As the NHL season approaches American Thanksgiving, trade winds are picking up, and the Toronto Maple Leafs find themselves at the center of speculation. Insiders suggest that General Manager Brad Treliving is actively exploring options to revamp the roster following an underwhelming start to the season marked by inconsistency and injuries. TSN insider Chris Johnston's latest trade board has identified defensemen Brandon Carlo and Morgan Rielly as potential trade candidates.
Brandon Carlo, acquired by Toronto from Boston before the trade deadline in March 2025, could potentially bring back surplus value in a trade. However, trading Carlo would necessitate finding another sturdy right-side defenseman. Several teams may view Carlo as a valuable addition to their blue line.
Morgan Rielly, the longest-tenured Maple Leaf, also finds himself on the trade board. Despite a no-movement clause and seemingly no desire to leave Toronto, the team's difficult start has led management to consider all options. Rielly had a discussion with Treliving in May and dedicated himself to improvement over the summer, but the team is still trying to find the right defensive combinations. Adam Proteau from The Hockey News speculated Rielly could be offered to Pittsburgh for Erik Karlsson or New Jersey for Dougie Hamilton, but those scenarios are unlikely. Karlsson would need to waive his no-move clause, and Hamilton has expressed his desire to stay in New Jersey.
The inclusion of Rielly, previously considered untouchable, in trade discussions is particularly noteworthy. The Maple Leafs attempted to acquire Rasmus Andersson from Calgary last season and may renew their efforts. However, the Flames' asking price could include top prospect Easton Cowan, which the Leafs are hesitant to offer.
Other potential trade candidates for the Leafs include veterans like Max Domi and depth forwards like Calle Jarnkrok, Nick Robertson, Bobby McMann, and Dakota Joshua. However, these players may not yield significant returns. Cowan and Matthew Knies are highly coveted by other teams, but the Leafs are unlikely to trade them.
The Maple Leafs have limited salary cap space, requiring any trade to be financially balanced. Treliving's previous trade of a first-round pick and top prospect for Carlo suggests he will seek a significant return for the defenseman. With the Leafs seeking a top-six forward and a top-four defenseman, potential targets could include players from teams like the Nashville Predators. Options could include Ryan O'Reilly, though a return to Toronto may not be his priority.
