If this is a 2 year deal, it's great.
If it's a 3 year deal, it's good to ok.
If it's a 4 year deal, it's maybe not the best, but tolerable.
Anything beyond that I suspect is soemthing they're going to regret.... and honestly, wouldn't make sense. If you're going to lock him up to a deal that takes him to 38-39, why not lock him up to 41 with some backdiving / LTIR years??
That being said assuming this comes to fruition... will be interesting to see what the Leafs do with the $8m in space remaining.