Maple Leafs Could Be Setting Up Surprisingly Big Trade With Penguins

While free agency has been open for a few days now, there are still plenty of players available for teams to sign. That isn't the only moves teams are trying to make though as the Toronto Maple Leafs are looking to possibly make a couple of trades, moving out some money and upgrading.

The defense is one area that could use a boost in terms of offense and puck-moving ability. They aren't going to find that internally or any more than they already have with their current players. The top six defensemen are made up of four lefties and two righties. There is an opportunity to even that up and address the lack of offense and puck-moving ability all in one trade.

Erik Karlsson is second on The Fourth Period's 2025 summer trade watch list and he is one of many players on the Pittsburgh Penguins that are rumored to be on the move. To exactly where, that hasn't revealed itself yet. But the Maple Leafs could definitely be a landing spot considering the need.

The Penguins are reportedly shopping Karlsson and the veteran defenseman is said to be open to move to a contender as he has full control of the situation with two years left on his deal and a full no-move clause on his contract. His cap hit is $10 million AAV and the Penguins are capable of retaining up to 50% of that. While it would cost more for Pittsburgh to retain $5 million each year, retaining some money will be part of trading him as no logical contender just has that much money sitting around with a position not addressed.

The Maple Leafs have $5 million in projected cap space and a full roster at this point, but that doesn't mean players can't be moved. If Karlsson is to be headed to Toronto, there is a chance Brandon Carlo is a piece going back. He plays the right side, was in some trade rumors ahead of free agency, has a cap hit of $3.485 million AAV for two more years, only an eight-team no-trade clause, and plays a different style of game than Karlsson. Simon Benoit may be another option on the back-end. I don't think Morgan Rielly is willing to move yet with three years left on his contract before the full no-trade clause turns to a 10-team no-trade clause.

Considering the Maple Leafs are also trying to move on from at least one of Calle Jarnkrok, Nick Robertson, or David Kampf, one of them could also be included in a trade to help with money. Robertson would make the most sense considering his age and where the Penguins are. This is just a speculative trade as Karlsson hasn't directly been linked to Toronto, but his style of play and willingness to play for a contender while the Maple Leafs are still looking to trade this offseason lines up pretty well.