The Toronto Maple Leafs would really like to re-sign Morgan Rielly to a new long-term contract but the big offseason contracts of Dougie Hamilton, Seth Jones, Darnell Nurse and Zach Werenski have basically made Rielly unfordable for Toronto.
Darren Dreger was on TSN Radio and he mentioned even with a home town discount the minimum Rielly would be seeking is $8 million/ per year which the Leafs cannot fit into their salary cap.
If Toronto misses the postseason or makes an early first round exit from the playoffs, the Leafs may look at trading one of the big four. Mitch Marner or William Nylander would likely be the candidates to be traded which would free up cap space to re-sign Rielly.
The most likely scenario is Morgan Rielly plays out the season for Toronto and they use him as their own rental and loose him to free agency in the offseason.