Matt Murray re-signs with the Maple Leafs on 1-year, $875K contract

The Toronto Maple Leafs have opted to extend Matt Murray to become their third-string goaltender, signing the veteran to a one-year, $875,000 contract.

The Leafs Nation’s Nick Alberga was the first to report.

TSN’s Darren Dreger confirmed Alberga’s report from earlier that the two sides opted to extend the partnership, stating that the 30-year-old would be signing a one-year contract with an AAV of $875,000.

With this deal signed, the Leafs have their goalie tandem set for the coming season as Murray will slot in behind Joseph Woll and Anthony Stolarz, who signed a two-year deal with the team Monday. They are betting that after missing much of last season with injuries, he can regain his form in a smaller role while not being relied upon too much.

An offseason bilateral hip surgery saw Murray out of commission for six months as Brad Treliving told reporters last summer that Murray was going to be placed on LTIR before the start of the season. Many assumed that he would not appear in any games in 2023-24 and while that was the case in the NHL, he was able to get healthy enough to appear in Leafs practices and play in three games with the Marlies. He went 1-2-0 in that span where he recorded a .846 save percentage and a 4.06 GAA.

Murray last appeared in an NHL game on April 2, 2023, when he suffered a concussion in a game against the Detroit Red Wings. In his debut season with the Maple Leafs, he got into 26 games where he posted a record of 14-8-2, a .903 save percentage, a 3.01 GAA, and a shutout. He was initially brought in via a trade with the Senators in the summer of 2022 that also saw the Leafs get two draft picks and 25 percent of his cap hit retrained in exchange for future considerations.

It goes without saying that Murray is taking a significant pay cut to remain in Toronto as he is coming off a cap hit of $6.25 million. His value has certainly diminished because of various injuries over the years, but he is betting on himself to regain his form in a smaller role and attempt to revitalize his career after taking most of the past year off. Whether or not it pays off remains to be seen, but it is one that can be a low-risk-high-reward move.