Recent reports indicate that Nazem Kadri, the Calgary Flames' center, may be willing to waive his no-trade clause to facilitate a move to either the Toronto Maple Leafs or, surprisingly, the Montreal Canadiens. This development has ignited considerable speculation and discussion within the NHL community, considering Kadri's history with the Leafs and the Canadiens' status as a major rival.

Kadri, currently 34 years old, is under contract with the Flames for four more seasons with an annual average value of $7 million. The contract also contains a full no-movement clause through the 2025-2026 season, which then converts to a modified no-trade clause for the remaining three years. This means that Kadri must approve any trade for the current season, giving him significant control over his destination.

The possibility of Kadri returning to Toronto has been a recurring topic in NHL trade rumors. The Maple Leafs are reportedly seeking to add a top-six forward, especially after Mitch Marner's departure to the Vegas Golden Knights. Kadri, who played for the Leafs for several years, could provide the team with scoring, grit, and playoff experience. He was initially drafted by Toronto in 2009 and played with the team until 2019. However, his tenure was also marked by playoff suspensions, which ultimately led to his trade to the Colorado Avalanche.

Despite the potential benefits of a Kadri return, several obstacles exist. The Maple Leafs' salary cap situation is tight, and acquiring Kadri's $7 million cap hit would require some financial maneuvering. Additionally, the Flames may be reluctant to trade Kadri to a division rival, especially one with whom their general manager, Brad Treliving, has had difficulty completing deals in the past.

The emergence of the Montreal Canadiens as a potential destination for Kadri adds an intriguing twist to the situation. The Canadiens are also looking to bolster their top-six forward group, particularly at the center position. Kadri could provide a veteran presence and offensive boost to a young Canadiens team.

However, similar to the Leafs, the Canadiens face their own challenges in acquiring Kadri. Montreal's current cap situation would require them to shed salary to accommodate Kadri's contract. Whether the Canadiens are willing to make the necessary moves remains to be seen.

According to Sportsnet's Nick Kypreos, Kadri would be willing to waive his no-trade clause for the Canadiens. Kypreos suggests that the Canadiens might be a more realistic destination than the Maple Leafs, given the difficulty Treliving has had in making deals with his former team.

Kadri himself has acknowledged the trade speculation, stating that he finds it "bizarre" to see his name circulating in rumors. However, he has not explicitly expressed a preference for either Toronto or Montreal.

Ultimately, whether Kadri ends up being traded to either the Maple Leafs or Canadiens depends on several factors, including the willingness of the Flames to trade him, the ability of the Leafs or Canadiens to make the necessary cap adjustments, and Kadri's own preferences. As the offseason progresses, this situation will be one to watch closely.