This all might sound eerily familiar:

Last offseason, the Maple Leafs were relatively inactive in the free-agent market. And when goaltender Curtis Joseph left Toronto for the Red Wings (for less money but what he called a better chance at the Cup), many wondered if replacement Ed Belfour would fit the bill.

CuJo was a fan favorite who had carried Toronto to the Eastern Conference finals. Belfour was an unmistakable risk after a subpar season with the Stars.

2002-03 BY THE NUMBERS

Record: 44-28-7-3, 98 pts. (9th overall, 4th East, 2nd Northeast); Home: 24-13-4-0, Road: 20-15-3-3 Goals for/Avg.: 236/2.88 (8th overall) Goals against/Avg.: 208/2.54 (T10th overall) Differential: Plus-28 (9th overall). Power play: 17.5 percent (63-359, 11th overall) Penalty kill: 86.9 percent (370-426, 3rd overall) 20-goal scorers: Mats Sundin (37), Alexander Mogilny (33) 50-point scorers: Mogliny (79), Sundin (72)

But slowly, the 37-year-old Belfour won over the Leaf faithful. Rebounding from that 21-27-11 outing in 2001-02, Belfour went 37-20-5 in his first season in Toronto and lowered his goals-against average to 2.26.

The Leafs were back in business, and back in the playoffs -- only their first-round opponent was the Flyers. The series turned out to be arguably the most physical and most grueling of the postseason. It boasted three extra-session games, including Belfour's 72-save effort in Game 4 and Toronto's 2-1 double-overtime win in Game 6. But with no off day before Game 7, Belfour and the Leafs ran out of gas in a 6-1 rout. It was the first time in four seasons Toronto did not make it past the first round.

And while no one could "blame" Belfour, it still left plenty of questions and skepticism in a hockey-rich city that hasn't brought home a Stanley Cup since 1967.

But even with the reality of the collective-bargaining agreement looming, this offseason provided a free-agent crop that the payroll-rich Maple Leafs were sure to take advantage of at least once. Right?

Ringing a bell yet?

Sergei Fedorov, Derian Hatcher, Paul Kariya, Todd Marchant and Teemu Selanne -- the top free agents available this season -- have all signed. None are wearing a Maple Leafs sweater.

The problem wasn't lack of money, but disorganization in the front office that eventually trickled down to the team's ability to make moves -- Pat Quinn relinquished his general manager duties, and Ken Dryden stepped aside as team president for a vice-chairman role in the Maple Leaf Sports and Entertainment group in late June.

There are now reports that Quinn, who signed a three-year contract extension in January 2002, might return to the GM role.

The reason? The Leafs' search, which MLSE president Richard Peddie called the search for "the next great general manager," hasn't seriously begun. And Quinn has made it clear the team is done with the free-agent market. That's too bad -- another Ontario boy, Joe Nieuwendyk, wanted to come home for the Blue.

But for whatever reason (Leafs fans, fill in the blank here), Toronto does not want to spend big -- the Leafs' payroll hovered around $54 million last season, seventh in the NHL.

The Maple Leafs instead added Bryan Marchment, signing the veteran defenseman (and Toronto native) to a one-year, $2 million contract Friday. With Robert Svehla seriously contemplating retirement, and Glen Wesley, who signed a one-year deal with Carolina, out of the picture, Marchment gives the Leafs a hard-hitting defenseman. (His reputation as a tough guy also seems to fit the "cheap shot" reputation Toronto has developed.)

Marchment, 34, will join younger teammates Wade Belak (27) and Ric Jackman (25), who both re-signed, at the blue line. Rumors that the Leafs reached a tentative one-year agreement with Oleg Tverdovsky, a member of the Cup champion Devils, were just that -- rumors.

Captain Mats Sundin returns after a 72-point effort last season (37 goals, 35 assists), but depth at center ends there. Travis Green is known more for his physicality than his scoring, Robert Reichel (42 points) had his worst offensive output since he was with Calgary during the 1994-95 season and Matt Stajan is just 19 years old and has played only one NHL game. ... Where's Joe?

Alexander Mogilny, who led the team in scoring last season with 33 goals and 46 assists, also returns, and the Leafs need nothing less than the same output. Toronto is also close to bringing back Group II free agents Bryan McCabe and Nik Antropov. McCabe did not file for arbitration, and the Leafs are optimistic a contract is not far off as talks continued this week. Quinn also said he wanted to be part of the negotiations with Antropov.

Where does that leave Toronto in the Northeast Division? The Leafs will get the usual fight from both the Bruins and Senators, but right now, Toronto is in no position to consistently challenge the top-heavy East teams -- the Sens, Devils and Flyers.

That leaves the Maple Leafs fighting for a postseason spot, not all-but-clinching one by the All-Star break.

Now that would be costly.

Joy Russo is a news editor at ESPN.com.