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Do offer sheets really provoke retaliation?

It’s that time of year again, where fans turn their minds to the offseason and debate how to improve their teams. Inevitably, after the free agent market is combed through and debated to death, someone wonders: could we sign a restricted free agent to an offer sheet?

Most recently and most prominently, Tyler Dellow of The Athletic laid out a creative and intriguing rationale for how the Leafs might conceivably shore up their weakest position (right defence) by issuing a very pricey one-year offer sheet to St. Louis Blues defender Colton Parayko.