Check out the latest on the Maple Leafs and Flames in today’s NHL Rumor Mill.

SPORTSNET: Luke Fox reports that Toronto Maple Leafs general manager John Chayka still wants to improve his club’s defensive play. However, he doesn’t necessarily think a trade is necessary, citing the club’s internal improvement in recent games.

Chayka also downplayed the club’s limited salary cap and tagging issues. He believes they have “good flexibility” and doesn’t see it as a barrier to a trade.

Toronto Maple Leafs forward Easton Cowan (NHL Images)

Maple Leafs sophomore winger Easton Cowan has avoided the sophomore slump with 13 points in 14 games. The 21-year-old Cowan has been rumored as part of potential trade packages, but Chayka believes he’d be difficult to replace.

“I don’t think any player is untradeable, but he’s a good player,” Chayka said of Cowan. “He is everything you’d want in a Toronto Maple Leaf. He loves the Leafs, is passionate about it, plays a 200-foot game, does whatever it takes, in the gym, doing extra on the ice.”

Chayka didn’t rule out making another blockbuster trade. On Sept. 28, he shipped popular power forward Matthew Knies to the Columbus Blue Jackets for Kirill Marchenko in a six-player deal.

SPECTOR’S NOTE: Losing oft-injured shutdown defenseman Chris Tanev earlier this month sparked speculation that Chayka was shopping around for help. However, the Leafs’ recent four-game win streak and Tanev’s return to practice have likely prompted him to remain patient for now.

Cowan will be part of the asking price if Chayka wants to swing another blockbuster. However, it would have to be a significant return to include the promising young winger in a deal.

THE ATHLETIC: Pierre LeBrun reports Calgary Flames GM Craig Conroy will have some important decisions to make before the March 1 trade deadline.

Teams have called about Zach Whitecloud. The 29-year-old defenseman is signed through 2027-28 with an affordable $2.75 million average annual value. However, Conroy is reluctant to part with Whitecloud’s experience and skill. He also noted that the veteran blueliner wants to stay and be part of the club’s rebuild.

Center Morgan Frost is eligible for unrestricted free agent status next July. However, the 27-year-old center fits the age bracket of the roster, so Conroy is interested in keeping him.

LeBrun believes Ryan Strome is a more likely trade candidate. Like Frost, the 33-year-old center is UFA-eligible next July. However, Conroy is taking a wait-and-see approach.

SPECTOR’S NOTE: Conroy has spent the past two seasons rebuilding his roster by shuttling out veterans for young players, draft picks, and prospects. However, it could be worthwhile retaining Whitecloud, Frost, and Strome if they’ve bought in and want to be part of the solution in Calgary.