The reported trade by David Pagnotta that fell through was that Matthew Knies would go to Montreal for Alexander Zharovsky, another prospect, and two first-round picks.
Zharovsky was a recent second-round pick in the 2025 NHL draft, and he played fantastically for Ufa Salavat Yulayev, where, in 59 games, he put up 16 goals and 26 assists for 42 points.
The 6'2 winger has a very projectable frame, being listed at 176 pounds, with a likely add-weight in an NHL training room, and is considered a very high-level prospect.
Toronto turned down two firsts and Alexander Zharovsky, + prospect because Knies is worth more to them than the haul.
This is more than likely why the trade fell through. Toronto views Knies as a future core piece of this team, and it makes sense considering the McKenna era is coming next for Toronto.
If Toronto said no, it likely means that while Knies is an incredibly valuable trade chip, his future belongs in Toronto after the season he just had. The power forward had 23 goals and 43 assists this season for a career high 66 points in 79 games.
The thing that sets Knies apart from the rest of the current core of players is his age; as a 23-year-old turning 24, he is significantly younger than the rest of the core group of players on this team, likely aligning a significant portion of his timeline with that of McKenna's.
Knies also provides a unique skill set compared to the rest of the team. All of the forwards are more speed than brute force, but Knies has an amazing combination of the two. Standing at 6'3, 232 pounds, he is the power forward that lots of teams try to get in today's game.
He has been incredibly durable throughout the season, despite facing an injury last season, he finished with 79 games total and played over 75 games each of the last three seasons.
Not to mention the best part of all, Knies is signed to a 6-year deal at a really fantastic cap hit of 7.75 million AAV, with him hitting free agency in 2032. That long-term security and a deal in two years will look like an absolute bargain.
Not to mention, he does not have a no-move clause, meaning the Maple Leafs can trade Knies to whichever team they want to, which would be more likely to happen if they managed to own their first-round picks.
Lastly, the rivalry between the Maple Leafs and Habs means trading in-division is incredibly risky, and considering the Leafs want to be competitive, having Knies out of the division is the least they could do for themselves.
The Deal fell apart over complications that were never specified, and the rivalry may be the biggest clue
As I had alluded to previously, an in-division trade is incredibly difficult, but trading a star player who should be a core member of this team for the foreseeable future does not bode well with a fanbase that has been clamouring for anything to hold onto hope with.
Now, Pagnotta, at his word, said, "There were some complications ahead of the deadline; it did not get through. And they were presumably going to revisit it this offseason; however, this was under a previous Leafs regime in Brad Treliving." And while we can speculate, we don't know for sure why it exactly fell through.
However, one report that contradicts this one is that Elliotte Friedman said that "No deal ever got close." So who really knows what happened?
But one thing is for certain: there has been an ongoing rivalry between the Leafs and the Canadiens. When Treliving was in the front office, it did not bode well for his job security, considering the Optics of trading a star player within the division to your biggest rival.
Where would you rather trade Matthew Knies to
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