What happened: Elliotte Friedman reported late at night that the Toronto Maple Leafs and Tampa Bay Lightning are working on a sign-and-trade involving defenseman Darren Raddysh. Friedman cautioned that the arrangement is not expected to be finalized until the morning. No terms have been disclosed.

Why it matters: A sign-and-trade would let Tampa Bay recoup an asset for Raddysh while sending him to a Toronto blue line that is being reshaped this offseason, where the Maple Leafs have already been weighing roster moves. The mechanism matters because it suggests Raddysh's deal will be agreed to before the move is processed, a structure clubs use to manage cap and term.

What to watch: Watch for confirmation in the morning, when the framework is expected to be completed and any term, dollars, or accompanying assets are reported.