Around the time of the 2023 Stanley Cup Finals, the league all but confirmed that the salary cap for the 2023-24 season would be set at $83.5MM. It is expected to increase by a larger percentage by this time next summer, but a $1MM increase left a lot of teams with limited cap room to improve.
Impressively, after an assortment of trades and a plethora of free-agent signings, there is only one team that remains that is not currently cap compliant for next season. At this time, the Toronto Maple Leafs, even after LTIR space is factored in, the Maple Leafs will still be approximately $3.2MM over the salary cap.
Much of this has to do with the bloated contracts of Auston Matthews, John Tavares, and Mitch Marner, which carry a combined cap hit of $33.14MM, 39.69% of the team’s total financial capacity. There isn’t much concern that those three players are not worth those contracts, but Toronto will have to make a move nonetheless.
Looking at their cap situation, it appears the Maple Leafs have three different options in their approach to becoming cap compliant. The first of those options would be to move out goaltender Matt Murray, who has one-year, $4.688MM left on his current contract. It would not be hurting Toronto too much, as Murray had another disappointing season in 2022-23, and Joseph Woll gave the team some confidence to put him in a backup role behind Ilya Samsonov.
Finding a fit for Murray is going to be much more difficult than coming to the logical resolution of moving him. After a week of free agency, most teams have a full tandem in the net, and it’s hard to consider Murray an objective upgrade over the already established options. Scarcity aside, Toronto would more than likely have to attach a draft pick to entice teams to take on the final year of Murray’s deal, and the Maple Leafs may be unwilling to part with any of their third or fourth-round picks in the near future.
The second option would be for the team to trade forward Calle Jarnkrok and defenseman Conor Timmins for next to nothing. Carrying a combined cap hit of $3.2MM, clearing that out would get Toronto close enough to get crafty during the season. However, one of the major drawbacks of making a move such as this, both players are quality depth players (Jarnkrok being one of the most underrated in the league) and the Maple Leafs have had difficulty procuring players like this recently.
The last option for Toronto, and could become increasingly likely as far as negotiations have gone up to this point, is to move on from winger William Nylander. Nylander, as well as Matthews, are both up for max-term extensions this offseason, and Nylander and the Maple Leafs don’t appear close. In recent reporting, Nylander’s camp is asking for around $10MM a season, while Toronto is prepared to offer between $8MM-$9MM.
It’s tough to say Nylander hasn’t earned the contract that he wants, as he finished second on the team in scoring last season, and fourth on the team during the playoffs. Neither Matthews nor Marner seemed to take a “hometown discount” on their last deals with the team, so it’s unreasonable to suggest Nylander should either. It could become a best-of-both-worlds option for Toronto, as moving out Nylander would not only free up their cap situation but also bring back significant future assets in return.
In his first year as General Manager of the Maple Leafs, Brad Treliving has already made some prudent moves to improve the club. The acquisition of Tyler Bertuzzi, Max Domi, and John Klingberg should be significant additions, but the work is not close to being done in Toronto.
The comments on this post should be entertaining.
Who wants William Nylander for a 5th?
Much of this has to do with the bloated contracts of Auston Matthews, John Tavares, and Mitch Marner, which carry a combined cap hit of $33.14MM, 39.69% of the team’s total financial capacity. There isn’t much concern that those three players are not worth those contracts, but Toronto will have to make a move nonetheless.
Not sure a lot of Leaf fans would agree with this statement
One guy in particular
I don’t think they are bloated contracts based on what the actual net pay is. I think it’s just the price you have to pay to have top tier players in a Canadian market.
For me the issue is who they signed, sure they are top tiers players in the league but they are all soft. They built a incredibly soft team that lacks heart, grit and leadership. But these guys would be making this salary (net pay) with any team imo
Agreed. The best option.
“It could become a best-of-both-worlds option for Toronto, as moving out Nylander would not only free up their cap situation but also bring back significant future assets in return.”
Mo actually makes the most sense to trade especially if the leafs got EK
They have to shed salary to get compliant and you think they’re gonna take on another contract worth over $10 million per year?
Just throw 1-2 more players on injured reserve til the playoffs
The Leafs are going to need to attach a 1st or 2nd rounder to Murray to make anyone bite.
They buy him out instead
Eh, I’m a Bruins’ fan. Me, I think Dubas was high on whacky weed the day he traded for Murray in the first place. Their options there are slim. But I’d want a much better reason to dump Nylander than that they were afraid to give up a third rounder to offload Murray onto some other sucker. Sure, he’s going to want an unaffordable amount on his extension, but they’ll get better traction in dealing him at the deadline this coming season.
Good take
I haven’t met a leaf fan yet that liked that deal, or fan of any team for that matter. Absolutely horrendous trade by management
Yep. I could see some team take a flier on Murray … although Ottawa already had and it failed. But TORONTO? There were cheaper goalies out there, and they just didn’t have the cap space to screw around.
The klingberg signing was a head scratcher for me. Over 4 million for a defenceman who was a minus 28 last season. Schenn at 2.75 million would have been the better option.
Am I missing something or don’t they still need to come up with another $4 million to sign Samsonov?
They *could* sign Samsonov for his qualifying offer. The reason I wouldn’t just hand him $4 MM and term is this: Samsonov’s another one of the many erratic great-this-year/lousy-next year goalies. Which Samsonov shows up next season: the star of 2020 and 2023, the mediocre one of 2021, or the sieve of 2019 and 2022?
Yes but since he chose to go through the arbitration route there is no way they will get him now for the 1.8 mil. He is seeking between 4 & 5 and I am sure the arbitrator will lean probably close to 4. Either way it is still more money they need to come up with.
Isn’t this where the Coyotes come in and take on a bad contract for picks? ;)
Yotes would gladly take Nylander for one of their 2024 second-rounders. He would fit in nicely with GMBA’s offseason moves to become more competitive next season.
Let’s hope at least a team (Ari /Chi) make the Leafs pay that 1st to take Murray, last yr Chi got next to nothing to take Mrazak allowing the Keafs to make an even dumber trade for Murray!
Chi got the 1st pick (can’t remember but around 28-30) but in return the Leafs got a 2nd back (37?) that’s a hoorible return when the leafs were in cap trouble.
I wouldn’t trade a 40 goal scorer unless I was getting something back that helps us more than the 40 goals. We just added 3 guys that should add offense to our team. Having Nylander makes our top 2 lines that much more productive. I too would have rather kept schenn butall of our new players should be better in our system…hopefully. but I do see more offense this year…unless you get rid of a 40 goal man. I’d rather lose picks and off load Murray. I would consider harmonic and lindholm for Nylander and Lilgren. But I’m not sure that moves the needle that much. Maybe a bit because you’d have a great 3rd line center. But your 2nd line just list 40 goals. I’d just off load Murray.
Buying out Murray has to be the best option for Toronto to get close enough to being cap compliant.
Honestly terrible article. No mention of buy out for Murray. That is still possible in the second window due to having players signing for arb. No mention of Samsonov being unsigned. Blaming being over the cap on the core is lazy. Put some effort in guys.