LAS VEGAS (July 1, 2025) — The Vegas Golden Knights have landed one of the NHL’s premier talents in a headline-grabbing sign-and-trade deal, acquiring Mitch Marner from the Toronto Maple Leafs and immediately locking him into an eight-year, $96 million contract, the maximum allowed under league rules.
Marner, 28, was the crown jewel of this year’s free agency class, and Vegas wasted no time ensuring he never hit the open market. The deal carries a $12 million average annual value (AAV), making Marner the highest-paid player on the Golden Knights and a cornerstone of their franchise moving forward.
Trade Details
Toronto receives center Nicolas Roy in return for Marner’s rights. Roy, also 28, is entering the fourth year of a five-year, $15 million contract and brings a strong two-way presence to the Maple Leafs’ forward corps.
Marner’s Path to Vegas
The Maple Leafs, aware that Marner intended to test free agency, began negotiations with Vegas in the final days of their exclusive window. With Vegas as Marner’s preferred destination, Toronto cooperated to ensure a return rather than lose him for nothing. The sign-and-trade format also allowed Marner to secure an eighth year on his deal — something not possible if he had entered free agency outright, where the max is seven years.
Marner was originally selected fourth overall in the 2015 NHL Draft by his hometown Maple Leafs. Over nine seasons, he developed into one of the league’s most consistent and creative forwards, tallying 221 goals and 741 points in 700 career games. He posted a career-high 102 points last season, ranking fifth in the NHL and leading all impending free agents by a wide margin.
Golden Knights Cap Maneuvering
To facilitate the move, Vegas cleared space by trading defenseman Nicolas Hague to the Nashville Predators. Further flexibility could come via Alex Pietrangelo, who is expected to begin the 2025–26 season on long-term injured reserve, per sources.
The Marner deal signals Vegas’ continued all-in mentality. After lifting the Stanley Cup in 2023, the Golden Knights remain aggressive in pursuit of another championship. Center Jack Eichel, who has one year remaining on his deal ($10M AAV), is eligible for an extension, and sources indicate that talks could heat up later this summer.
Maple Leafs’ Busy Week
Toronto, meanwhile, has been active in reshaping its roster. GM Brad Treliving re-signed veterans John Tavares and Matthew Knies earlier this week and added forward Matias Maccelli from Utah in a separate trade. The addition of Roy gives Toronto cap flexibility and a reliable center to solidify its middle six.
The Bigger Picture
Marner’s move continues a growing trend in the NHL, where sign-and-trade arrangements are becoming a strategic tool for teams facing cap constraints. It mirrors last season’s deal that sent Jake Guentzel from Carolina to Tampa Bay just before free agency began.
Now a Golden Knight, Marner joins a star-studded roster with eyes on another deep playoff run. Vegas, known for its bold moves since entering the league in 2017, just made another franchise-defining splash.
