depth, as most of the unit could be another team’s second to third best defenceman, and the Leafs have five of them.

Morgan Rielly would classify as the number one defenceman, and on some nights he looks like it. There is no question he is a fantastic offensive minded player, but his production has fallen a bit in recent years. When he had 20 goals and 72 points in 2018-19, it looked like he could grow into one of the league’s top offensive defencemen, but since then he has only scored double digit goals in a season once, and had more than 50 points twice. The team ran five forwards on the powerplay last year, and with Marner gone, Rielly could step in and get back to that production. At times he can be a defensive liability, and he is more suited to be on the ice when the team is down a goal and needs one, rather than when the team needs to protect a one goal lead.

In the past few seasons, the front office has done a really good job of adding complimentary defencemen. Chris Tanev and former rival Brandon Carlo are both great shutdown, right handed D men, who can limit the opposing team’s best players, and use their size to their advantage. Jake McCabe and Oliver Ekman-Larsson (OEL) are solid two-way players who can stay at home and defend on some shifts, and jump up on the rush on others. The four of them along with Rielly can go head to head with any other team’s five best defencemen, they give you a little bit of everything and they are all veteran, established players in the league. Now of course there are six defenceman on a lineup sheet, Simon Benoit has earned the right to be the sixth D for now, but guys like Phillippe Myers and Henry Thrun (acquired from San Jose this offseason) could find their way into playing some games this season.

Depth scoring has been an issue, especially in the playoffs for Toronto. No longer paying Marner ~$11M, and Tavares taking a massive pay cut has given the team more wiggle room to fill out the roster than ever before. 

Matthew Knies was a potential offer sheet candidate as many teams were reportedly interested in the pending RFA. Treliving knew how big of a piece he was to the team, and did not let it get that far, before free agency began he was signed to a six year extension with a $7.7M cap hit. Knies has grown into one of the best modern power forwards in the NHL, and is poised to keep improving year after year. Tavares was also set to hit free agency, as a UFA. Coming off a 38 goal, 74 point season, it was a bit of a surprise when the veteran forward took a pay cut to stay with the team at a very friendly AAV of $4.38M. Knies and Tavares are the next men up after Matthews and Nylander, and getting them both re-signed was huge.

Now, the newcomers. Nicolas Roy comes to Toronto after spending the majority of his career as a Golden Knight. Getting anything for Marner was a bonus after the team knew he was leaving, and Roy is a solid third line center who can get you 15 goals and 30-40 points. He will provide depth down the middle and some scoring in the bottom six. Matias Maccelli played some good hockey between 2022-2024, as in two full seasons in Arizona, he recorded 106 points in 146 games. But struggled when the team moved to Utah, as he only managed to get 18 points in 55 games last season. He will get some looks in the top six, and the hope is he can provide some of the playmaking ability that was lost this offseason, a low risk high reward trade if he can return to form. Another player hoping to bounce back is Dakota Joshua, who had seemingly found a home in Vancouver, as he was beloved by the fans, and in a depth role had 22 goals and 40 points in 76 games (including playoffs) for the Canucks in 2023-24. But last year, the season began with a testicular cancer diagnosis, and he was unfortunately not able to find his stride the rest of the season. Back and healthy for the start of the year, it will not take long for Joshua to become a fan favourite in Toronto too, he plays a fun style of hockey and has a relentless motor. For the fans saddened by Ryan Reaves being traded, Michael Pezzetta looks to replace his fourth line enforcer role.

The Leafs keep some familiar faces too such as Max Domi, Bobby McMann, Nick Robertson, Calle Jarnkrok and Steven Lorentz. Fans know what they bring to the table. Scott Laughton is hoping to put up some better numbers in a Leaf uniform, as the deadline acquisition only managed to record 6 points in 36 games (including playoffs), after the team traded a first round pick and a prospect to get him. While the prospect pool is thin, there has been one blue chip prospect in the organization for a few years who is hoping to become a full timer this year, Easton Cowan. The 2023 first round pick has been one of the best players in the OHL over the last two seasons, winning two straight league titles, and winning the Memorial Cup this past year. Expectations are high but he might have to start the year by earning his minutes in a bottom six role.

It is no secret that the high end talent on this roster took a hit by losing Marner, few players in the league are able to do what he does on a nightly basis. What I will say though, is that this team may be more complete than it has ever been in this era, and they used the money freed up to go and get some impactful players. They have skill, they have grit, they have depth, goaltending and defense are no longer an issue, and they have a Stanley Cup winning coach. Not that he was a net negative, but losing Marner could be addition by subtraction, how much was he really helping them in the playoffs anyways? I think the big guns step up even more in his absence, and the team can actually count on their new found depth scoring. I believe in this team, and I think not only are they capable, but due for a deep playoff run.