The 30-year-old forward has a $2.75 million cap hit in this, the final year of his current contract. He was a huge part of Vegas' 2023 cup run, but a 51-point season in 2023-24 was a step down compared to past years.
Whether or not Stephenson's down year was just a blip on the radar, or the beginning of a downwards trend remains to be seen, and that could keep his next cap hit from being too expensive.
The opportunity is there for the Maple Leafs to potentially swoop in and claim an underrated asset. Stephenson, a Stanley Cup champion, would not only provide the Leafs with a player with a winning pedigree, but also someone who can step into a 2nd line center role right away and push veteran John Tavares over to the wing as he begins to slow down with age.