So the Leafs are 4th in PK, and that's the logic for the trade?

GIO = LD - no need for that spot.

Rielly
Muzzin
Sandin

That is solid.

Dermott as the LD/RD pine rider is as good and as affordable as it gets these days.

a #2 pairing RD or a top pairing defensive juggernaut to bump Brodie down to 2nd pairing is all the Leafs need on the back end. Subban would work nicely with Muzzin IMO. No need to add more than that.

So Devils trade PK and end up with Giordano?

No. NJ & SEA swap PK & Giordano each retaining 50% then make deals with Leafs. It’s so SEA can retain extra on PK

So NJD:
- retains $4.5m on Subban
- retains $3.75m on Giordano
- takes $2.5m on Ritchie
- takes $2.0m on Holl

Devils get $4m higher AAV this year, $4.5m higher AAV next year and all we get is Abramov a 2nd? And give away Subban for nothing?

No. NJ is only retaining on PK, 4.5m.
You get Holl & Abramov for PK & a 2nd for taking Ritchie

Ok the little note “to NJ” threw me off.
Devils likely pass on the Ritchie part