What happened: The Toronto Maple Leafs have traded defenseman Brandon Carlo to the St. Louis Blues in exchange for a pair of third-round picks. The move comes roughly a year after Toronto acquired Carlo to bolster its blue line.

Why it matters: Dealing Carlo for two third-rounders unwinds much of the cost Toronto paid to add him, reshaping the Maple Leafs' defense and salary-cap picture heading into the 2026-27 season. For St. Louis, Carlo brings a big, physical, shutdown presence to the back end.

What to watch: Watch how Toronto redeploys the freed cap space and roster spot through the rest of the offseason, and where Carlo slots into St. Louis' defensive pairings for 2026-27.