The Toronto Maple Leafs have traded enforcer Ryan Reaves to the San Jose Sharks in exchange for young defenseman Henry Thrun. This move not only sheds Reaves' $1.35 million cap hit but also provides the Leafs with an additional $5.3 million in cap space as they pursue a top-six forward. Thrun, a 24-year-old left-handed shooter, has seen action in 119 NHL games, scoring 25 points, and will bring a fresh perspective to the Leafs' defensive lineup. Reaves, who has expressed a desire to play until he reaches 1,000 games, averaged just two assists over 35 games last season and was demoted to the minors for the first time in a decade, marking a significant shift in his career.

The Sharks, now sitting at $71.9 million with Reaves aboard, are close to the salary cap floor of $70.6 million. This transaction also hints at potential further moves by the Leafs, who are eyeing additional trades involving veterans like David Kämpf and Calle Järnkrok. With a solid roster of forwards and defensemen already under contract, GM Brad Treliving has a clearer path to make strategic additions as they navigate upcoming arbitration hearings and free agency, including the potential re-signing of Max Pacioretty.