In the 2015–16 season, Laich's offensive production rapidly declined, while his $4.5 million cap hit stuck out as one of the only adverse aspects of a league-leading Capitals squad. On February 27, 2016, the Capitals placed Laich on waivers for the purpose of sending him to the Hershey Bears of the AHL. The following day, on the eve of the trade deadline, Laich, along with Connor Carrick and a second round selection (Carl Grundström) in the 2016 draft, were traded to the Toronto Maple Leafs, his boyhood team, in exchange for Daniel Winnik and a fifth round pick (Beck Malenstyn) in the 2016 draft. The purpose of the trade was to give the Capitals salary cap relief to use toward younger core player contracts that needed re-signing the following off-season. Capitals GM Brian Maclellan called the trade, when asked, the hardest thing he had done as General Manager of the team. Laich had been the longest tenured active professional Washington-area athlete at the time of the trade, concluding his service of 12 years with the franchise. In what easily stands as the most emotional trade in Capitals history since Laich was dealt to Washington in a package for Peter Bondra, one journalist wrote "It's ironic that money is what ultimately forced the Caps to move Laich. This is a guy who loves the game so much, he'd probably play for free."