The Maple Leafs have officially signed defenseman to a five-year extension, as announced on Monday. This deal prevents him from entering next summer’s free agency and carries a salary cap hit of $4.51 million through the 2029-30 season.
Jake McCabe five-year extension
According to Elliotte Friedman of Sportsnet, the total value of the contract is higher than the cap hit suggests due to deferred payments in the 2026-27 and 2027-28 seasons. McCabe’s agency, Bartlett Hockey, confirmed the total value of the contract at $23.5 million, which translates to an average annual value (AAV) of $4.7 million.
This development isn’t surprising; Friedman reported in early September that McCabe and the Leafs had initiated extension talks, which McCabe confirmed during training camp. Sportsnet’s Nick Kypreos noted just before the regular season began that the two parties were close to finalizing a deal, although the actual contract is shorter than the six-year, $30 million deal he had predicted.
Over the past couple of years, Toronto has benefited from McCabe’s contributions at a bargain price. He initially signed a four-year, $16 million contract ($4 million AAV) with the Blackhawks in free agency in 2021. However, with Chicago in rebuild mode, he was traded to the Leafs along with depth forward Sam Lafferty before the 2023 trade deadline, with the Blackhawks retaining half of McCabe’s salary, meaning he cost the Leafs just $2 million against the cap.
Even at his full $4 million cap hit, he would likely still be under market value, considering he averages over 20 minutes of ice time per game with the Maple Leafs. Last season, at 31, he achieved a career-high of 28 points (8 goals, 20 assists) in 73 games, along with a +20 rating.
His advanced metrics support his performance, showing him to be a highly valuable two-way, top-four defender. While he often plays in defensive situations, the Leafs controlled 50.6% of shot attempts and 51.6% of expected goals with him on the ice last season. McCabe was also highly engaged physically, finishing third on the team in blocks (129) and second in hits (219).
He has started the current season strong, averaging 21:09 of ice time per game—on pace for a career high—while contributing three assists and a +6 rating over nine games. He ranks second on the team in both blocks (17) and hits (19), with the Leafs controlling 55.4% of shot attempts and 54.7% of expected goals at even strength when he is on the ice.
Although he may not be a primary scorer, he’s not a liability offensively and can be utilized in power-play situations if needed. While having him under contract through his age-36 season may raise concerns in the future, his current cap hit of just over $4.5 million is quite reasonable for the value he brings.
As for the team’s salary cap situation, the Maple Leafs now have $66.23 million committed to 15 players for the upcoming season. With a projected cap increase to $92.5 million, they have approximately $26.27 million in space to fill eight roster spots, which will include new contracts for UFA forwards Mitch Marner and John Tavares, as well as RFA Matthew Knies.
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