The Golden Knights fell short of the Western Conference Final for the second consecutive year in 2025, but an offseason splash has them position to contend for a championship again in 2026 and beyond.
After days of rumors, Vegas finalized a sign-and-trade for Maple Leafs star Mitch Marner, as first reported by TSN’s Darren Dreger, pulling the winger right off the market on the eve of NHL free agency and bringing him west in a move that breaks up Toronto’s core after repeated playoff failures.
While Marner’s contract extension has reportedly been agreed to by the Golden Knights via Toronto, the deal was still pending the trade call Monday and is not yet finalized.
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Marner, who recorded his first 100-point season in 2024-25 after multiple close calls, just turned 28 in May and is looking to be both an immediate and long-term offensive upgrade for the Golden Knights.
Here are the details on Marner’s move to Vegas and how the Golden Knights executed the deal amid rumors of tampering.
MORE: Follow live NHL free agency updates
Mitch Marner trade details
Golden Knights receive:
Maple Leafs receive:
The Golden Knights will acquire Marner from the Maple Leafs in exchange for veteran forward Nicolas Roy, according to NHL insider Bob McKenzie. The deal is a one-for-one player swap, giving Vegas the rights to Marner before he hits the open market.
Marner, 26, is one of the NHL’s most dynamic young playmakers. His free agency sweepstakes was poised to be the most hyped since John Tavares signed with Toronto in 2018.
However, for reasons that remain murky, the Golden Knights managed to leapfrog Marner’s other would-be bidders by acquiring him in a sign-and-trade hours before free agency begins. Such a scenario allowed Toronto to recoup some of its losses, but the trade return as reported will do little to assuage concerns about shady dealings (more on that below).
Mitch Marner contract details
- 8 years
- $96 million (12M AAV)
The Golden Knights and Marner have agreed to an eight-year contract worth $96 million ($12 million per year), making him the fifth-highest paid player in the NHL in terms of average annual value.
MORE: The NHL’s 25 highest-paid players for 2025-26
Mitch Marner sign-and-trade, explained
Trades are often used as a way for a particular team to get a jump on the free agent market and acquire a player’s rights before he hits free agency in the NHL. In the case of a sign-and-trade, the acquiring team simultaneously works out a new contract with the player to prevent him from hitting free agency altogether.
By sending assets to the Maple Leafs, the Golden Knights avoided competing with other teams on the open market and exclusively worked out a deal with Marner. Last year’s top free agent, Jake Guentzel, was the subject of a similar move when the Lightning acquired his rights from the Hurricanes and agreed to a fresh seven-year deal shortly after.
MORE: Ranking the top 20 NHL free agents
Did the Golden Knights tamper with Mitch Marner?
SportsNet’s Elliotte Friedman reported before the start of free agency that the Maple Leafs were concerned that the Golden Knights tampered with Marner while he was still under contract in Toronto.
“There’s been some talk that if Marner goes to Vegas, the Maple Leafs will go after Vegas for tampering,” Friedman reported, but he added that a sign-and-trade would likely end any chance of Toronto actually filing a report against Vegas, given both sides worked out a deal to their liking.
Teams can’t negotiate with outside free agents until the annual start of free agency on July 1, but numerous free agents have signed in the hours or even minutes after the start time in recent years. Noticing a problem, the NHL reminded teams of the tampering rules in late 2024, and Friedman reports the league is “itching to try and make an example out of someone.”
The Golden Knights have received criticism in the past for what some believed was salary cap manipulation by placing players on long-term IR and activating them for the playoffs, so a tampering charge against Vegas would be one more controversy for the NHL’s second-youngest franchise.
