Maple Leafs sign key defenseman to five-year extension

The Maple Leafs have signed defenseman Jake McCabe to a five-year extension, the team announced on Monday. It keeps the blue liner off next summer’s UFA market and makes him cost $4.51M against the salary cap through the 2029-30 campaign. Elliotte Friedman of Sportsnet reports the total value of the deal is higher than the cap hit indicates due to deferred money in the 2026-27 and 2027-28 campaigns. McCabe’s agency, Bartlett Hockey, confirms the total value of the contract is $23.5M, equating to an AAV of $4.7M.

It’s hardly unexpected news. Friedman reported at the beginning of September that McCabe and the Leafs had begun extension talks, which McCabe confirmed at the beginning of training camp. Sportsnet’s Nick Kypreos added shortly before the regular season started that the two sides were close to a deal, although the final contract is shorter than the six-year, $30M pact he predicted.

For the past couple of years, Toronto has benefitted from McCabe’s services at a bargain-bin price. He signed a four-year, $16M contract ($4M AAV) with the Blackhawks in free agency in 2021, but with the team squarely in a rebuild, they traded him and depth forward Sam Lafferty to the Leafs before the 2023 trade deadline. Chicago retained half of McCabe’s salary in the deal, meaning he’s cost only $2M against Toronto’s cap.

Even his full $4M cap hit would have likely been below market value for McCabe, who’s averaged north of 20 minutes per game in a Maple Leafs sweater. Last season was the 31-year-old’s best as he posted a career-high 28 points (8 G, 20 A) in 73 games and a +20 rating.

His possession metrics back up those numbers, painting the picture of an extremely valuable two-way, top-four defender. McCabe’s usage trended toward the defensive zone at even strength, but even still, the Leafs controlled 50.6 percent of shot attempts with him on the ice last season and 51.6 percent of expected goals. He was also one of their most physically involved players, finishing third on the team in blocks (129) and second in hits (219).

McCabe is off to a similar start this season. He’s averaging 21:09 per game, which is on pace for a career-high while adding three assists and a +6 rating in nine appearances. He has 17 blocks and 19 hits, ranking second on the team in each category, and the Leafs are controlling 55.4 percent of shot attempts and 54.7 percent of expected goals at even strength with him on the ice.

He’ll never be a significant factor on the scoresheet, but he’s not an offensive liability. He can be deployed in power-play situations if necessary and is good in transition. Having him under contract through his age-36 season could be dicey, but for now, just north of $4.5M is an extremely affordable cap hit for what his all-around game provides.

The Maple Leafs now have $66.23M in cap space tied up in 15 players for next season. Assuming a projected cap increase to $92.5M, that gives them roughly $26.27M in space to fill eight roster spots, including new deals for UFA forwards Mitch Marner and John Tavares and RFA Matthew Knies.