A star winger on the move. A star goaltender and sniper staying put.
NHL general managers were hard at work before and after the league's annual free agency sprint began Tuesday.
And once the market opened, unlike years past, the pickings were fairly slim.
The biggest news came some three hours before the opening bell when it was announced pending unrestricted free agent Mitch Marner had inked an eight-year, US$96-million contract with the Maple Leafs and was then immediately shipped to the Vegas Golden Knights in a sign-and-trade deal that ended his time in Toronto.
The 28-year-old winger, who grew up just north of the city and had a full no-movement clause in his contract, spent nine roller-coaster seasons with the Original Six franchise that included memorable moments — along with plenty of heartache.
"He controlled the process," said Leafs general manager Brad Treliving, who tried to re-sign and then trade the player during the 2024-25 season. "That's really where we got to."
Marner, fairly or not, bore the brunt of fan anger for Toronto's playoff failings that saw the club win just two of 11 series as part of a so-called "Core 4" of talented forwards that included Auston Matthews, John Tavares and William Nylander.
The Thornhill, Ont., product selected No. 4 overall at the 2015 draft registered four 90-point seasons — he hit a career-high 102 this past campaign — but was unable to raise his level in the playoffs.
"I gave everything I had, but in the end, it wasn't enough," Marner wrote in a farewell Instagram post. "That's hard to admit, because I wanted it so badly, for all of us."
The Leafs also confirmed they signed winger Matthew Knies on a six-year, $46.5-million term — a deal that was widely reported over the weekend.
"A big piece of business for us," Treliving said of the pending restricted free agent. "Just scratching the surface in terms of what he's capable of."
The Vancouver Canucks, meanwhile, re-signed netminder Thatcher Demko to a three-year, $25.5-million contract extension before a surprise turn of events, as scoring winger Brock Boeser stayed put on a seven-year, $50.75-million deal after it looked like he would be heading out of town as a UFA. The club is also keeping forward Conor Garland on a six-year deal worth $36 million.
Boeser remaining on the West Coast was an example of a team doing the calculus in a shrinking market for top-end players with the NHL's salary cap set to jump significantly over the next three seasons — $95.5 million in 2025-26, $104 million in 2026-27 and $113.5 million.
"There's not a lot of players available," Canucks general manager Patrik Allvin said. "Commitment to term and dollar is always a fine balance."
The two-time defending Stanley Cup champion Florida Panthers were able to keep their big three pending unrestricted free agents in centre Sam Bennett, forward Brad Marchand and defenceman Aaron Ekblad in the days before July 1.
"We know what kind of hockey team they are," said Treliving, whose Leafs lost to the Panthers in seven games in the second round. "They've been to the final three years in a row, won the last two. They're not going anywhere any time soon.
"We're not in their meetings, but when we look from afar, the anticipation was that those guys would be back."
The Carolina Hurricanes signed forward Logan Stankoven to an eight-year, $48-million contract extension that kicks in for the 2026-27 season, while the New York Rangers inked defenceman Vladislav Gavrikov to a seven-year, $49-million deal.
The Edmonton Oilers traded winger Viktor Arvidsson to the Boston Bruins for a fifth-round pick in the 2027 NHL draft.
The Philadelphia Flyers added former Montreal Canadiens centre Christian Dvorak on a one-year contract worth $5.4 million after also nabbing goaltender Dan Vladar from the Calgary Flames on a two-year, $6.7-million deal.
Mikael Granlund signed with the Anaheim Ducks on a three-year, $21-million deal.
The Los Angeles Kings added defenceman Cody Ceci (four years, $18 million), former Ottawa Senators goaltender Anton Forsberg (two years, $4.5 million) and former Oilers winger Corey Perry (one year, $2 million).
Montreal got in on the action, dealing defenceman Logan Mailloux to the St. Louis Blues for forward Zack Bolduc. Calgary signed blueliner Joel Hanley to a two-year extension worth $1.75 million per season. The Senators re-signed Nick Cousins for one year at $825,000 and added fellow forward Lars Eller on a one-year term that could be worth as much $2.25 million.
The Utah Mammoth inked former Winnipeg Jets winger Brandon Tanev to a three-year, $7.5-million agreement.
The Boston Bruins signed bruising forward Tanner Jeannot to a five-year, $17-million deal, while the New Jersey Devils added winger Connor Brown (four years, $12 million) and kept backup netminder Jake Allen (five years, $9 million).
"There wasn't as much pressure financially," Treliving said of the league's Canada Day dash. "With the cap rising, I think it gave everybody more salary cap space to retain their own players … if you're one of those teams that has a top-6 forward, and you're not going to sign your own guy, you're looking at the same list.
"It really steers you to a point where the anticipation was a lot of those guys were going to sign back with their teams, which ended up happening."
This report by The Canadian Press was first published July 1, 2025.
Joshua Clipperton, The Canadian Press
