Various prospects/picks/plugs could fill this out to balance it (possibly salary retention), but how about this for a starting framework:
To Toronto:
McDavid
a good value defenseman or prospect that is very close - not sure who best fits that bill from either team
To Arizona:
Matthews
Lucic (less real $$ than AAV)
To Edmonton:
OEL
Nylander
Edmonton gets the privilege of overpaying another young forward who has been propped up by playing beside/behind generational talents, while dumping a boat anchor contract. Their defence would pretty quickly become pretty decent by parachuting in a legit #1, and everyone else could play in the slot they actually belong.
Toronto is giving up the most, but also getting the best player in the deal. If the Matthews vs. Babcock tension is legit, it resolves that, and gives cost certainty going forward (maybe they could keep Matthews signed to an 11M Tavares limit, but McDavid is probably worth the extra 1.25). Not saying Matthews is injury-prone, but it is at least a little concerning. Otherwise it's flipping Nylander into futures/a cheap defensemen, which is the likely outcome anyways.
Arizona pushes their chips into the middle and brings the prodigal son home. Creates a big hole in defence, but they have enough forward pieces to flip and fix if needed. It basically turns their team into Edmonton's structure for the last decade, but it might not be so bad since they don't have quite the same culture of false-hope and unrealistic expectations. They have to take on Lucic, but otherwise they're flipping OEL for Matthews, which is pretty much a no brainer.
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