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May 14, 2025; Toronto, Ontario, CAN; Toronto Maple Leafs forward Auston Matthews (34) and forward John Tavares (91) and Florida Panthers forward Brad Marchand (63) battle for a puck during the second period of game five of the second round of the 2025 Stanley Cup Playoffs at Scotiabank Arena. Mandatory Credit: John E. Sokolowski-Imagn Images

Panthers’ Series Win Over Maple Leafs Shows Importance of Trade Deadline Success

Originally posted on The Hockey Writers
By Justin Giampietro | Last updated May 20, 2025 9:35 AM ET

The Florida Panthers and Toronto Maple Leafs faced off in a down-to-the-wire second-round series that, ironically, ended in a 6–1 blowout in Game 7. For Toronto, it’s the same old story—the stars didn’t show up when it mattered. As a result, there are likely to be some serious changes in the offseason for the first time in the “Core Four” era. Meanwhile, Florida’s chase for a third consecutive appearance in the Stanley Cup Final is alive. They’re on dynasty watch.

Sure, the end was frustrating, and the top guys deserve some criticism. But have the Maple Leafs considered adding more stars to their lineup? At the trade deadline, the Panthers certainly did. The clubs spent similar capital to make two major moves apiece, with Toronto targeting depth and Florida eyeing star power. Had they swapped approaches, the series would have had a vastly different outcome. It should serve as a cautionary tale for the rest of the NHL.

Panthers Traded for Stars, While Maple Leafs Traded for Depth

These Atlantic Division rivals spent big at the trade deadline to get themselves ready for a deep playoff run. The Panthers, wanting to add more firepower to their lineup, went for the high-end names on the market. The Maple Leafs, on the other hand, tried to perfect their lineup by addressing their bottom six and adding physicality to their defense.

Cumulatively, Florida gave up a 2026 first-round pick, a conditional 2027 second-round pick, and netminder Spencer Knight to acquire forward Brad Marchand, defenseman Seth Jones, and a 2026 fourth-round pick. That’s a hefty price, but they got two fantastic players, making their lineup comically lethal.

As for Toronto, they had a different idea in mind, which has been their status quo for a while—”savvy” depth pieces. They sent a conditional 2026 first-round pick, a 2027 first-round pick, plus forward prospects Fraser Minten and Nikita Grebenkin away to receive forward Scott Laughton, defenseman Brandon Carlo, and a 2027 sixth-round pick (there was also a 2025 fourth-round pick involved that they acquired then subsequently flipped).

Depending on how you view Knight versus Minten and Grebenkin, these teams more or less gave up the same amount at the deadline. The Panthers got Marchand and Jones, while the Maple Leafs got tougher, in theory, with Laughton and Carlo.

Panthers vs. Maple Leafs Trade Deadline Decided the Series

The stars for the Maple Leafs could have done better after they built a commanding 2–0 series lead. That’s totally reasonable. However, the biggest decider of the victors in this one was the vastly different approach these teams had at the trade deadline. One team’s deadline moves put them over the top. As for the other, it wasn’t pretty.

Round 2 Stats, Even Strength	Panthers (Marchand, Jones)	Maple Leafs (Laughton, Carlo)
Goal Differential With	15 scored, 7 allowed (plus-8)	6 scored, 13 allowed (minus-7)
Goal Differential Without	7 scored, 8 allowed (minus-1)	9 scored, 9 allowed (even)

In the series, the Panthers decimated the Maple Leafs at even strength—they scored 59.46% of the goals (22 scored, 15 allowed). Interestingly, the Panthers had a goal differential of 19–10 when at least one of those four deadline additions was on the ice at even strength. Meaning, when none of them were, it was a 5–3 advantage for the Maple Leafs. This is a surface-level way of looking at things, but it’s evident that what these teams did in March had a huge impact on their series in May.

Scoring the overtime-winning goal in Game 3, Marchand had the most obvious effect on the outcome. But he was rolling all series long and was perhaps Florida’s best player. Both he and Jones were terrific in Game 7, teaming up for two goals and five points. Mind you, Laughton and Carlo combined for two points throughout the postseason.

Teams Should Start Adopting Panthers’ Style, Abandoning Maple Leafs’

The results of this series should stick with not only both teams, but also the rest of the league. Yes, the Tampa Bay Lightning’s deadline snag of bottom-six center Barclay Goodrow played a role in them winning back-to-back championships (2020, 2021). It was a move that was criticized by many at the time, as they gave up a first-round pick, but it worked. There have been a few similar trades since, though, and all of them have been inarguable failures: Nick Foligno, Ben Chiarot, and Tanner Jeannot. Are Laughton and Carlo up next?

The Marchand trade is the one that teams should specifically want to replicate: a conditional 2027 second-round pick (which will become a first-rounder if he appears in 50% of Florida’s playoff games) for a star rental. The sacrifice was well worth it, considering his playoff experience and modern-day impact.

To give another example of this type of trade, let’s visit the last team to do this: the Panthers last season. Adding Vladimir Tarasenko for two third-round picks, the former St. Louis Blues superstar and Cup champion had great 5-on-5 results (plus-5 goal differential) and scored nine points en route to Florida’s first-ever hoisting of Lord Stanley.

Tarasenko wasn’t as good as Marchand, but that’s why the trade returns were different. You’re looking for stars, but also value relative to how good they are. That way, making these types of deals can be sustainable, like it has been for the Panthers.

If you have the chance to add a star, and the cost isn’t crippling, you should. The Maple Leafs might be in the Eastern Conference Final had they followed this philosophy two months ago. For failing to adopt it, the consequences may be dire.

Stats courtesy of Natural Stat Trick