Quoting: palhal
Yes, the Leafs shed cap but they lose on the ice. Faska...two years of NHL control for Kapanen who is 2.5 year younger and five years of NHL. control. Think the Leafs lose on the ice immediately.
Zaitsev for Honda. Honda hasn't proved he an NHLer. So the Leafs lose a top 4 Dman and have no replacement, though they would save cap immediately.
Leafs have lost to UFA, Gardiner, Hainsey, Dermot is injured. Don't think they can just give up Zaitsev for nothing despite the cap saving.
In terms of top-6, the Leafs would still have Matthews, Marner, Tavares, Hyman, Johnsson, and Nylander. Picking up Radek Faksa is going to be cheaper than a Kapanen contract, and allows him to slot into Kadri's role, if Toronto can find a suitor to take his contract.
Honka, though he hasn't had the time in the NHL, during his time with Dallas, his possession numbers are among the best on the team. He's a very strong puck mover. He's not great on defense, but he's a solid, possession driving defenseman. He's an extremely cheap 3RD for Toronto.
Given Toronto's Cap situation, I don't see them getting a much better offer. They really don't hold the cards in most trade talks, due to their salary cap desperation.