The Toronto Maple Leafs made a major decision to lock in one of their “core four” on Wednesday. Superstar forward Auston Matthews has signed a four-year contract extension with the team. As a result, he is now the highest-paid player in the NHL.

Matthews was set to hit the open market next summer as an unrestricted free agent. There was a ton of speculation surrounding his future. Some believed the 25-year-old could jet for a contending team in the US. Others believed he could go home and play for the Arizona Coyotes. Regardless, his future held a ton of intrigue for fans and teams alike.

Now, he has decided to remain in one of hockey's biggest markets with one of the sport's most historic franchises. It's a major statement of faith from Matthews in his ability to win a Stanley Cup in Toronto. How that turns out is obviously unknown for now. But let's take a look at this contract with the knowledge we have now, and see how it shakes out for Auston Matthews and the Toronto Maple Leafs.

Auston Matthews remains with Maple Leafs

As of this writing, there are still specifics of this contract that remain unknown. We don't know if Matthews received any no-trade or no-movement protection, for example. So we're mostly just looking at the dollar amount right now.

Through that lens, can we really argue with Matthews' decision to remain in Toronto? He is the highest-paid player in the entire NHL for now. If a team is willing to pay you more than literally any other player in the league, you have to jump at that opportunity.

And the crazy thing is that Matthews might still be slightly underpaid. There's a legitimate argument to be made that Matthews is one of a few players that should make closer to $16-18 million a year. Alas, that's just not viable in the NHL at the moment. Especially in a flat-cap environment.

That said, was it wise for Matthews to forego NHL Free Agency? The salary cap is expected to jump up next summer and for the next few seasons. Matthews could have hit the open market and received that $16-18 million amount from someone.

Regardless of any speculation. Matthews does well here. I'm sure someone who has already made nearly $53 million in his career, at least according to CapFriendly, is not going to lose sleep over an extra $3 million per season. He's playing where he wants to play and making a ton of money. It's a win-win for him.

Maple Leafs pay Auston Matthews

For the Maple Leafs, this had to happen, didn't it? Toronto is under a lot of pressure to win a Stanley Cup. It's hard not to have this pressure on them considering the type of talent on the roster. Keeping Matthews around past 2024 was a major priority because their chances at a Cup are noticeably lower without him.

Beyond that, this extension doesn't necessarily handicap them for the future in a financial sense. Outside of Matthews, only Morgan Rielly is owed a significant amount of money past this season. They have some flexibility moving forward.

However, the Maple Leafs also have a rather pressing issue on hand here. Both William Nylander and Mitch Marner are due for extensions in their own right. If Brad Treliving is keen on keeping both, then they'll need to invest significant money into both players.

That's an issue the Maple Leafs can deal with when the time comes. For now, they kept Matthews around and, while paying him a ton of money, can still maneuver around after this season. The only major downside is the team's inability to extend him for a longer term.

Grades and final thoughts

Both the Toronto Maple Leafs and Auston Matthews receive high marks for the work they do here. Matthews becomes the highest-paid player in the entire NHL. And he remains in a market he has thrived in thus far. The Maple Leafs, meanwhile, keep one of the best players in the league around and keep their Stanley Cup window open just a bit longer.

Auston Matthews grade: A+

Toronto Maple Leafs grade: A