Both accept

Oilers decline. Hagelin's contract isn't aging well and he's paid too much already. I'm also sure they won't want to be retaining on Larsson unless something substantial is coming back the other way.

Leafs accept.

I was a bit sketched out by the EDM trade, but I figured they needed wingers, and were shopping Larsson

what you said is true but Hags will make them harder to score against and thats a massive issue Oilers have

Jeez, is Larsson really that bad?

Larsson is not close to that bad, and will fetch more on the trade marker for sure. He is a solid RD on a $4.16 million cap hit, who probably shouldn't have been traded 1-1 for Taylor Hall, but who will be sought after if he is on the market, and certainly won't go for castoffs. If this were on the table Caps would make this trade 100 times in a row.

Separately, I am curious why this roster (and so many 20-21 Caps' rosters) have Orlov playing RD. The Caps clearly prefer him on the left -- that's why they need a RD in the first place. I would be very surprised if Orlov is asked to play on his off-hand all season. (I actually think Orlov is a likely piece to get traded, assuming BMac thinks Fehervary is ready for a regular NHL shift, particularly if he gets Dillon to stay.)