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In: First-round pick in 2027, second-round pick in 2027, third-round pick in 2026, fourth-round pick in 2026, fifth-round pick in 2026
Out: Nicolas Roy, Bobby McMann, Scott Laughton
Grade: C+

The Leafs did OK — just OK — in the end.

GM Brad Treliving did as well as he possibly could in flipping Roy for a first-round pick from the Avalanche. Roy hadn’t exactly been a home-run addition. The Leafs struggled to control the puck (44 percent expected goals) or generate offence (20 points) in his minutes. He scored only five goals. More than that, he never did become a go-to guy in big defensive spots for coach Craig Berube. The Leafs coach always seemed lukewarm on Roy.

The 29-year-old was signed for next season, though, which means the Leafs now have a hole at third-line centre heading into the offseason as well as one on the fourth line with Laughton moving elsewhere, as well. That’s OK. The Leafs were going to need to upgrade at centre whether Roy and Laughton returned or not.

Treliving ended up moving two of the three players the team sat before the deadline in McMann and Laughton. Moving off McMann, in the midst of a career season (including career-best 15 percent shooting) as he heads into unrestricted free agency, for a second and a fourth is fine. Not bad. Not great. Somewhere in the middle. A first-round pick always felt like a stretch for McMann, even with the results he was producing this season. He was notably held without a goal last spring in his first NHL postseason and doesn’t have a long track record of consistent success in the league.

He could be in line for a monster contract this summer.

It feels more disappointing for the Leafs to end up with only a conditional third-round pick for Laughton a year, almost to the day, after giving up a 2027 first-rounder, along with prospect Nikita Grebenkin, to acquire him in the first place. The context is important of course: The Leafs were getting Laughton for an additional season at half price ($1.5 million cap hit). The Kings are buying him as a rental. Regardless, this deal highlights what an overpay that initial trade was — ultimately a big mistake with ramifications still to be determined. The pick the Leafs gave up for Laughton is top-10 protected and could become unprotected in 2028.

The present-day return for Laughton points to what he ultimately became for the Leafs: A fourth-line centre, scrappy penalty killer and likeable personality in the dressing room. Players like that don’t typically draw first-round picks.

If the Kings make the playoffs, the pick will end up in the second round. Los Angeles has a 52 percent chance of making it to the postseason at the moment.

It does feel a touch strange that the Leafs chose to hold onto Oliver Ekman-Larsson after sitting him out against the Devils and Rangers before the deadline. Trading the 34-year-old felt more like a possibility than sure thing, dependent on whether a rival team would bowl the Leafs over with an offer they couldn’t refuse. Either that offer didn’t arrive or didn’t meet the team’s ask.

With that said, Ekman-Larsson probably won’t ever have another season like the one he’s putting together this year. He’ll be 35 in July and still has two more seasons left on his contract. The Leafs had a chance to sell him at his maximum value and didn’t. That could backfire, though it’s still possible he’s moved in the offseason or even ahead of next year’s deadline.

Someone is going to have to go if the Leafs want to upgrade this bunch and, crucially, make it younger.

Seven defenders are under contract next season: Ekman-Larsson, Morgan Rielly, Chris Tanev, Jake McCabe, Brandon Carlo, Simon Benoit and Philippe Myers.

What it means for the Leafs lineup

We’ve already seen what this means for the Leafs lineup, with the way they suited up against the Devils and Rangers.

One benefit of the moves: Berube will be (almost) forced to play Easton Cowan real minutes in the top six. Cowan played around 17 minutes in each of the two games the Leafs played without McMann and Laughton. He recorded points — a goal and an assist — in both games. He had been inexplicably scratched before that. His continued development is essential down the stretch. Playing him with the team’s best forwards is part of that development.

The Leafs will also get a longer look at Jacob Quillan in all likelihood down the stretch. Quillan took over fourth-line centre duties for Laughton against the Rangers. It was only his sixth NHL game.

Ekman-Larsson will rejoin the mix on the blue line, presumably against the Lightning on Saturday. Whether that bumps Myers or Troy Stecher  from the lineup remains to be seen. Stecher was on track to be scratched for a second game in a row until the Leafs decided to sit Ekman-Larsson against the Devils.