Protecting Assets

Aside from the fact that Barry Melrose was going to be hired as the new head coach of the Tampa Bay Lightning, this qualifies as the summer's worst-kept hockey secret.

Bryan McCabe's going to be dealt by the Maple Leafs to Florida today, with the holdup in the deal that was worked out weeks ago being that McCabe needed to be paid a $2-million bonus yesterday before the Panthers would finalize the deal. McCabe's already relocated to Florida, and while it's not hard to believe he'll play a lot better outside of Toronto, which became his personal purgatory, you have to wonder if refusing to be traded last winter has worked out well for him, given that he's now been shunted aside to join the endless mediocrity in Florida.

Meanwhile, so much for the constant bleating of those who said it would be impossible to trade McCabe and his five-year, $29-million contract.

Can't say this is a bad trade for the Leafs, and can't say it's a good one that will help significantly. It certainly shouldn't be heralded as any great achievement, for having to move McCabe is really a sign of failure for both the team and player after he was signed to his lucrative contract and managed to play out only two of the five years in Toronto before finding it impossible to stay any longer. Mike Van Ryn is four years younger and the Leafs gain some salary cap flexibility, although with the club's payroll now at $46 million and the cap at $56.7 million there didn't seem to be an urgent need to chop salary.

It's the final nail in the coffin of the comfy cartel that was the Muskoka Five, but more than anything, its another piece of intriguing evidence on the manner in which the Leafs have struggled terribly to manage assets in the post-lockout era.

Cast your mind back two years to the middle of the 2006-07 season. Mats Sundin was a point-per-game centre, McCabe a 57-point offensive threat from the blueline, Darcy Tucker a respected 24-goal shooter, Andrew Raycroft a reasonably solid workhorse goalie and Kyle Wellwood an emerging talent who ended up with 42 points in 48 games that season.

For that group of five players, which partially comprised what the team described as its core, the Leafs have harvested very little, although Sundin, theoretically, might still come back (Why in the world would he?). Well, they've harvested Van Ryn, a draft pick and whatever other bits might accompany the deal today. Otherwise, zippo.

You can blame John Ferguson Jr. or whoever you want, or the nature of no-trade contracts or the difficulty of operating in a cap world.

But these are the facts. The Leafs had those assets, overvalued most of them, held on to some of them too long and ended up with little in return when those assets were moved elsewhere. The Leafs used to be able to compensate for this type of weak, wasteful management when they could just go out and buy as many players as they needed, something that's been a lot more difficult to do since the end of the lockout to end all lockouts.

In fact, the Leafs had to pay Tucker, Raycroft and now McCabe to go away, just as they did with Tie Domi and Ed Belfour. The reminder of Tucker, for instance, won't be a young player or draft pick but the $1 million annual cap hit that will show up on the Leaf books for the next six years.

Anyway you cut it, this has been a period of horrific asset management for the Leafs, one of the reasons the cupboard looks distressingly bare as they head into a season in which winning 30 games will likely be a significant challenge.

Comments

[OddyOh]

Yeah, but if they're trying to tank the season anyway, what's the complaint?! The only way out is down.

JFJ sucks, but his hands were tied, if we believe the story about how he went to The Board with a rebuild plan and was told to stuff it, and get to the playoffs at all costs.

MLSE is a joke, they should be ashamed of themselves. What would Hap Day think!

[John DiIorio]

Well written. The thing that blindsides everyone is the team on paper; when the team looks good on paper, everyone says "the game isn't played on paper", this year should be no different. I'm an optimist, or maybe an idiot to some for thinking this, but let's just wait about 40 games to see what the Leafs are about, because the game ISN'T played on paper. Maybe - just maybe, the Leafs will surprise (or piss-off) some people with an exciting season and push for the final playoff spot and allow people to forget about the word "tank" or "taveres" or "draft". Concentrade on THIS season; it's not like Leafs fans will tune out for 5 years, we might as well have some smiles instead of chuckles along the way. Go Leafs Go

John DiIorio - North York

[Vitcor T]

We will have something to show for all of this mis-management. JOHN TAVERAS!

[Guido]

What killed McCabe was the rule changes. When McCabe played for Team Canada has was exposed on the big ice surface, and when the rules disallowed his physical style (which ironically now that he's traded, is coming back more into the game), he was lost as to what to do. He's not fast enough to play the game today. He used to be able to grab and be physical to recover - but no longer.

I don't blame JFJ for re-signing him, but I do blame him for not having the vision of the new NHL and how it would affect his players.

This season for the Leafs is pretty simple. If Mats comes back it's watchable, if he doesn't, it's going to be long year and welcome Mr Tavaras next season.

[John Hunt]

Another reason for the bare cupboard is the incredible waste of draft picks. Fletcher gave up two high draft picks to move up two slots in the draft for a stay-at-home defenseman. Maybe if you're Detroit you pull that trade. But for a team with a dirth of talent, that is simply nuts. The Leafs have everyone believing Schenn is the next Adam Foote. When did Fletcher ever draft an Adam Foote? Fletcher said the same things about Schenn that he said about Jeff Ware. Talk about a kiss of death. A high third round pick for Jamal Mayers?! A second and a fifth round pick to Montreal for a 24-year old minor league forward? Give me a break.

As to Damien's point on wasted assets, here is the next: Nik Antropov. He is the most injury-prone forward who has managed to last ten years in the NHL, he is coming off a career year, his salary is incredibly low, next year he is an unrestricted free agent, and the Leafs are going nowhere. Time to sell, right? Nope. Fletcher wants to build the team around him. (Go ahead, you will find the quote from sometime around the trade deadline.) We'll be lucky if Bambi plays 70 games, and does half as well without Sundin. Then go figure his worth. Stupid.

Fletcher and the Maple Leaf brass can sugar coat this anyway they want, but when you boil it down, it is nothing more than same dung, different flies.

[Peter Campbell]

I guess that is why we got rid of the management, the spoiled players and have embarked in a housecleaning program. If this fails then lets jump all over them, but lets give it a chance. Whats a few more years of mediocrity? At least we have a plan.

[Colin W]

Anytime a player is offered a contract, it's a 50:50 proposition if his numbers will be better or worse, after the signing. I think it is disingenuous for some media types and fans, with the benefit of hindsight, to talk about contracts and production after the fact. No player can be faulted for accepting the money offered to him, even if for any number of reasons, we think it is a ridiculous amount. As a matter of fact, I think if we look across all the major sporting leagues in North America, a lot of contracts signed have more to do with the market value of the players, real or imagined, and not necessarily based on skill set. It simply means the agents are doing a pretty good job, not unlike traders and oil futures. Speculating and the creation of some sense of competition, and the sky is the limit for their clients. Unfortunately, sports is all about winning, and a part of that risk is giving bad contracts to mediocre players. We should be used to it by now, and cut out the hand-wringing self-righteous protestations of associating salaries with performance expectations. Any corelation between the two is often an illusison at best.

[shawn]

Not quite sure the cupboard is bare Damien. I know the horrible drafting record of the 90's still haunts this team, likewise the trading away of picks...but those top prospects the Leafs have now are in fact top prospects not based alone on what the fans are saying but rather according to those in the know, real hockey people. I know its hard to distinguish a real legit prospect from the pretenders (with our penchant of naming every Leaf hopeful as something special), but this batch from Tlusty down to Ruesegger, not to mention Strahlman is the most solid young core since the Leafs had Thomas, Clark and Damphousse. The fact the Leafs got Hayes in the 2nd round and Stefanovich in the fourth is a good indication that the scouting staff is doing its job. And while I admit people may be expecting too much of Schenn, the Leafs made the right move in going the WHL route rather than grabbing one of the OHL d-men whose offensive stats would pale in comparison had they played in the tougher western league. That being said, I also wouldn't write of Mike Van Ryn. He might not be equal to the Bryan McCabe of the pre-olympic era, but I think barring his health he can be an improvement over the modern day version McCabe.

[Leafman]

Great article Mr. Cox, everything you said made perfect sense. The management overvalued their players such as Tucker, McCabe, and Domi. Some fans were fooled but they now understand what a fool they have been making of themselves to think mso highly of their play. If anyone is to blame it is Richard Peddie and his infamous "Reign of Error". I read a story the day after JFJ was fired and he said that in the 05-06 season he wanted to rebuild but Peddie & Co. wouldn't allow it. Ferguson was the victim, not the culprit of this. People should point and sneer at Peddie.

[jason chapman]

The Leafs now deserve whatever they get. Getting rid of Tucker and then signing Jamal Mayers. I understand that some needed a change of address, but wait till Wellwood is the next Steve Sullivan. I've already made my decision....Go Oil

[Paul L]

Damien, After all your McCabe bashing I thought you would be applauding this deal. It is a poor deal from a hockey perspective. The only silver lining for the Leafs is that it assists in there run at a top five pick next summer. McCabe is a quality defenceman who played most of his time here with tremendous passion. His absense will be missed. You mention that the Leafs may only win 30 games. We can only hope. But how do you figure that the team only wins 30 games with a guy like Toskala in net? He was over .500 last year even with a subpar start. Also in your article you said Raycroft was a solid work horse goalie. Comments like that make people wonder if you know anything about hockey at all.

[Bob Holden]

Leafs have not won a Stanley Cup in more than 40 years and only rarely have been close to contention, largely because they don't draft very well, they are fairly abysmal about developing players and only occasionally have they managed their assets well.

From time to time they get a coach, Roger Neilson, Pat Burns, or Pat Quinn who is able to play the hand he is dealt quite well, and this always tends to give ownership the impression that they are only a couple of players away from glory.

Back in the real glory days they had four Calder Trophy winners in 9 years, Frank Mahovlich, Dave Keon, Kent Douglas and Brit Selby. They haven't had one since and have rarely been close. The Big M and Keon were Hall of Famers, Douglas and Selby were journeymen. The point is, successful teams are always building the team and organization, not looking for an aging free agent to build the team around, but to complement their core.

Until they focus on the draft, develop and aquire assets, both stars and spare parts, they are unlikely going to have a Bay St parade in June (didn't it used to be April), anytime soon.

[Allan Martel]

Excellent analysis of what will become an even more painful sideshow over the course of the next season or two.

It is hard not to lay the blame for this mess squarely on JF Jr., tempting as it is to criticise MLSE management in general, JF Jr. wears most of this mess.

Reverberations in other markets? Sens - Leafs games are sold at a 40% premium in Ottawa - will the demand to see this lowly group of also rans lead to reduced pricing for Sens - Leafs games? Not likely as Leaf Nation fans show up for anything.

Mr. Cox indicates that 30 wins will be a challenge for the Leafs this year - I think he is right, perhaps even optimistic.

Will the ACC fan base continue to pay for mediocrity - seems so.

[rob]

with sundin taking so long to make up his mind, i'm thinking he's going to either retire or rejoin the leafs for a final year before calling it quits. it seems like a no brainer to take the money vancouver and some of the other teams are offering, but he's not biting. just makes me wonder.

[MIke]

Damien,

What would have done different in Cliff's position?

Hind-sight is twenty-twenty... how would you have managed to get more for McCabe, or for that matter Tucker, Wellwood?

[Matthew]

Welcome Back Damien!

It's been a long summer of utter nonsense. It's about time we all moved on and look forward (down?) to the new season and not cling to the past of the "Muskoka Five" (Which by the way, you media types really need to let that go. It was a bad term to begin with.)

Let's all just sit back and see what happens.

[Scoop in Ottawa]

Right-on Mr. Cox. Downfall of JFJ was agreeing to all of those no-movement contracts. And signing Tucker to one, instead of trading him when his value was highest was one of his biggest mistakes (though trading for Raycroft is a close second).

Kudos to Cliff for creating flexibility and re-taking control.

[FRT]

So what is your point Damien? The team is just running as "efficiently" as it has since 1967! The status-quo is intact. Dysfunction and incompetence should be part of the MLSE motto!
And if anyone thinks that they won't screw up the "new edition" in Laugh-Land...then I have some really nice beach front property for sale today CHEAP...just south of New Orleans!
What a joke! And the biggest joke himself Peddie will still be in his private seat once the season starts.

[CK]

Well, it's impossible to take any opinion seriously that has the words "Andrew Raycroft a reasonably solid workhorse goalie". I actually laughed out loud when I read that!

And come on...do people actually believe we're going to have a shot at Tavares? If anything, the Leafs are better on D and better in net than last season...sure, the scoring might not be there (although Antropov was playing WAY better without Sundin around), but we have no chance at challenging the likes of LA, Atlanta, etc. for the bottom spot. We've got a better shot at making the playoffs than we do at coming in last!!!

[Nigel Bose]

C'mon Mr. Cox. You have been on the Leafs to run these guys out of town for the past year. Now that these guys (Tucker, McCabe, Raycroft) are gone all you can do is complain. I guess you're all smiles and giggles after having the summer off eh?

Tucker, McCabe and Sundin (three of the five NTC players) all REFUSED TO WAIVE THEIR NTC rights at the deadline. Pray tell, what players and or picks did you realistically envision coming back this way?

Tucker - old, overpaid, selfish, injury-prone, NTC. Did you expect someone to give the Leafs anything of value for him?

McCabe - the only one of the five core players you listed who had any trade value. Although he is overpaid given his limitations and still carries the NTC, the Leafs were able to land a serviceable defenceman.

Sundin - UFA, is he even going to play? The Leafs were NEVER going to get anything in the event Mats left the team.

Wellwood - FRA, yes we should have kept him and if things didn't work out after training camp we could have waived him then. Otherwise, players of his skill set are a dime a dozen.

Raycroft - What the F**k, are you crazy? The guy had TWO wins last year! You think that the Bruins were beating down Fletcher's door demanding that we take Tuuka Rask back for Raycroft?

I am the first to say that the management of the team recently has been lackluster (thx JFJ), but the team was going nowhere but backwards with these guys. We got what we could get for them - end of story. More importantly, the club is not using cap space on players who clearly weren't part of the team's future (to the tune of around $15 million or so). For a club that has thrown good money after bad for far too many years, this is the best money they didn't spend. And if for no other reason, Cliff Fletcher should be applauded for taking these steps.

And one last thing, stop being so glum. It was warm and sunny today.

[Steve]

The real question is: Who will the blindly patriotic pack of sheep deem to be their new public whipping boy this year? It shouldn't take long to find out, seeing as 95% of them can't make up their own mind about anything, they'll just follow what a few others start.

Finger, maybe? The mind tingles with anticipation.

[Heaton]

What is the point of your this blog entry?!? It was great not having to read your crap during the summer.

JFJ is gone no need to badmouth the Leafs for those dumba$$ NTCs and contract extensions to Mccabe, Tucker et al.

Raycroft a workhorse goalie? Look at this stats outside of his one year when he won the calder cup which is the only reason why he is still on an NHL roster.

[Ankur Arora]

This is a tough call - I think the timing of this trade is all wrong - you trade when there is a demand - I think since McCabe did not get traded at the deadline or the June draft,when teams are trying to make a splash headlines, Cliff could not convice McCabe to void his no trade clause. Now when teams are getting started, I believe the leafs should of started the season off with McCabe, maybe he would of got a good start or even play is same mediocre self last year but I am sure there would been a major defenceman going down on a contender and im a sure that team would been desperate and maybe overpay for McCabe -1st round/2nd round picks which is the only thing that helps the leafs in the long run but I could be all wrong and maybe this year McCabe value would drop to a 5th or 6th defenceman, so its a touch call

[Kevin]

Good to see you back again, Damien. I hate to disagree with you, but I think that the Leafs will do better than 30 wins this year. I don't see them as being the laughing stock of the league, at least not on the ice. I don't think a playoff spot is in the cards this year, but I think they'll be good enough to miss out on the Tavares sweepstakes. As for the comments about Raycroft, I agree - he was a solid, if not spectacular goalie. Yes, he won only 2 games, as Nigel pointed out. But he didn't play much more than that, either. When Toskala was hurt, Maurice even played Clemmensen ahead of him (why wasn't he brought back as a backup, anyway?), and JFJ even brought up Pogge for a game. If Maurice lost confidence in him, fine, but he did win 37 the year before, and I don't think Toskala did that well, did he?

[Barb]

Hey welcome back Damien! This could only mean that the hockey season is around the corner!! For you Leaf fans who think that the blowup of the Leafs is simply an ingenious plan to land Tavares, think again - since when has Leafs management ever been that strategic? Besides, they'll probably be fighting for the last playoff spot, miss it by a dozen points and miss Tavares by a dozen more. I'm getting RDS and Centre Ice and watching some real hockey this year!!