If the Toronto Maple Leafs do sign Morgan Rielly to a contract extension, there is no issue with it being for $8 million or more. Toronto currently has about $13.7 million in available cap space for next season.
That is more than enough room to sign Rielly. If this off-season is any indication of what to expect, Toronto will end up paying Rielly between $8 million – $9 million annually.
The good news for Toronto is Rielly is only one of two important contracts the team has to worry about for next season. The other contract will be for goaltender Jack Campbell.
Depending on how well Campbell plays this season, he could get a deal similar to what the Maple Leafs just gave Petr Mrazek ($3.8 million). If Mrazek outplays Campbell, then Campbell’s new deal will likely be closer to $3 million than $4 million.
Toronto Maple Leafs Must Sign Rielly Before This Season Starts
Toronto Maple Leafs general manager Kyle Dubas can not let another pending unrestricted free agent walk away for free. If he can not get Rielly signed to an extension, then he needs to trade Rielly for assets in return.
Rielly is 27 years old and is making $5 million this season. He’s a top defenseman who currently has one of the best value contracts in the NHL, if the Leafs wanted to trade him they should be able to ask for a lot in return.
The only issue with trading Rielly is finding a decent replacement. Toronto can not afford to have that big of a hole in their roster for this season.
The first option that Toronto has is for Rasmus Sandin to play in Rielly’s spot. Sandin filled in for Rielly a bit last season and seemed to play well with T.J. Brodie.
The second option is to sign an unrestricted free agent on a short-term deal. Toronto is not going to find any big point-producing defensemen still available in free agency. They will find serviceable defensemen who can play a lot of minutes, and that is about it.
A few possible unrestricted free agents that are still available are Erik Gustafsson, Zdeno Chara, and Jordie Benn. None of these defensemen should interest the Leafs in any way.
The third option for Kyle Dubas and the Toronto Maple Leafs is to trade Rielly straight up for his replacement. Whether the other player has one year left on his current deal like Rielly or has few years left, a straight-up trade is possible.
I think the Maple Leafs should try their best to sign Morgan Rielly first. If they can’t get him signed to a deal for 6-7 years at $8 million, they need to trade him.
Next year’s free-agent class has a lot of defensemen that might interest Toronto. If they trade Rielly, they could look to fill his spot for this season and take their chances with free agency in the summer.