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An expression used in sports when a team makes positive trades or acquires players which make the team a championship contender. The parade in reference refers to the Stanley Cup parade through Toronto that was planned after the Toronto Maple Leafs of the NHL acquired star forward Phil Kessel.
The phrase is often used sarcastically.
"Leafs have clinched a playoff spot!"
"Don't plan the parade yet"
Canadian slang for pilsner, a type of beer.
Old style pilly's on sale at the beer store eh bud!