The Maple Leafs and Blue Jackets have been tied to a blockbuster that could send Matthew Knies to Columbus and bring Kirill Marchenko to Toronto, but the deal is still being worked through and nothing is official yet.
Elliotte Friedman first reported that the two teams were in trade discussions. From there, the picture got more complicated fast: an extension for Marchenko is part of the conversation, salary cap math matters, and Knies is included in the package headed back to Columbus.
Pierre LeBrun wrote, “The proposed Leafs-Blue Jackets trade involves multiple pieces, including Knies and Marchenko, and it’s not a done deal yet. Both teams still working through things.
Plus Leafs negotiating with Marchenko’s agent Dan Milstein.”
Emily Kaplan of ESPN added another important layer, saying, “Also, sounds like the trade will only go through with Marchenko agreeing to an extension in Toronto - which is being worked on now.”
Friedman later updated his report and said Columbus had given Toronto permission to talk to Marchenko about an extension, while noting that the final structure was still unclear. He also pointed out, “League-wide opening-night cap-compliant roster deadline is 5 pm ET.”
That cap compliance piece is a big part of the equation, since the Leafs need a roster that works for opening night. Friedman also said, “I believe Toronto is taking Elvis Merzlikins if this goes through.”
The trade chatter has naturally turned into a simple question: who comes out ahead if this gets done?
Eric Engels framed it this way: “Ok… Matthew Knies is a 23-year-old with 58- and 66-point seasons under his belt. Will make $7.75M on cap for next five seasons.
Guy is 6-foot-3, 231lbs, built for playoff hockey. I don’t think we can definitively say that about Marchenko, but he will almost certainly score at a higher clip next to Matthews and potentially prove he is a playoff guy.
Still, he’s 26, he’s topped out at 74 pts and, after this year at $3.85M, he’s getting mega bucks. So, take the other pieces out, who wins this deal?”
Jeff Veilette answered with a different spin: “Standing at a massive 6’3 with 124 points in his last two seasons, Matthew Knies is built for the dance. It remains to be seen whether Kirill Marchenko, who stands at a mere 6’3 with only 139 points in his last two seasons, can fill his Herculean footsteps.”
There’s also a sense that this idea may not have come out of nowhere. The talks may go back as far as the NHL Draft, and while the move feels sudden now, it may have been on the table before. Knies trade conversations have already happened, and the Blue Jackets have been taking calls on Marchenko.
From Toronto’s side, the fit is what makes this tricky. Knies has been a meaningful part of what the Leafs are building, and his contract looked especially valuable in a rising cap environment. Marchenko should bring more goals, but that likely comes with a much bigger price tag once the extension is factored in.
Merzlikins is another wrinkle. The Columbus goaltender is recovering from major shoulder surgery, which makes the move look like salary relief for the Blue Jackets and a chance for Toronto to create cap space by taking on another LTIR situation. Whether he plays this season is still unknown.
If Columbus does land Knies, that would be a strong return for a player who, by the end of his contract, had done everything short of saying outright that he was leaving.
In Other News...
Maple Leafs Face One Costly Marchenko Question
Kirill Marchenkos future in Columbus has suddenly become a topic of real interest around the league, and Toronto is among the clubs being mentioned as a possible landing spot. The Blue Jackets forward has publicly requested a trade, even while reporting to training camp, which has only added to the intrigue for teams looking for scoring help. For the Maple Leafs, it is the sort of situation that naturally invites debate, because Marchenkos talent would fit into a market that is always searching for more offense.
The harder part for Toronto is the price. Any serious pursuit would almost certainly force the Maple Leafs to weigh young pieces such as Easton Cowan, Ben Danford, Harry Nansi, and Matthew Knies, the kind of names that make any trade conversation uncomfortable in a hurry. That is the tension now: Marchenko could give Toronto a useful boost, but only if the Leafs are willing to pay a cost that changes the calculus of what kind of deal makes sense for the present and the future. [Read more 🡒]
Maple Leafs Have A Chance To Create A Family Story Fans Will Love
The Rangers are putting Taylor Raddysh on waivers, and that gives the Maple Leafs a small but intriguing opening as roster decisions start to come into focus. Toronto has not made a waiver claim yet this offseason, but with those calls approaching, this is the kind of low-risk move teams around the league have to weigh carefully.
For the Leafs, the appeal goes beyond the depth chart. Taylor is the brother of Toronto player Darren Raddysh, which means a claim would create a family tie that fans would instantly latch onto. It is the sort of feel-good angle that can make a mundane transaction a little more interesting, even if the final decision still comes down to how the Leafs want to handle the rest of the offseason. [Read more 🡒]
Former Leafs Just Landed In A Spot Toronto Can't Really Use
Several former Maple Leafs are among the names who surfaced on waivers as NHL clubs move to finalize their rosters ahead of the 2026-27 season deadline, a familiar point in the calendar when depth pieces start bouncing around the league. Steven Lorentz, Philippe Myers, Calle Rosen, Ilya Samsonov, Sam Lafferty, Henry Thrun and Sammy Blais are all in that group, giving teams 24 hours to decide whether they want to make a claim before those players are sent to their AHL affiliates.
For Toronto, the timing makes the whole thing more interesting but not especially practical. The Maple Leafs have limited roster and cap space after their recent signings, which means even a player with a familiar face or a useful fit has to clear more than just a quick look from the hockey ops staff. It is the kind of waiver window that can create a lot of noise around former Leafs, even when the path back to Toronto is harder than it looks. [Read more 🡒]