Leafs will no longer be paying Sheldon Keefe for the next two years

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Fred Maltes
May 24, 2024 (9:03)

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Photo credit: Isaiah J. Downing-USA TODAY Sports

Sheldon Keefe has secured a significant new coaching position with the New Jersey Devils, clearing the Toronto Maple Leafs of any financial obligations linked to his previous contract.

This development comes after the Devils, in efforts that remained largely covert, decided to bring Keefe onboard as their head coach for a solid four-year term.

The Maple Leafs had previously extended Keefe's contract through 2024, hoping he would lead the team for years to come. However, after a disappointing exit from the first round of the playoffs, the Leafs' management, led by Brad Treliving, opted to dismiss Keefe before he could begin his new term. Despite the potential for a relaxed sabbatical, Keefe chose to advance his coaching career by accepting the offer from New Jersey.

Pierre LeBrun of TSN provided insights into the financial mechanics of Keefe's move: the enhanced terms of Keefe's new contract with the Devils�both in duration and annual compensation�relieve the Maple Leafs of any financial burden previously held. This shift not only frees Toronto from their financial commitment but also represents a significant career step for Keefe.

Further clarity on this financial interplay was provided by David Alter, who highlighted the contractual norms within the NHL that applied in Keefe's situation:

"The way many of these NHL contracts work is simple. If another team wants to hire an existing staffer who is already under contract and is granted permission, the new team can hire said staffer. The team with an existing contract would pay out only the difference in salary if that staffer took on a job that paid less. In Keefe's case, his contract not only had more term (four years), which was important in this kind of deal, but, as Lebrun puts it, pays more on an annual basis, leaving Toronto completely off the hook in paying Keefe."

The strategic move by the Devils not only secures a seasoned coach in Keefe but also presents a scenario where Maple Leaf Sports & Entertainment are spared any residual financial responsibility. This arrangement underscores a savvy negotiation by the Devils, effectively leveraging their financial flexibility to establish a clean slate with Keefe, ensuring a win-win for all parties involved.

This transition marks a pivotal moment for both the New Jersey Devils and the Toronto Maple Leafs, setting the stage for new beginnings as each team looks forward to upcoming seasons with fresh leadership dynamics at the helm.

Previously on MapleLeafsLatest

Off-season habits of Lightning players making the Leafs look bad

Sheldon Keefe explains his decision to sign with the New Jersey Devils

Berube's leadership quote seems to address Toronto's captaincy queries

POLL
24 MAI \| 98 ANSWERS Leafs will no longer be paying Sheldon Keefe for the next two years How would you rank Keefe's stay in Toronto, on a scale of 1 to 10?
1-3	7	7.1 %
4-6	50	51 %
7-9	38	38.8 %
10	3	3.1 %
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