Insider: Maple Leafs’ trade return from Oilers for Oliver Ekman-Larsson

The name Toronto Maple Leafs has been floating around the rumor mill quite a bit this season. And with that comes a lot of trade speculation surrounding their players. The latter concerns Oliver Ekman-Larsson, who is associated with the Edmonton Oilers.

Ekman-Larsson, 34, is in the middle of a recovery season. After struggling to find his feet following an acquisition from the Vancouver Canucks, he has responded in a big way. Through 57 games, he has eight goals and 26 assists for 34 points. At his age, and considering how things looked not too long ago, that’s impressive. This has made him one of the bigger names on the market.

What might a deal for him actually look like?

Recently, NHL insider David Pagnotta revealed on a podcast what the Maple Leafs could ask for if they decide to move Ekman-Larsson. Pagnotta has become somewhat of a fan favorite among Leafs Nation lately, especially after ditching the idea that it was just a Andreas Mangiapane and a choice.

Instead he said it would start with Isaac Howard. This is what Pagnotta had to say:

“The Leafs aren’t trading him for Mangiapane and a pick. So sorry, that’s not going to happen. You’re probably looking at something like Isaac Howard in a deal to get OEL from Toronto. It’ll be a high price. Because it’s a combination of his cap hit, the remaining term and the fact that he’s really good — or at least has been really good this season. If it does come to that, expect it to be a bigger kind of deal. You’re not just mortgaging Mangiapane to Toronto because the children come from there.’

Based on that, you’d have to think the Oilers might falter. But if they were willing to pay the price, the framework of a deal could look like this.

Maple Leafs receive: Isaac Howard, Andrew Mangiapane, 2026 second-round pick, 2027 fifth-round pick (BOS)
Oil companies receive: Oliver Ekman-Larsson (50 percent retained)

Like Pagnotta said, it won’t be all Mangiapane and a choice. If this deal gets done, Mangiapane will likely have to be involved to make the money work. The real focal point, however, would be Howard. The draft pick is the sweetener, and the fifth-rounder would be tied to Toronto while retaining 50 percent of Ekman-Larsson’s cap hit.

With that retention, his cap hit drops to $1.75 million, making it much easier for Edmonton to slot him in while still looking at other moves. It’s also important to remember that Ekman-Larsson has another year under contract. It is not just a rental property, which of course drives the asking price up.

Some fans will look at this and say it’s an overpayment because Howard is involved. But if you take him out, the conversation changes and people say the Oilers robbed the Maple Leafs. The reality is that Toronto doesn’t need to move Ekman-Larsson. With his contract still running, they can afford to keep it.

If Edmonton really wants him, they’ll have to pay. And according to Pagnotta, that price starts with Howard.

Next: Insider: Maple Leafs’ trade return from Oilers for Bobby McMann