It was also the 40th anniversary season of the opening of Maple Leaf Gardens.
The Maple Leafs finished fourth, and qualified for the playoffs, losing in the first round to the eventual Stanley Cup champion Boston Bruins.
In June, team president Stafford Smythe and vice-president Harold Ballard were arrested for theft and fraud involving funds of Maple Leaf Gardens.
[1] On October 13, just after the start of the season, Smythe died of complications from a bleeding ulcer.
[4] The Maple Leafs have been involved in the following transactions during the 1971–72 season.