Who wins Marchenko-Knies trade for Toronto Maple Leafs?
The Toronto Maple Leafs edged the Columbus Blue Jackets in the blockbuster Marchenko-Knies swap, earning an A- from ESPN versus Columbus's B+. Toronto locked in Kirill Marchenko on a six-year, $12.5 million AAV extension after acquiring him with Miles Wood and Elvis Merzlikins for Matthew Knies, Steven Lorentz, Emil Andrae and a conditional 2027 second-round pick.
Key Takeaways
- The deal closed Sept. 28, 2026, less than a day before the 2026-27 NHL season opened.
- ESPN graded the Toronto Maple Leafs A- and Columbus B+.
- Marchenko signed a six-year extension at a $12.5 million AAV after the trade.
- Knies, 23, brings a $7.75 million AAV and top-six upside to Columbus.
- Columbus retained 18% of Elvis Merzlikins' salary in the six-player swap.
What exactly happened in the Marchenko-Knies trade?
According to ESPN's trade grades, Columbus sent Kirill Marchenko, Miles Wood and goaltender Elvis Merzlikins to Toronto for Matthew Knies, Steven Lorentz, defenseman Emil Andrae and a conditional 2027 second-round pick. The Blue Jackets kept 18% of Merzlikins' salary.
The NHL.com Maple Leafs site confirmed Marchenko's extension the day after the trade. The 26-year-old had 27 goals and 40 assists in 76 games for Columbus in 2025-26 and owns 208 career points (102 goals, 106 assists) in 292 NHL games.
The Athletic framed the move as a strange end to a Leafs success story: Knies was a fan favourite and first-line winger who thought trade talk was behind him after preseason. General manager John Chayka's deal is his most daring since taking over in May.
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Why did ESPN give the Toronto Maple Leafs an A-?
Cost certainty drove the grade. Marchenko had one year left at $3.85 million plus another year of team control as a pending RFA. Toronto chose a sign-and-trade path instead of waiting through a season-long negotiation.
ESPN expects Marchenko's production could climb beside Auston Matthews, with some believing a first 40-goal season is possible. His career high is 31 goals, set in 2024-25. A projected top line of Jack Roslovic, Matthews and Marchenko would leave William Nylander, John Tavares and 2026 No. 1 pick Gavin McKenna as a second unit.
Questions remain. Knies was already on a cheaper $7.75 million AAV for the next five seasons after the first year of his six-year deal. Merzlikins is on IR after shoulder surgery in the final year of a $4.428 million contract. Wood went unclaimed on waivers and offers depth.
How do the Blue Jackets still grade out as a B+?
Columbus needed a comparable winger after moving Marchenko, who led the team with 27 goals and was second with 67 points last season. Knies posted 23 goals and 66 points and can fill a top-six role beside Adam Fantilli and Kent Johnson.
His AAV helps next to Fantilli's $13.75 million starting this season. Lorentz adds short-handed minutes for a club that ranked 28th on the penalty kill. Andrae, previously dealt from Philadelphia on June 16, logged 13 points in 61 games last season and gives Columbus another blue-line option.
Knies told The Athletic the news was moving fast. He is younger than Marchenko and may thrive with less Toronto media noise—leaving both sides with a credible path ahead.