Don’t Expect Maple Leafs to Reopen Knies-to-Canadiens Trade Talks

The failed Matthew Knies trade, which exploded onto the NHL news scene late Thursday night, is no longer an option. At least, not according to NHL insider Elliotte Friedman, who confirmed the report of the trade on his latest 32 Thoughts podcast, but says the Maple Leafs won’t be interested in the same deal under new management.

The Specifics of the Knies Trade to the Canadiens

According to David Pagnotta of The Fourth Period, the Canadiens and Maple Leafs had a deal that was consummated late at the 2025-26 NHL trade deadline but fell through in the final moments. The 3 p.m. ET cutoff was missed, with Friemdan reporting it was submitted at 3:01, to be more precise.

The deal included highly touted prospect Alexander Zharovsky, another top prospect, and two first-round draft picks going to Toronto in exchange for Knies. Sources confirmed that the second prospect involved was neither Michael Hage nor David Reinbacher.

It was a rumored blockbuster that now appears to be confirmed, and co-host Kyle Bukauskas asked Friedman whether this was a trade the Canadiens and Maple Leafs might circle back to. Before he could finish the question, Friedman said, “No.”

Why Is This Deal No Longer Available?

The GM who made the trade was Brad Treliving. He’s no longer running the Toronto Maple Leafs. Now, John Chayka is the new general manager, and Mats Sundin is working closely with him to ensure the team is built to be competitive and to usher in a winning culture. If that’s the mandate, it’s not surprising to hear they aren’t interested in trading Knies.

Not only is he a productive power forward in the NHL, but he’s a doer. This is a player who puts his head down, ignores the drama in Toronto, and goes to work. He wants to be a Maple Leaf. He took a discount to stay. He’s never once wavered on that, despite all the late-season chatter and summer talk about changes.

Maybe It’s Not About Knies, But the Return?

The reality is that we don’t know whether the Maple Leafs are completely closed off to the idea of trading Knies. For all anyone knows, it is this particular trade that Toronto has walked away from.

The return (four pieces) was significant. That said, because Reinbacher and/or Hage were not a part of it, it might be a dealbreaker for Leafs management now. Maybe Chayka and Sundin will entertain the conversation, but no one should be shocked if the pieces have to change.

Treliving might have felt the need to do something drastic. That pressure, for the most part, is now gone with him out and a new team in place that has more time to weigh its decisions carefully. That Knies deal reportedly popped up at the last minute, suggesting quick decisions were required all around. If Treliving was about to make a trade that wasn’t ideal for the Maple Leafs, don’t expect that organization to make it now.

Maple Leafs Aren’t Jumping Back Into a Hasty Trade

If Toronto determines that a rebuild is not in order, this is not the trade you make.

It might have been Toronto’s fault (or mistake) that the trade never happened. It’s been reported they were the ones who got the trade submitted to the NHL past the deadline. If Chayka and Sundin see this as a blessing, they aren’t going to be prone to jumping back into conversations and picking up where previous ones left off.