Who says no

Toronto

Willy has been a monster so far

6 goals and assists in 8 games

FLA 1st will be low
Hanafin is good but not what they need
And we got a Mangiapane in Bertuzzi

Like lets be honest anyone wants Willy they are gonna really have to overpay just for him no Liligren included even if he is a UFA.

I wouldn't rule out this trade from the Toronto perspective, but I think a few things would need to happen:

1) Leafs give up on Liljegren (recuperating a late 1st for him would be good)
2) Treliving is hopeless that he can sign Nylander for whatever amount they want
3) Treliving sees Hanifin as a fit on the blueline (if he can re-sign him it would be a good consolation prize).
4) Mangiapane keeps up ~30G pace. So, the return for Nylander would be Mangiapane+ 1-year of Hanifin (most important factor after 6).
5) 50% retention on Hanifin (or whatever makes it net 0 cap change for the Leafs). It could be the Leafs paying a 3rd team to retain.
6) Treliving thinks that these moves give the Leafs a better chance at the Cup this year (the most important factor).

From the Flames perspective, they reject this trade unless:

1) They are above .500
2) They re-sign Lindholm
3) Talks with Hanifin breakdown and the trade market for him is weak
4) The Flames need to know the ballpark of the cost to extend Nylander prior to trade. Likely means the Flames need to be willing to pay Nylander 10.5Mx8.

Assuming Liljegren costs like 3.5M to re-sign, would be a combined 14M vs 12.5-13M (maybe up to 13.3M) that Hanifin (6.7-7.5M)+ Mangiapane (5.8M) would take. Maybe if it was Timmins instead of Liljegren it would make a bit more sense for both sides.

Edit: Seems to work even with Liljegren but I would say that in terms of roles, an offensive guy like Timmins getting sent back to the Flames might make more sense than Liljegren. The Flames would also have a good chance at retaining Zadorov who would be their biggest loss.

Flames 2024-25
Leafs 2024-25

On paper, the trade looks like it could be mutually beneficial in the long-term but I doubt it works out that way in practicality if it were to happen. If I had to guess, the Leafs would be worse off, and the Flames might be a solid team for a few years, but those big contracts will catch up to them, and I don't think they would win a cup or even come close even if they start having regular season dominance.

It's a bad trade for TO and a terrific one for Calgary.

Torontos never does this

Yall Toronto fans are so over dramatic... your defense sucks and you need help. If you weren't stuck behind that awful Tavares contract your defense could be better.