The rumour is that the Leafs are in talks with the blues. This is the trade as it stands atm.
Leafs
15th overall pick 2020 draft
Johnsson
Liljegren

Blues
Colton Parayko

Thoughts?

Sounds more like this is the proposal that Dubas sent to Armstrong, which was immediately dismissed and passed around the Blues front office for a good laugh. Meanwhile, Armstrong is keeping Dubas on the hook thinking there might be something there while Army devises his plan to clear space to sign Petro.
At least I hope to God that's the case. This would be the worst trade of Army's career.

This rumor came from Dean Blundell, a radio jockey who has no connection with the Leafs. This is the same person who has been censured by the CBSC multiple teams, including calling a female mayor fat and mocking the death of a young hockey player.

This rumor is probably born out of the likely plausibility that Toronto is shopping Lije and the 1st for a capable RHD. Dubas may have inquired about Parayko's availability, but I don't believe he's dumb enough to actually offer that.

Who is this “reliable source”?

dean blundell

lol

I highly doubt it. When you have a marketplace of 31 pissing off one of them while making yourself look like a jackass is probably not the way to go. It's more likely Dubas made an offer and the blues thought that the asset value was there but the pieces they want are different. That's how trades work. Dubas was hanging a lure to see if the blues would bite. The rumour tells me they probably bit and sent back a counter offer. Who's in that offer or what it looks like I don't know but chances are it's, "well we don't want player x (and player y even maybe) but how about this trade" which would be a similar value combination for Parayko. The purpose of the Leafs offer is to set the trade value they are willing to part with and who they want.

Unlike what people on here think Trades aren't, "Here's my offer" and "Go to hell" That's not how it works. It's a negotiation.

I realize that. It was a joke, dude. Just like this trade proposal. Lol. It doesn't come close to matching parayko's value which is why leafs fans are so giddy about it.
Parayko's key defensive metrics were the best in the entire league last year, even better than Slavin's. He's 6'6', can skate fast as hell, transitions as well as pretty much any other defenseman in the league, has a ridiculously long reach and a 105+ shot. He even received pretty strong conn smythe consideration due to his defensive play during the cup run. If he could get top PP minutes and more offensive zone starts, he could definitely be scoring 50+ points a season. At this point he's as good as Petro, in a slightly different way. Obviously other teams realize this, which is why every year everybody has such a hard-on about landing him in some steal of a deal that they think can happen. Armstrong isn't dumb, he knows what parayko is and what he's worth.
Personally, if we do resign Petro, I'd rather see parayko play his two years and walk than see him go for way less than he's worth. It might be different if we weren't contenders.

You can't sign Petro and keep him. Also, the flat cap affects trade value. Big contracts will be nearly impossible to move. Nobody has space and those that do will be selling it at a premium. Dubas knows this. That's why he's trying to make trades now that keep him in mobility with his cap room. That's why Kappy is traded. Teams are hoarding first-round picks this year like they make gold look worthless. The Leafs may have the only first available this year. That's not to say that the Blues will give Para away but they are going to have incentive to make a deal work. If the Blues keep Para I'm almost positive Petrangelo walks.

You make some good points, but the Blues really aren't that desperate. They have a clear replacement for the player they risk losing. Plus, parayko is only signed for 2 more years at $5.5. Far from a big contract given his value, so they don't have to concede to move him. if the Blues do go with Petro and move Parayko, the best move would probably be to find a quality player signed long term on a team looking to clear long term space for a rebuild/retool that would be willing to take some short term salary.
A more realistic trade scenario might be Parayko plus a salary dump player for Eckman-Larson, if arizona is willing to retain some salary for next year. Parayko is two years younger and pound for pound at least as valuable as Eckman-Larson. Given the age and contract disparity, he's definitely more valuable.

A move like that would free up space to resign Petro and would eliminate the problem of having two elite #1 RHD. Or they could keep up with the keith-seabrook dynamic until parayko decides to eventually walk.