It's a catch 22.
Ritchie is obvious, but after that it really gets difficult.
Not really all that difficult. Go cheaper on the #7 to open up money for Sandin/Liljegren. Leafs will have a specific ceiling on Campbell. If he wants to go for top dollar like Hyman did, then they likely turn to Holtby, Fleury, or Kuemper... Who should be within their budget.
Then it is just deciding who they want to fill their bottom 6 and maybe Kerfoot. The 4th line job likely is a competition among our prospects (Anderson, Malgin, Steeves, Holmberg, Robertson, Amirov, etc.) and maybe some AAAA guys we sign like Seney was this year. Engvall and Kase should not get major raises, and I think Kase wants to stick around with Kampf anyways. If Engvall wants more than 1.5 mill, we can easily replace him with someone else. Engvall - Kampf- Kase is your 3rd line. Simmonds - Spezza - Prospect is your 4th line.
We move Ritchie and Dermott/Holl in this case. We may still need some more money, which likely comes from making one of the following choices:
1) Move Kerfoot
Moving Kerfoot sucks because he has been a solid all-around guy for us on the PK and in the top 6, but he is a pending UFA who is likely moving on after next year and we would get something good out of him. If we move him, we could turn to a guy like Kuzmenko in the top 6 and save a lot of money, or maybe turn to re-signing Mikheyev (if he is willing) and giving him the top 6 job. Mikheyev likely won't make more than mid-2's on his next deal so it should open up enough money.
2) Move Mrazek
It won't be hard to find a market for him given the lack of quality goalie options this year, but at the same time, the UFA market for who are not major downgrades won't save us a lot of money and I can see the Leafs preferring to take a chance on replacing Kerfoot over replacing him.
3) Replace a guy like Engvall with a cheaper player and use Dermott instead of Holl.
More moving parts, and it depends on how much faith the Leafs still have in Dermott moving forward. You could replace Engvall with either a prospect, bargain bin guy like Bunting, or a guy like Kuzmenko (who could slot in Kerfoot's spot with Kerfoot moving to the 3rd line with Kampf and Kase). That and the 500k difference between Dermott and Holl should be enough to afford everyone.
All in all, it boils down to three subtractions + losing Mikheyev which should not be overly difficult to make, and then just making sure you stick to your budget, even if it means having to move on from a guy like Campbell unfortunately. This is likely the roadmap the Leafs have laid out for themselves, short of a more drastic, longer shot move being considered (i.e. moving Marner).