If you haven't read our story on Wayne Gretzky being ever so close to becoming a Leaf, go do so now. It is a good companion piece to this one, that will give you the context of how the Leafs operated in the late 1990s.
Here's the basic background: Gretzky wanted to sign with the Leafs as an unrestricted free agent in 1996. Then-GM Cliff Fletcher had a deal in place, but it was nixed by ownership. While no clear reason was ever given, the most logical explanation was that owner Steve Stavro, having to juggle financing the construction of a new arena (the Air Canada Centre) and stop the hemorrhaging of his Knob Hill Farms grocery chain, wanted to cut costs.