Ottawa declines.

Can't imagine Arizona would want the overpaid Connelly.
Gee if you want Reilly and wan tto rid yourself of De Hann, maybe a DeHann, Strome and the 2nd and 3rd for Reilly might have legs.

Sens decline - there's no need for more defenceman in Ottawa, especially overpaid ones.

Leafs decline - Rielly has significantly more value than that. The comparables are out there now:
Seth Jones return - on the high end (with an extension as part of deal)
OR
Rasmus Ristolainen return - on the low end (with no extension)
This deal isn't either. You'd be looking at a 1st round pick minimum. Leafs don't need right handed wingers so Nylander isn't enticing at all in that kind of deal. Strome would be a maybe (if Toronto intends to move Tavares to the wing) but you're still looking at Strome + 1st + mid round pick for Rielly as a rental.

TOR has no leverage and is up against the cap. They aren’t getting a 1st plus Strome for a rental.

Leverage? They don't have to move him. They're perfectly fine waiting for the price to be right before even considering moving him. If they don't get it, they'll keep him. They're not shopping him, they're listening and have their price set. Rielly is miles better than Ristolainen and that's the price he just got. Don't like it? There's 30 other teams out there to call and I'd be willing to bet good money that at least half the teams would be willing to pay at least the same price for Rielly and likely more since he's better.