Let's say Hunwick is claimed on waivers when you send you down. Where does that leave the defence. Leivo, Connor Carrick and Corrado wouldsign for bigger contracts elsewhere. Is bringing in Enroth developing the young goalies. Seems to me there is a lot to lose just be signing Stamkos. And really the Leafs really don't have the cap, unless they get rid of a bigger piece like JVR or Bozak.

If Hunwick is claimed I say "so long!" He is our 7th defenseman IMO. Leivo, C Carrick and Corrado are RFAs without arbitration rights. What young goalies, Sparks? Bibeau? They are not NHL talent. Leafs can be patient to find their next goalie. Enroth can hold the fort for the time being... This shows they do have the cap space... Did you read the description?!?

Yes, I read the description. You are correct, the players you mentioned to not have arbitration rights. But RFAs do have options. And signing guys below what they will get on the open market, especially when their would no compensation paid to the Leafs shows that signing UFAs when you really don't have cap room makes no sense.
When McDavid completes his three year ELC just like Leivo and Carrick did, is he going to sign a 575,000 contract too?

Are you comparing Sam Carrick and Josh Leivo to McDavid? No one is going to offer sheet either player. They are fringe players lucky to get a contract. I don't even have Carrick on the roster. Ok Leivo could be signed at $1M, they can still demote him until Horton goes on LTIR. The point is with a few moves they can finesse the roster to squeeze under the cap to open the season.

Offer sheets are rare enough to begin with. Offer sheets on guys like Leivo, Carrick and Corrado??? Won't happen. If you're the agent for these players, are you advising them not to sign and to hold out in hopes that they get offer sheeted? They may ultimately sign closer to the $700-$900k range but they are not holding out.

And throwing Bibeau and Sparks into NHL action when they're not ready is not developing them...it's feeding them to the wolves and crushing both their confidence and the confidence of the team playing in front of them.

The leafs can absolutely afford to bring in Stamkos and Shannahan/Lou have said as much (without usking Stammer's name specifically).

Exactly, Juice. Here are the qualifying offer amounts for the Leafs RFAs. I don't see how any of them but Corrado, C Carrick, Marincin and Holland should get much more than the QO:
Harrington 575000
S. Carrick 600000
Smith 575000
Corrado 632500
C. Carrick 575000
Sparks 600000
Marincin 700000
Holland 775000
Leivo 750000
Percy 832500

I'll make these changes but it doesn't affect the overall picture.