***Oops, missed a 0 on the cap, should be 83M. Leafs have about 6K space left on this team.***
**This trade assumes that after Fox indicates to Carolina that he does not intend to sign with them, that Toronto is allowed to negoiate a contract with him prior to the trade - likely full A and B bonuses to entice him.**
Rather than going for a Pesce or Hamilton out of Carolina like most Leaf fans want, instead try targeting Faulk with retention and Fox as a return.
Why Faulk with retention? He only has 1 year left, making retention a "cheap" option to increase his value to the Leafs who are cap strapped. Faulk has had a bounce back year with an increased commitment to defense. If he works out, he can likely get resigned at a reasonable cap/term. If not, he's a good rental bridge to give Liljegren and Sandin more development time.
Why Fox? He needs an ELC where the max base salary can be 925K (bonuses, if reached, will cost more), ideal for the Leafs cap situation. He's a right shot offensive D who is 21, not 18. He's dominating the NCAA. He wants a chance to play in the NHL ASAP (https://www.tsn.ca/waddell-fox-hasn-t-decided-on-future-yet-1.1280437). With the Leafs as a RHD he could fight for a top 4 spot right off the bat on a team who is a contender, surrounded by talent, even get some 2nd unit PP time. He'll have a chance to produce in that role (ask Jake Muzzin) and get his bonuses. Some say he wants to play in the US only, however USA hockey alums in Matthews and Bracco might be able to change his mind when it comes to Toronto as a Canadian destination.
In exchange for a D Carolina likely won't have in their lineup the following year and a D that could very well wait out his NCAA career and go UFA (since Hamilton and Pesce are entrenched in the top 4), they get Kapanen (a young, fast, two-way, top 6 player whom they are long rumored to covet and who has history with Aho) and Brown who helps their top 9 depth and has RFA control after next season.
Trade seems fairly fair from my perspective, especially if Fox indicates he doesn't plan to sign with Carolina and would prefer to sign with a team where he will have more immediate opportunity to play.
Suddenly Toronto's D depth looks pretty good with Fox, Sandin and Liljegren all likely to be NHLers in 19-20 or 20-21. Joining Reilly, Dermott and whomever else they sign or develop.
Of course this is all a bit of a gamble, assuming Fox can play in the top 6 effectively transitioning from the NCAA.
Zaitsev to CLB for Nash is just an idea. Nash was not what CLB expected after signing that contract. He has 2 years left at 2.75M, which is high for a 4th liner/possible healthy scratch. Zaitsev is a better player, albeit at a higher cap/term (hence the 2nd included). CLB will likely have a ton of cap space after this season with Duchene, Panarin, Bobrobsky all leaving. And are in desperate need of draft picks/prospects to recoup all those lost in their 2019 TDL spending spree. For Toronto Nash's ability to play C or RW is a nice bonus. Gives them a PK C option as well. If he doesn't work out, they can likely move him with a cheaper sweetener to another team, bury some of his contract or buy him out.
Justin Faulk is not an upgrade as far as our defense is concerned, and in my personal opinion, he is not a very good defender. People need to stop trading Justin Faulk to Toronto. The Leafs could have had in the offseason and at the deadline and chose against it. Why would they suddenly do it? Because Faulk overs up a defensive element on their right side they didn't have before? You wish!
As for Adam Fox, it is a complicated situation, but I would agree with @palhal that unless the Leafs are getting a signed, sealed and delivered Adam Fox, this deal is a complete non-starter. Besides, why lose Kapanen when the Leafs could sign him for free after next season? Sure, it will require some patience, but every year the kid is in the NCAA, he is developing his game. I like a team with Kapanen and Fox on it, rather then only one, or, in your case, potentially neither.
Jeez, there is big difference between Fox who can a UFA in August 2020, than Kapanen who is under Leafs NHL control till July 1 2024. Is Dahlin gonna be a UFA in summer of 2021? No he'll be a Sabres RFA, under Sabres NHL control till July 2025.