Toronto Maple Leafs general manager Brad Treliving. Dan Hamilton-USA TODAY Sports

If the Toronto Maple Leafs are going to add the trade piece they believe they need to get them over the hump this season, they’ll have to give to get it. That said, as of right now, it doesn’t appear GM Brad Treliving is willing to give all that much. His unwillingness to move anything of real value has frustrated teams the Leafs are talking to. It will be interesting to see who budges first.

The Maple Leafs are actively exploring the trade market in search of defensive reinforcements. However, Treliving is adamant about excluding two of the team’s promising prospects, Easton Cowen and Fraser Minten, from any trade offers. Analyst Anthony Di Marco from The Fourth Period suggests that Toronto is reluctant to part ways with these two forwards, especially when aiming to strengthen their defensive lineup. He writes, “Prospect forwards Easton Cowen and Frazer Minten were described to me as “non-starters” for the Leafs. The coy approach of Toronto has left more than one team a little frustrated with trade talks.”

Sources indicate the Leafs expressed interest in not only Nikita Zadorov but also Chris Tanev from the Calgary Flames. There’s a belief that Calgary would have needed to retain salary for both players to facilitate a deal. According to insider Elliotte Friedman, Tanev remains a primary target for Toronto, and there’s optimism that Treliving can secure a contract extension with the player. The consensus is that the Leafs are holding off on pursuing other defensemen until the Tanev option is no longer viable.

Apart from their interest in Flames defensemen, the Maple Leafs have also been monitoring Philadelphia Flyers blueliner Rasmus Ristolainen. Discussions with the Flyers took place last Wednesday, but as of now, talks have not progressed. Toronto has reservations about Ristolainen’s three-year term beyond the current season and has communicated the need for salary retention from the Flyers.

How Much are the Maple Leafs Willing to Give?

It makes sense that Toronto isn’t wanting to trade either of Easton Cowan or Fraser Minten. Both players just made the Canadian World Juniors team and they are highly regarded as two of the Leafs' best prospects. Calling them “non-starters” in trade discussions is interesting considering Toronto’s needs. As such, it’s understandable that teams trying to make trades are frustrated.

Multiple league executives have noted that Treliving has yet to show his hand. What he’s willing to pay for a defenseman is unclear. Part of that could be Toronto’s lack of picks. But, despite limited assets, Toronto is hesitant to part with valuable pieces. Pierre LeBrun suggests that the Leafs might consider offering their June first-round pick to expedite a Tanev trade.

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