The Toronto Maple Leafs broke the bank for this third-Pairing defenceman

This offseason, Toronto Maple Leafs GM Brad Treliving decided to break out the team’s chequebook for a player that, frankly, isn’t quite worth the contract he got.

The defenseman in question is Oliver Ekman-Larsson, whom the Toronto Maple Leafs signed on the first day of free-agency this summer. I have nothing about Ekman-Larsson. I think he’s a fine defenceman. I just think he’s a fine third-pairing defenceman.

Now, why does that matter?

Ekman-Larsson was a valuable member of the Florida Panthers last season. He was one of the players who stuck with the team throughout the entire season, playing in all 24 playoff games for the Stanley Cup champions.

But here’s where things get interesting. Ekman-Larsson played largely sheltered minutes throughout the season, especially in the playoffs. In fact, I had my issues with Ekman-Larsson in the Conference Final series against the New York Rangers.

The Toronto Maple Leafs broke the bank for this third-Pairing defenceman

There were moments in the playoffs when it seemed he had concrete blocks for skates. Then, during the Stanley Cup Final, Ekman-Larsson got torched several times by players like Leon Draisaitl. In short, the Panthers knew that Ekman-Larsson’s overall play declined as the season and playoffs wore on.

Case in point, Ekman-Larsson averaged 18:24 minutes per game during the regular season. In the playoffs, that ice time dropped to 15:27 minutes.

That’s a clear indication that Panthers’ coach Paul Maurice knew he had to lean on his top four blue liners to shoulder most of the load. Moreover, it’s part of the reason why no one was shocked to see Florida passing on re-sign the 33-year-old back end. Let alone increasing his salary and giving him a four-year commitment.

There’s one thing I like to make clear. I think Ekman-Larsson was a fine signing. He’s a Stanley Cup champ and a savvy vet. At 33, he can still handle solid minutes. He’s still talented enough to where he could chip offensively.

My contention is the price tag attached to Ekman-Larsson’s deal. PuckPedia reports a $3.5 million cap hit over the next four years. By the end of his deal, Ekman-Larsson will be 36. By most standards, Ekman-Larsson is highly overpaid. It will be surprising to see him play like a top-four defenceman, particularly at this point in his career.

Of course, I could be wrong. He could channel his inner Mark Giordano and block shots until he’s 40. But that is doubtful.

In my estimation, the Toronto Maple Leafs hope to get a couple of productive seasons from Ekman-Larsson. If it turns out that he can’t really play anymore, or ends up getting squeezed out by prospects coming up the pipeline, we could see Ekman-Larsson head off to Robidas Island.

As it stands, Ekman-Larsson should be on the third-pairing, which makes his cap hit ridiculous. It would be quite surprising to see him play more than 15 or 16 minutes a night, that is if he can stay healthy. That sort of situation makes him a significantly overpaid bottom-pairing defenceman.

The Toronto Maple Leafs must be smarter with the salary cap allocations.