The 2026 Winter Olympics in Milan-Cortina are officially in the books, and for the Toronto Maple Leafs, the tournament provided a surreal split-screen reality. While captain Auston Matthews was busy ending a 46-year gold medal drought for Team USA, the club he left behind in Toronto continued to slide down the Atlantic Division standings.
Now, as the NHL roster freeze lifts today, Feb. 23, the focus shifts from international glory to domestic survival. With the March 6 Trade Deadline just twelve days away, General Manager Brad Treliving is under immense pressure to decide if this group is worth a “retool” or if a more aggressive “rebuild” is the only logical path forward.
Matthews’ Golden Moment vs. Toronto’s Reality
There is no denying that Matthews has cemented his legacy. By leading the Americans to gold over Canada, he silenced critics who questioned his ability to perform in high-stakes elimination games. However, the “Milan Hangover” is real.
Matthews returns to a locker room that is reeling, and the scrutiny won’t let up. The question now is whether his golden momentum can spark a miracle run in Toronto, or if his individual success will only highlight the team’s collective failure this season.
Rielly’s Future With the Club
The most significant storyline heading into the deadline involves Morgan Rielly. As the longest-tenured player on the roster, Rielly has always been the heartbeat of the team, but the business of hockey is starting to catch up. Sources, including David Pagnotta, suggest the Leafs have already had “loose” conversations with Rielly about his full no-move clause (NMC).
Related: NHL Trade Bait List for 2026 Trade Deadline
With Rielly struggling defensively and losing his power-play role, the team is at a crossroads. If he’s willing to waive his NMC for a fresh start—perhaps in Vancouver or San Jose—it would free up the $7.5 million in cap space Treliving desperately needs to find a true number-one defenseman.
Health Updates: Tanev and Joshua
For the Leafs to have any chance of making noise in the final stretch, they need their veteran stabilizers.
- Chris Tanev: Still a massive question mark. His groin injury has kept him out of the lineup for the better part of the season, and while he is skating, a definitive return date remains elusive.
- Dakota Joshua: There is light at the end of the tunnel here. Joshua is targeting a return during this week’s Florida trip after recovering from a kidney laceration. His physical, north-south game is exactly what the Leafs’ bottom-six has been missing.
Trade Deadline: Sellers for the First Time?
With the Leafs currently 13th in the Eastern Conference, the “seller” tag is becoming impossible to ignore. Beyond Rielly, the name gaining the most traction is Bobby McMann. Having a career year while making just $1.35 million makes him an incredibly attractive asset for contenders like the Edmonton Oilers. If the Leafs can’t string together wins immediately following the break, expect Treliving to move pieces like McMann and potentially even a goaltender to restock the organization’s draft capital.
Maple Leafs Schedule: Feb. 23 – March 1
The upcoming week is a gauntlet that will likely determine the franchise’s direction for the next three years.
| Date | Time (EST) | Opponent | Venue | Notes |
| Wed, Feb. 25 | 7:30 PM | at Tampa Bay Lightning | Amalie Arena | First game after Olympic break. |
| Thu, Feb. 26 | 7:00 PM | at Florida Panthers | Amerant Bank Arena | Back-to-back against divisional heavyweights. |
| Sat, Feb. 28 | 7:00 PM | vs. Ottawa Senators | Scotiabank Arena | “Battle of Ontario” could be the final straw. |
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