They’ll probably only use it on tanev they’ve been heavily rumoured to be in on him however the flames are currently trying to extend him so I’d be surprised if they sold him and even more surprised if they sold him to the leafs, leafs also haven’t been rumoured to be in on Hanifin and Hanifin likely wouldn’t waive to come to Toronto, and finally zero rumours on larsson and makes sense because he isn’t on the final year of his deal so why would they sell him? And zero chance they use it on a forward

I really think the very middling Flames should be in sell mode. But I don't think the Leafs should in their players either. Hardly game changers.

Yeah plus they’ll make us over pay and there’s nothing smart about that

What I really don't understand about so many trades to the Leafs, is that Leafs really don't need Dmen now
Reilly, McCade, Brodie and even Timmins now are solid. Giordano and Liljegren will be returning soon. Benoit and Lagesson surprisingly are playing well, though maybe I don't want them next 50 game.
So I'm saying, what the panic? , especially if talking relatively little improvement at a high price.

From the Flames POV, I don't think they would particularly don't want to be sellers now since they are a playoff race. Come closer to TDL...they might feel different.
Just for the structure of the Flames long term, I think they should be sellers. They're middling with Lindholm, Hanifan and Tanev. No real point in resigning them cause giving them higher salaries doesn't make the team better. Sell, and use the new found cap wisely next summer.