Some NHL trade speculations disappear the moment a deadline passes. This one seems to gain a new chapter every few weeks.
Matthew Knies has remained at the center of discussion ever since reports surfaced that the Toronto Maple Leafs and Montreal Canadiens explored a blockbuster deal involving the young winger.
What initially looked like a last-minute paperwork disaster now appears to have been something entirely different, with a well-known insider now offering a much clearer picture of what happened behind closed doors.
Darren Dreger Reveals Why Montreal Canadiens’ Push for Matthew Knies Collapsed
Knies was reportedly one of the biggest names discussed before the trade deadline, with Montreal aggressively pursuing the Maple Leafs forward.
Early reports suggested the deal unraveled because paperwork reached the NHL office right after the league deadline, creating the belief that one of the biggest trades of the season slipped away at the final moment.
Darren Dreger, however, says the reality was not nearly that straightforward.
Speaking on Habs on TSN 690, Dreger pushed back on the idea that the trade was inches from becoming official.
“I can tell you my sources on this are impeccable,” Dreger said. “I’m not questioning what’s been out there, other than to say that it wasn’t that close.”
According to Dreger, discussions between Toronto and Montreal were extensive, and Knies was unquestionably a major topic. But despite the sheer attention the negotiations received, the clubs never bridged the gap on the piece Toronto considered essential.
“I’m told that the messaging from Treliving to the Knies camp was that it never got that close,” Dreger explained while discussing conversations former Leafs GM Brad Treliving had with Knies and his representatives after the deadline.
The reason came down to one player.
Michael Hage Stood Between Toronto and Montreal
Dreger revealed that Toronto’s interest centered heavily on Canadiens prospect Michael Hage, one of the most highly regarded young players in Montreal’s system. While several trade frameworks have been reported, Toronto apparently viewed Hage as the cornerstone needed to justify moving a player of Knies’ caliber.
“Brad Treliving needed Michael Hage to make that deal,” Dreger said. “And Michael Hage, at that point, wasn’t available. So they had to just cut bait.”
This stance from Montreal is not difficult to understand.
Hage has emerged as a key part of the organization’s future plans after an impressive season at the University of Michigan and a standout showing on the international stage. The Canadiens see him as a long-term solution down the middle, making him one of the few prospects they were unwilling to sacrifice.
For Toronto, the logic was equally clear.
Knies is a 23-year-old power forward signed through the 2030-31 season on a team-friendly contract. If the Maple Leafs were going to move such a valuable asset, they wanted an equally valuable young building block in return.
Dreger’s comments reshape the narrative surrounding the failed trade. Rather than a deal lost because of a clock ticking down, it appears negotiations stalled because the two teams never agreed on the player who mattered most. In the end, it was not timing that killed the blockbuster. It was Hage.
