9:52 a.m.: The first-year salary of McCabe’s extension will be paid out mostly via signing bonus, reports David Pagnotta of The Fourth Period. The second, third and fourth years of the deal also include some signing bonus money, while the fifth and final season is paid entirely via base salary. McCabe’s total compensation each year breaks down as follows:
2025-26: $6MM
2026-27: $5.5MM (including deferred money)
2027-28: $5.5MM (including deferred money)
2028-29: $3.6MM
2029-30: $3.6MM
9:02 a.m.: The Maple Leafs have signed defenseman Jake McCabe to a five-year extension, the team announced today. It keeps the blue liner off next summer’s UFA market and makes him cost $4.51MM against the salary cap through the 2029-30 campaign. Elliotte Friedman of Sportsnet reports the total value of the deal is higher than the cap hit indicates due to deferred money in the 2026-27 and 2027-28 campaigns. McCabe’s agency, Bartlett Hockey, confirms the total value of the contract is $23.5MM, equating to an AAV of $4.7MM.
It’s hardly unexpected news. Friedman reported at the beginning of September that McCabe and the Leafs had begun extension talks, which McCabe confirmed at the beginning of training camp. Sportsnet’s Nick Kypreos added shortly before the regular season started that the two sides were close to a deal, although the final contract is shorter than the six-year, $30MM pact he predicted.
For the past couple of years, Toronto has benefitted from McCabe’s services at a bargain-bin price. He signed a four-year, $16MM contract ($4MM AAV) with the Blackhawks in free agency in 2021, but with the team squarely in a rebuild, they traded him and depth forward Sam Lafferty to the Leafs before the 2023 trade deadline. Chicago retained half of McCabe’s salary in the deal, meaning he’s cost only $2MM against Toronto’s cap.
Even his full $4MM cap hit would have likely been below market value for McCabe, who’s averaged north of 20 minutes per game in a Maple Leafs sweater. Last season was the 31-year-old’s best, as he posted a career-high 28 points (8 G, 20 A) in 73 games and a +20 rating.
His possession metrics back up those numbers, painting the picture of an extremely valuable two-way, top-four defender. McCabe’s usage trended toward the defensive zone at even strength, but even still, the Leafs controlled 50.6% of shot attempts with him on the ice last season and 51.6% of expected goals. He was also one of their most physically involved players, finishing third on the team in blocks (129) and second in hits (219).
McCabe is off to a similar start this season. He’s averaging 21:09 per game, which is on pace for a career-high while adding three assists and a +6 rating in nine appearances. He has 17 blocks and 19 hits, ranking second on the team in each category, and the Leafs are controlling 55.4% of shot attempts and 54.7% of expected goals at even strength with him on the ice.
He’ll never be a significant factor on the scoresheet, but he’s not an offensive liability. He can be deployed in power-play situations if necessary and is good in transition. Having him under contract through his age-36 season could be dicey, but for now, just north of $4.5MM is an extremely affordable cap hit for what his all-around game provides.
The Maple Leafs now have $66.23MM in cap space tied up in 15 players for next season. Assuming a projected cap increase to $92.5MM, that gives them roughly $26.27MM in space to fill eight roster spots, including new deals for UFA forwards Mitch Marner and John Tavares and RFA Matthew Knies.
Image courtesy of USA Today Sports.
25 years later and this better of the two McCabes is still earning less than per year than the lesser McCabe.
Completely different players. If only Kaberle shot the puck more. Everyone needs a can opener ;)