As the Toronto Maple Leafs navigate the back half of their offseason, a few things have become clear. First, they still have roster holes to fill. Second, they may be betting on internal growth just as much as outside additions. And third, not every veteran on the roster should be viewed as expendable.
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Today’s update covers a little bit of everything—one player trying to hold onto a key role, another looking to carve out a new one, and a potential signing that could shake up the bottom six. Here are three key storylines to watch as the team continues to shape its 2025–26 roster.
Item One: Don’t Write Off Morgan Rielly Just Yet
One of the Maple Leafs’ most significant issues last season was generating offence from the blue line. Toronto’s defencemen finished near the bottom of the league in point production, a sharp drop that coincided with a noticeable decline in Morgan Rielly’s numbers. The reasons were layered—less power play time, a possible misfit with Craig Berube’s system, and even perhaps the inevitable slowing down that comes with age, especially for a player whose game has relied on speed and puck-carrying.
Still, the blueprint for success is clear: Berube’s St. Louis Blues Stanley Cup-winning team featured multiple defence pairings that could drive offence. Toronto needs that same dynamic again—and Rielly could still be part of it. One thing the Maple Leafs have is a group of players able and willing to put their bodies in harm’s way in front of the goalie on the power play unit (think John Tavares and Matthew Knies). Now they need someone to get the puck through the traffic and on the net.
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There’s a growing narrative that Rielly should be on the way out or that his contract ($7.5 million average annual value) is too big to justify. But moving on too quickly would be a mistake. His deal, while not cheap, compares favourably to many of the big-ticket names being floated in trade rumours. And even if the team explores right-shot options or heavier point shots from the blue line, that doesn’t mean Rielly has no place. It just means he might need to fight for a more defined role under Berube—a role he’s earned in the past and, if given the proper support, should be able to grab again. Toronto might benefit most not by discarding Rielly, but by building a backend where his skills complement a deeper, more balanced defence corps.
Item Two: Henry Thrun Embraces Fresh Start in Toronto
Traded to the Maple Leafs in exchange for Ryan Reaves, 24-year-old defenceman Henry Thrun was in the middle of watching Top Gun when his phone rang with the news. Whether it was the original or Top Gun: Maverick remains a mystery, but the surprise was genuine.
“When [Mike Grier] told me where I was traded, it was a nice way for that phone call to wrap up,” Thrun said. “Just knowing the history and the success the team has had… it was pretty exciting.” After a challenging rookie year in San Jose that saw him post a 38.7% expected goals share and a minus-23 rating, Thrun is looking forward to a new opportunity—and hopefully, a more balanced defensive environment. But we’ve seen other blueliners come with equally poor numbers, only to find a home on the team’s rear guard.
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Though he enters training camp behind Simon Benoit on the depth chart (another Thrun-like blueliner), the 24-year-old former Shark is betting that his puck-moving game—his calling card in junior and college—can earn him a spot. “At times [in San Jose], it’s a little challenging to be put in positions to move the puck… there’s a lot that I feel I want to show and improve,” he explained.
Known for his versatility and reliability in all zones, Thrun is aiming to carve out a third-pair or utility role in Toronto. He’ll have to prove himself quickly, but he arrives with some experience and the motivation of a former Boston Bruins fan (he loved Zdeno Chara) who knows he’s now wearing the jersey of a bitter rival.
Item Three: Are More Moves Coming? Leafs Linked to Jack Roslovic
According to Sportsnet’s Luke Fox, the Maple Leafs aren’t done yet. With a 22-man roster and roughly $6 million in projected cap space—excluding unsigned restricted free agent (RFA) Nicholas Robertson and prospect Easton Cowan—there’s still room to manoeuvre. One name that continues to surface is Jack Roslovic. The 27-year-old forward offers some offensive upside but has long been criticized for his defensive play. Still, the potential cap hit to bring him in (around $2.6 to $2.85 million) would make him a relatively low-risk depth addition, especially if Toronto feels the need to bolster scoring after losing Mitch Marner.
To make space, the Maple Leafs could explore moving a contract like David Kämpf’s ($2.4 million) or Calle Järnkrok’s ($2.1 million), which would open more financial flexibility. There’s also a strategic option to build up salary cap space during the season, similar to the Florida Panthers’ approach last season, which allowed them to add high-impact players like Seth Jones and Brad Marchand near the deadline. For the Maple Leafs, having that cushion could be critical in a season where they’ll likely need to get creative to replace Marner’s contributions across the lineup.
What’s Next for the Maple Leafs?
With development camp now behind them and free agency largely settled, the Maple Leafs’ attention shifts toward training camp decisions and late-summer roster tweaks. Whether it’s bringing in a player like Roslovic, giving someone like Thrun a long look, or doubling down on veterans like Rielly, Toronto has options—but not much room for error.
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As always, how they manage their cap space, internal competition, and lineup structure will reveal a great deal about their seriousness about contending this season.
