Kyle Dubas has a reputation for overpaying his restricted free agents. It began with William Nylander and was followed by Auston Matthews and Mitch Marner. While Dubas has done well on the free agent market with players like Michael Bunting exceeding expectations, he still hasn't hit a Homerun with a member of his own team.
Not only is this deal slightly above market value, but it walks Engvall directly to unrestricted free agency next summer. In the past Dubas has tried to avoid paying his depth pieces, but it appears he did so to avoid Engvall heading to an arbitration ruling that the Leafs wouldn't be able to walk away from.