The Calder Cup Final features two teams with unique paths and two opposites in how they are run. Yet, the Chicago Wolves and Toronto Marlies are proving that in the American Hockey League, there are plenty of ways to build a great team.
The Calder Cup Final is off and running between the Chicago Wolves and the Toronto Marlies. The series highlights two great teams that are well coached and have a surplus of prospects sure to contribute to their NHL teams next season.
In the bigger picture, these two American Hockey League teams are well run from the top down. They've established a winning culture and have become great AHL affiliates for the Carolina Hurricanes and the Toronto Maple Leafs.
The fascination with these two teams is that they are built differently. It's almost like looking at the opposite extremes in this league when it comes to how teams operate, yet it works for both.
Chicago & Carolina Were At Odds For Years But Are Finally Back Together
The Wolves have a unique history with the AHL, in part because they are a proud independent team. They joined the league in the early 2000s, and it was clear they wanted to win.
This meant the Wolves would spend big to attract the best veterans in the AHL and play them more than their prospects. It worked, with the Wolves winning three Calder Cup titles. That said, it came at a cost.
They burned through NHL affiliates who wanted to see their prospects developed more. The Atlanta Thrashers, St. Louis Blues, Vancouver Canucks, and Vegas Golden Knights were all affiliated with the Wolves at some point, yet none of them lasted. Even the Hurricanes removed their partnership for a short time, creating a chaotic development scenario where they would have their prospects playing under other NHL teams' affiliates.
The Hurricanes and Wolves are back together and have been since 2024. The reunion felt forced, certainly from the outsider's perspective, as it connected all 32 AHL teams to an NHL team. The difference this time is that the Hurricanes run the hockey operations while the Wolves handle the business side. The focus is still on winning but not at the cost of developing talent. Together, they've made it work, and it shows with their success, especially this season.
Maple Leafs Invest Heavily In The Marlies
The Marlies are the opposite extreme, where the NHL team has a say in every decision. The team is owned and operated by the Maple Leafs Sports & Entertainment Group (MLSE), and the priority is to develop players who will give the Maple Leafs a chance to win their first Stanley Cup title since 1967.
Of course, many will point to this ownership group as a negative. MLSE has a lot on its plate, and with so many businesses to handle, some of them fall by the wayside. That's not the case with the Marlies.
On the contrary, the Maple Leafs invest heavily in the team. It's pivotal to have a winning team in place, not just for the market but for the future of the Maple Leafs as well. It's why they brought in Benoit-Olivier Groulx and Vinni Lettieri in the 2025 offseason. It's also how they sold Logan Shaw, a veteran who could have signed with other NHL teams, to sign a three-year deal with the Marlies to both help the team win and establish a winning culture.
The Toronto market will always prioritize the Maple Leafs. At the same time, there's a value in having another team fans can root for, an affordable option that ices a competitive roster.
Lessons For The Rest Of The League
The AHL is split into two groups. The teams that are owned and operated by their NHL affiliates and the independently owned ones who happen to be affiliated with an NHL team.
Likewise, every AHL team falls into three groups. The ones that win to win first and develop second. The teams are feeling it out and deciding whether they'll make a push for a Calder Cup or focus on development. Then the teams that are solely focused on development.
There's no correct way to run an AHL team. That said, the teams that spend big are often rewarded both on and off the ice. Moreover, the teams that prioritize winning are better off in the long run. Yes, the Marlies are likely a team that falls in the "feel it out category," but they focused on winning, and it's helped their prospects. Many of the young players have taken a step forward in their development with this playoff run, and it shows. This Final showcases the benefits of a competitive team and what it will do for the NHL teams down the road.