Maple Leafs Rumors: Toronto may have a trade path with $60M D-man

The Toronto Maple Leafs will now be moving toward a major roster reset, and veteran defenseman Morgan Rielly remains at the center of the speculation. After a disappointing 2025-26 NHL season that saw Toronto finish last in the Atlantic Division at 32-36-14 and miss the Stanley Cup Playoffs for the first time in nine years, new management is exploring significant changes across the roster.

Rielly, the longest-tenured player in the organization, carries an eight-year, $60 million contract with a $7.5 million cap hit through 2029-30. His full no-movement clause (till 2027-28) complicates any deal, but recent reporting suggests a trade may not be out of the question.

Speaking on the JD Bunkis podcast, The Athletic’s James Mirtle indicated that discussions have taken place regarding Rielly’s future.

“I believe there have been conversations about it,” Mirtle said. “I believe that at the end of the day, that Morgan Rielly likely will waive his no-move clause, assuming the Leafs can find a suitable trade partner.”

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Mirtle added that he does not expect Rielly to limit Toronto to only one or two destinations, potentially giving the organization more flexibility in negotiations.

“I think that that’s potentially a challenging contract to move, and it might be one of those situations,” Mirtle said. “… Let’s say you strike out on your option A and your option B, and you’re down to your C and D choices, and I think that that’s probably where Morgan Rielly is going to be on the list for some teams.”

Why a Morgan Rielly trade make sense for Maple Leafs?

Rielly is coming off one of the toughest seasons of his career. The 32-year-old recorded 11 goals and 36 points in 78 games while posting a career-low minus-18 rating. His 0.46 points-per-game average represented a sharp decline from previous years and highlighted his struggles within Craig Berube’s system.

From a team-building standpoint, moving Rielly could help Toronto reshape a blue line that lacked mobility and consistency throughout the season. New general manager John Chayka has already signaled that changes must come, and creating cap flexibility will likely be their priority.

Mirtle pointed to the San Jose Sharks as a possible landing spot.

“I’ve heard San Jose a lot, and that makes a lot of sense to me as a young team that needs help on the back end,” Mirtle said. “They want to bring in someone, a character player, who could mesh well with someone like Macklin Celebrini and help their power play.”

The biggest obstacle remains the contract. However, Mirtle believes retention could bridge the gap, especially with the NHL’s salary cap rise.

“If you have to eat $500,000 or a million dollars of Rielly’s deal in order to get something back, I think that that’s totally fine,” Mirtle said.

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For Toronto, the decision comes down to balancing loyalty with roster construction. Rielly remains a respected leader and franchise fixture, but the Leafs’ current direction suggests difficult decisions are necessary. If teams miss out on preferred defensive targets in free agency and the trade market, Toronto may finally find the pathway needed to move its veteran blueliner.