I would agree that JT has very little leverage here, and when I say very little, I actually mean none.
It's the Steven Stamkos situation, but inverted. He's already entered his winding it down family years in the city of his choosing, and has made his big big bucks but hasn't won. He has no need to "go to Nashville" financially, and if he wants to come back, it should be to actually be team friendly.
Plus he's not really a sentimental favorite, so if the team crashes and burns yet again, it will be all too easy to take his $11 million and throw it at something flashier. He would be the first cut in a summer of mandated change.
Anyway, I don't think it should be a 3 year $7 million AAV for $21 million. I'd almost be inclined to flip it around and say $3 million at 7 years instead, ride off into the sunset when you want to but have a piece of paper tying you to Toronto, or some combination of $21 million spread out over more years. He's just squeaking in at 35 and under this July 1. I don't think he'll be making serious money in 3 years time.