Although he has a no-trade clause, the 6'6, 230 pound righty could be intrigued with being reunited with Craig Berube who he won a Stanley Cup with in 2019. Parayko certainly fits the bill of a Treliving - Berube type of defenseman with his size, reach and physicality and would bring something to the Leafs' defensive group that they have longed for.
While the Leafs would get some cost-certainty for the next six seasons and not have to worry about being out-bid in free agency, the assets they would have to give up would further deplete their small prospect and draft pick pool.