The Montreal Canadiens spent much of last season searching for ways to accelerate their rise in the Eastern Conference. At the same time, the Toronto Maple Leafs were evaluating major roster decisions amid organizational changes and growing pressure to improve.
One deal involving Matthew Knies, however, nearly connected the longtime rivals in a way few expected. Recent comments from an NHL insider have now shed light on what was almost one of the biggest trades of the season.
David Pagnotta Reveals Canadiens’ Massive Offer for Matthew Knies
According to NHL insider David Pagnotta, Montreal and Toronto had a blockbuster trade framework in place leading up to the March 2026 deadline.
Appearing on Daily Faceoff, Pagnotta connected recent comments from Canadiens general manager Kent Hughes to the failed transaction. Hughes had previously hinted that Montreal came close to completing a major deal and remained interested in revisiting it during the offseason.
“Kent Hughes alluded to this when he spoke to the media back at the trade deadline,” Pagnotta said. “He said, ‘We had something big. It didn’t work out. We are going to revisit it in the summer.’ Then he reiterated those comments this week when he said, ‘Yeah, we still hope to make that happen, to revisit it.’”
Pagnotta then identified the team and player involved.
“Well, it was with the Toronto Maple Leafs. So it was big. It was Matthew Knies,” he said. “They had an agreement in place between the Leafs and the Habs that would have sent Matthew Knies to Montreal.”
The proposed return shows just how aggressive Montreal was prepared to be. Pagnotta revealed that Alexander Zharovsky was part of the package, along with another prospect and two first-round draft picks. He described it as “a four-pronged return for Matthew Knies,” showing the value Toronto placed on the young winger.
Elliotte Friedman added more weight to this piece of reporting, noting that he had heard something similar on the Canadiens’ chase for Knies.
The trade ultimately collapsed due to complications that arose near the deadline. Although both organizations had reached an agreement, the transaction was never completed. Hughes’ recent comments suggest Montreal remains interested in revisiting discussions, making this a storyline worth watching as the offseason progresses.
The level of interest is not surprising considering Knies’ status around the league. The Maple Leafs signed him to a 6-year, $46.5 million extension in June 2025, committing to him through the 2030-31 season. The contract carries a $7.75 million cap hit and contains no trade protection for the first five years, giving Toronto complete flexibility if management decides to explore options.
Another factor is the organizational transition taking place in Toronto. The extension was signed under former general manager Brad Treliving, but the team is now operating under John Chayka. With the front office evaluating different ways to improve the roster, Knies has naturally become one of the team’s most valuable assets.
This viewpoint was echoed by NHL insider Chris Johnston on The Athletic Hockey Show. Johnston said Toronto “has to at least consider Knies” because of the organization’s lack of depth and future assets.
He also noted that the Leafs have explored scenarios where they could turn “one good player into two good players,” though he emphasized that moving Knies is far from a certainty.
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Whether negotiations resume remains to be seen, but Pagnotta’s report revealed the magnitude of Montreal’s pursuit.
