The Hurricanes may have just provided the Toronto Maple Leafs with a solution

It’s already past Labour Day and the Toronto Maple Leafs are yet to ink Mitch Marner to a contract extension. Though this seems like a bad thing, it might now be.

The recent contract extension the Carolina Hurricanes inked Seth Jarvis to could be the way out both the Toronto Maple Leafs and Mitch Marner have been looking for.

Here's why: The Hurricanes signed Jarvis to an eight-year extension worth $63.2 million. However, PuckPedia shows the deal is really worth $59.36 million. In other words, the Canes and Jarvis agreed to a deal that pays out $63 million but only counts $59 against the cap.

How is that possible? Deferred payments.

In short, the Hurricanes and Jarvis agreed that his signing bonus wouldn’t be paid until after the contract expires in 2023. That situation allows the Hurricanes to save roughly $7 million over the contract’s lifetime.

On the surface, it might seem like a bad deal for the player. But when you think about it more closely, it works out for both the player and the team. The deferred money allows Jarvis to collect a ninth year’s worth of salary if even he signs another NHL contract.

For the team, it helps add more cap flexibility. . If that’s the case, why can’t the Toronto Maple Leafs do that with Mitch Marner? Or even John Tavares for that matter? Simple. Most players don't want to do this.

The Hurricanes may have just provided the Toronto Maple Leafs with a solution

It’s worth pointing out that the Seth Jarvis contact defers the payment of signing bonuses, not salary. As such, Jarvis will get paid his NHL salary. It’s the signing bonuses that will be put on ice.

That’s precisely where the Leafs can benefit. The Maple Leafs typically pay most of their players in signing bonuses on July 1st. Then, the player makes a regular NHL salary, usually near the league minimum, for the rest of the season.

So, if the Leafs deferred Mitch Marner’s signing bonuses for one or two additional years, the Leafs could save some significant cap space.

This tactic could allow the Leafs to pay Marner the same as Auston Matthews. Let’s say that $13 million a season. Put $5 or $6 million as a signing bonus and that could lower Marner’s cap hit by half.

That sounds brilliant on paper, but there are two issues with that approach.

First, Marner could have to agree to that situation. Assuming he’s not a greedy person, he’ll consider such an arrangement seriously. He could get paid for two or more additional years even if he signs another contract.

Second, the league and the NHLPA would have to sign off on that deal. In particular, the league would have to agree that such structures do not constitute cap circumvention.

Personally, I don’t see how the NHLPA would be against something like this. This type of deal would allow players to get paid more than they otherwise would. For the league, it would avoid uncomfortable situations, such as the Leafs and Oilers currently face.

Overall, the Hurricanes may have paved the way for teams like the Leafs, Oilers, Rangers, or Boston (think Jeremy Swayman) to pay their top stars without becoming shackled by cap restrictions.