Morgan Rielly's trade market is moving this offseason, and this morning Pierre LeBrun of The Athletic made one thing clear: Vancouver isn't on it.

LeBrun reported on June 16 that he does not believe the Canucks are on Rielly's no-trade list, which effectively means the Leafs could move him there if they wanted to, but Rielly himself has no apparent interest in going.

That's a significant distinction.

Pierre LeBrun: Re Morgan Rielly: I don't believe the Canucks are on [his trade] list.

A player's trade list isn't just paperwork. It tells you where a guy actually wants to play, and where he'd quietly kill a deal.

Rielly finished this past season with 36 points in 78 games, a -18 rating, and a $7.5 million cap hit through the contract. He's 32.

What a dead-last Vancouver team means for Rielly's trade value

The Canucks finished 32nd overall. Dead last. Their 25-49-8 record and a -100 goal differential tells you everything you need to know about the state of that franchise heading into the offseason.

Head coach Manny Malhotra inherited a mess. Vancouver allowed 316 goals this season against just 216 scored.

Bringing Rielly in wouldn't fix that. It'd be like putting new siding on a house with no foundation.

Toronto's side of this equation isn't pretty either. The Leafs finished 28th overall at 32-36-14, a -46 goal differential, and lost their final seven straight.

That's a rebuild conversation, not a retool conversation.

So where does Rielly go? That's the real question. His no-trade clause means any deal needs his sign-off, and with Vancouver apparently off the table, the market just got narrower.

Over his NHL career, he's been a Maple Leaf. That identity matters in these situations, especially for a player with his kind of contractual leverage.

The Leafs need cap flexibility and organizational direction. Rielly at $7.5 million on a team that went -46 doesn't help either cause.

Who does want him, and on what terms? That part of the story hasn't surfaced yet.

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Morgan Rielly turned down a trade to a Canadian team, per Pierre LeBrun

Should the Maple Leafs trade Morgan Rielly this summer?

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