While Keon was not selected for Team Canada, the Ottawa Nationals of the World Hockey Association made a strong effort to sign Keon, whom they had placed on their negotiation list earlier that year. Harold Ballard, who had become the Leafs' majority owner in March 1972, said that Keon did not provide the leadership the team needed during the previous season and was refusing to give Keon a big salary increase after a poor year. Keon signed a letter of intent with the Nationals, and received a $50,000 cheque from the team, but the deal fell apart just before training camp. Keon signed a three-year deal with the Leafs, and rebounded strongly in 1972–73, scoring 37 goals. On November 22, 1972, he scored his 297th goal as a Leaf, passing Armstrong and Frank Mahovlich to become the team's all-time leading goal scorer.