A source "close to the action" told LeBrun the two sides are in a "holding pattern" right now.
With the salary cap set to jump after this season is over, the Leafs are hoping that they can take save some money for a year from Franson signing a two-year agreement.
Franson is still two years away from unrestricted free agency -- next summer he'll still be an RFA, with arbitration rights.
According to LeBrun, the Leafs' depth on the blueline hasn't forced the team's hand in trying to complete a deal sooner rather than later.
LeBrun also believes the Leafs will pitch a contract offer to UFA forward Mason Raymond, who has been skating with the Leafs on a tryout basis.