The Leafs shelled out ~$33M in signing bonuses on Friday, which could make two of their players easier to move

Two of the players who received bonuses today, coincidentally, are two players who a lot of people have been including in their Armchair GM rosters on CapFriendly; Alexander Kerfoot and Jake Muzzin. With the Leafs needing to clear some cap space this summer to address a myriad of needs, having a pair of players who are cheaper than their actual cap hit would be enticing for teams who are looking to reach the salary cap floor without actually breaking the bank.

Alex Kerfoot is entering the final year of a 4-year contract worth $14 million dollars total ($3.5 million AAV). Last season, the 27-year-old had a career year in point production, finishing with 51 points (13 goals & 38 assists), playing much of the year on the left wing of William Nylander and captain John Tavares. With his signing bonus paid off today, the versatile forward is only owed $750,000 in real dollars, but will still count as $3.5 million towards the salary cap. Given the production Kerfoot brings, any team who budgets to operate below the salary cap could see value in Kerfoot, especially considering they would only have to pay him a league minimum in actual salary.

This might be the perfect time for the Leafs to move a guy like Kerfoot. The team could allocate his cap dollars elsewhere (perhaps to defense or goaltending) and obtain some additional draft capital to use in the upcoming draft. If Kerfoot has another productive season, it is likely he prices himself out of Toronto much the way it appears Ilya Mikheyev is set to this off-season. Moving him now is the best way to manage the asset.

It is worth noting that Alex Kerfoot has a modified no-trade clause in his contract, in which the player submits a ten-team no trade list. This could throw a wrench in any plans the team has of trading him. However, we have seen GM Kyle Dubas navigate tougher waters than moving a player with a ten-team no trade list.

As for Jake Muzzin, the matter may not be as simple. The 33-year-old defensemen still has two seasons remaining on his contract and is owed $6 Million total ($2 Million in salary this year and next, plus a $2 Million signing bonus next season). His cap hit is $5.625 Million for the next two seasons. Muzzin still has a full no-trade clause in his contract until the end of the 2022-23 season, at which time he will submit a ten team no-trade list. And while many feel it might be a good time to move on from the aging left shot defensemen to allow better opportunities for a Rasmus Sandin, the Leafs may have to wait another season until it is more practical.

Some other Leafs who are celebrating Canada Day in style due to large signing bonuses are captain John Tavares ($7.4 Million), Auston Matthews ($7.2 Million), Mitch Marner ($7.5 Million), William Nylander ($3.5 Million) and Morgan Rielly ($4 Million).