A little-known NHL rule is complicating centerman from signing with Maple Leafs after trade

The thing standing in his way is not money.

His agent Shumi Babaev told RB Sport that his client remains focused on Toronto even after Dynamo Moscow shipped his KHL rights to Admiral Vladivostok on July 28.

Cap space has become the default explanation for the delay. It is the wrong one, and the correct one sits in the waiver rules.

Der-Arguchintsev signed his first NHL contract in September 2018 and spent four professional seasons under it. His waiver exemption expired years ago.

That means Toronto cannot sign him and quietly assign him to the Toronto Marlies. He would have to clear waivers first, in front of every other club in the league.

Six goals and 31 assists in 57 games is a serious season for a 25-year-old center. Somebody claims that on waivers.

A one-year deal near the league minimum barely dents the cap.

The real cost is losing him for nothing.

Babaev said in March that his camp had contacted Brad Treliving and was waiting on a new general manager. Since then Toronto hired John Chayka, fired Craig Berube, hired Jim Hiller and drafted Gavin McKenna first overall.

Nobody was processing a KHL playmaker's paperwork during that stretch. The silence reads as churn, not rejection.

There is a cleaner exit worth watching. Toronto can trade his signing rights to a rebuilding club with an open roster spot, which costs that team no cap room and gives Der-Arguchintsev the NHL look he wants.

Admiral Vladivostok holding his KHL rights is not leverage.

It is a placeholder for a player who has already told everyone where he intends to play.

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