After discovering his shoulder injury did not require surgery, Lumme spent the 2003 off-season rehabilitating himself in Vancouver, British Columbia. Prior to the 2002–03 season, he was left unprotected for the NHL's waiver draft. With Lumme set to earn $2.75 million that season, however, he went unselected and remained with Toronto, scoring 17 points in 73 games. He played his last NHL game on April 23, 2003, registering an assist against the Philadelphia Flyers. At the end of the season, the Maple Leafs bought out the final remaining year on Lumme's contract for two-thirds of his expected $1.5 million salary.