The list evaluates the efficiency of all current player contracts and determines which organizations are spending their future money most effectively.
With the dust settled from the chaos of NHL free agency and players establishing themselves with their new organizations, Dom Luszczyszyn of The Athletic has published the annual contract efficiency rankings.
Two weeks ago, Luszczyszyn wrote an article grading the NHL’s most improved teams, placing the Toronto Maple Leafs in the 8th spot despite minimal moves. Still, the argument was that the Leafs “Look better, and that closes the gap between them and the league’s best considerably."
Fast forward to July 25, and the Leafs have significantly improved from last season's 14th place, now ranking 8th among the 32 NHL clubs on the list that evaluates the efficiency of all their current player contracts and determines which organizations are spending their future money most effectively.
Let’s break this down, shall we?
Starting with the forward group, the best contract grade belongs to the team’s number one option, Auston Matthews. His four-year, $53.2 million contract kicks in this fall, earning an ‘A+’ grade for his MVP-caliber play over the past several seasons. His deal commands only 15 percent of the salary cap – an extremely efficient arrangement for a player with all the bells and whistles as a top forward in the NHL.
The second highest grading goes to Bobby McMann, who signed a two-year extension worth $2.7 million and carries an average annual value of $1.35 million per season. The value here is significant. Coming off a career year that saw the forward score 15 goals and add nine assists for 24 points in 56 games, McMann is an extremely hard worker and can be slotted anywhere in the lineup while being dependable.
The remainder of the forward list is as follows (with grading and contract).
3. Mitch Marner (B-, $10.9m x 1)
4. Pontus Holmberg (B-, $800,000 x 1)
5. Calle Jarnkrok (C+, $2.1m x 2)
6. Ryan Reaves (C+, $1.4m x 2)
7. Max Domi (C, $3.8m x 4)
8. John Tavares (C, $11m x 1)
9. David Kampf (C-, $2.5m x 3)
10. William Nylander (D, $11.5m x 8)
The two most notable are David Kampf and William Nylander, who rank the two worst contracts on the entire roster, let alone the forward group. Kampf, entering the second year of a four-year, $9.6 million contract signed in the summer of 2023, primarily centers the fourth line and makes $2.4 million per season. With prospects waiting in the wings at a lower cost, his price and term are burdensome for a team tight against the cap.
Nylander, who as Luszczyszyn mentions, started the year “As an $8.5 million player, peaked at an $11.5 million valuation and then settled in at $10 million,” was signed at peak value, which could become a difficult deal to manage down the line. Despite career highs in goals (40), assists (58), and points (98), his consistency remains a concern. Over the past few years, the Swede has trajected upwards, but whether that stays persistent remains to be seen.
Defensively, the Leafs added Chris Tanev, Oliver Ekman-Larsson, and Jani Hakanpaa (still to be confirmed) and re-signed Timothy Liljegren. Though the route to bring back Liljegren was uncertain at times, the club opted to sign him to a two-year, $6 million contract, ranking the highest on the defense list with a contract grade of ‘B+’. The likes of Hakanpaa (C+, $1.5 x 2), Tanev (C, $4.5 x 6), and Ekman-Larsson (C, $3.5 x 4), rank the lowest of the group.
All for fairly obvious reasons.
Hakanpaa’s concerns stem from his health and given the skepticism around his availability to play to the value of his contract – if it comes to fruition.
Tanev, 34, and Ekman-Larsson, 33, are said to be on the ‘back-nine’ of their careers, but at the current time, fit the Leafs’ needs. However, the six and four-year terms are questionable, though general manager Brad Treliving emphasized that sometimes “To get the player you want, you have to be disciplined in the marketplace.” Sometimes a long-term deal is the necessary term to draw the player away from other options.
The defense list is as follows (with grading and contract).
1. Timothy Liljegren (B+, $3m x 2)
2. Jake McCabe (B+, $2m x 1)
3. Conor Timmins (B-, $1.1m x 1)
4. Morgan Rielly (B-, $7.5m x 6)
5. Simon Benoit (C+, $1.4m x 3)
6. Jani Hakanpaa (C+, $1.5m x 2)
7. Chris Tanev (C, $4.5 x 6)
8. Oliver Ekman-Larsson (C, $3.5 x 4)
Perhaps the most eye-opening part of this list is the goaltending tandem of Joseph Woll and Anthony Stolarz. As it stands, the Leafs currently have the second cheapest tandem behind only the Washington Capitals, who have Charlie Lindgren and Logan Thompson making a combined $1.86 million. Woll/Stolarz is making $3.26 million, a close second in 2024-25.
As mentioned by Luszczyszyn, this aspect of their roster elevates them to the number eight spot. For starters, the club brought in Stolarz on a two-year, $5 million deal, which earned the contract a ‘B’ grade. Stolarz is a viable ‘1b’ option for the Leafs if he can remain healthy and stable in the crease. In the 2023-24 season, he appeared in 27 regular season games posting a record of 16-7-2, with a 2.03 goals against average and a .925 save percentage.
The former second-round pick was acquired on the cheaper end but was widely considered as one of the more dependable backups last season. If he finds another gear in a Leafs uniform, that will only benefit a team that has lacked goaltender depth in the past.
Besides, despite playing in just 109 NHL games since the 2016-17 season, splitting his NHL career between the Philadelphia Flyers, Edmonton Oilers, Anaheim Ducks, and Panthers, Stolarz believes in his abilities, stating in his opening press conference with the media, “I know that I'm one of the best in the world, and I'm looking forward to the opportunity.”
The biggest question mark has been Woll, whose ceiling for games played in a season is 25. Woll has been riddled with injuries over the past three seasons to his shoulder, ankle, and back. Though it raises some concerns, the league has seen what he’s capable of at full strength – including the Leafs, who signed him to a three-year, $10.98 million contract extension this summer that kicks in 2025-26.
His current contract, which sees the netminder earn $767,000 in 2024-25 as his final year of a three-year, $2.3 million contract is the highest graded ranking (tied with Matthews) on the list with an ‘A+’ (the list includes the average of what Woll is committed to over two contracts, hence the $2.9m x 4 number). His new deal, which sees him bring in $3.66 million annually starting in 2025-26, is a bet that will pay off tremendous dividends if it pans out the way the club envisions it will.
The former third-round pick posted a 12-11-1 record with a .907 save percentage and 2.94 goals against average in the 2023-24 campaign.
There is an obvious risk, but together, there is plenty of upside with a Woll/Stolarz tandem going forward.
If play goes south, Luszczyszyn notes that the club’s cap picture moves into the essence of “average” when balancing out the remainder of the roster. Regardless, the team has two goalies with evident potential locked up for more than a lone season for the first time in a handful of years. Overall, the Leafs' contract decisions and cap maneuvers have positioned them as one of the top eight teams on the list in the NHL regarding contract efficiency.
