The Vegas Golden Knights are in trade talks with the Toronto Maple Leafs to acquire pending unrestricted free agent Mitch Marner, according to multiple reports.
Though Vegas and Marner have been linked for some time, the speculation appears to be picking up steam.
It is still unclear whether Vegas will acquire the rights to sign Marner prior to free agency (Tuesday at 9 a.m. PT) or whether the two clubs will arrange a sign-and-trade. The latter would allow the Golden Knights to sign Marner for a maximum-length eight-year deal, an option that would not be available if Vegas ends up signing him directly (either after landing his rights or via free agency).
The Golden Knights will need to make at least one move to help accommodate Marner’s hefty contract. Though many Vegas players have been mentioned as possible trade candidates, the latest buzz suggests that Nicolas Roy — and his $3 million cap hit — might be part of a package going back to Toronto.
I believe Nic Roy will be going to Toronto if this gets done https://t.co/lWRgGg60jn
— Elliotte Friedman (@FriedgeHNIC) June 28, 2025
However, other names are circulating as well, including defenseman Nicolas Hague, who will be a restricted free agent on July 1.
After signing Reilly Smith and Brandon Saad to one-year, $2 million deals, the Golden Knights have $5.615 million of cap space, according to PuckPedia.
Assuming Roy’s $3 million AAV comes off the books, the Golden Knights would have $8.615 million.
If Alex Pietrangelo ($8.8 million AAV) ends up moving to LTIR, that would free up additional cap space, leaving enough room for Vegas to sign Marner and add one or two additional pieces. But Pietrangelo’s status remains up in the air.
“We’re going to know more on that in the coming days,” Golden Knights general manager Kelly McCrimmon said in his media availability following the 2025 NHL Entry Draft.
After being held scoreless in the final two games of the playoffs, the Golden Knights are in the market for an elite offensive talent, and Marner seems to be the target of choice for Vegas.
Marner, originally drafted fourth overall in the 2015 NHL Entry Draft, has exceptional creativity and playmaking ability. The skillful 28-year-old has 221 goals and 741 points in 657 career games with Toronto, and he is coming off a career-best 102-point campaign after lighting the lamp 27 times and adding 75 helpers, also a personal best.
Despite his skill, Marner’s time in Toronto has been turbulent, primarily due to the team’s inability to win in the playoffs. Marner’s playoff compete level has been a frequent topic of discussion, particularly given the discrepancy between his production in the regular season and postseason. This is especially true for his goal-scoring. He was a point-per-game player in the 2025 playoffs with two goals and 13 points in 13 games, but he has never scored more than three goals in a single postseason.
Though the door hasn’t been completely closed on Marner returning to Toronto, the writing seems to be on the wall for an offseason departure. He declined to waive his no-movement clause for a deadline deal that would have sent him to Carolina, and Toronto general manager Brad Treliving announced earlier this week that Marner will test the free-agent market.
Speaking to reporters after the draft, Treliving indicated that Toronto would prefer not to lose Marner for nothing.
“I’m not going to comment,” he said. “I think you’d always like to get something [back], right? That’s not always the case, but that’s as far as I want to get into it. We’ll see how things go.”
But nothing is expected to be finalized on Saturday, according to TSN’s Darren Dreger, who was the first to report the potential sign-and-trade.
That being said, it seems more and more likely that Marner will make his way to Sin City, one way or another.
Reportedly, the Golden Knights also tried to trade for Flames defenseman Rasmus Andersson earlier this week but were unable to make it work.
Vegas also made an attempt to trade for Rasmus Andersson this week. But could not get it done
— Elliotte Friedman (@FriedgeHNIC) June 28, 2025
2025 NHL Entry Draft
Vegas added four players to the organization on day two of the 2025 NHL Entry Draft, selecting Jakob Ihs-Wozniak (No. 55), Mateo Nobert (No. 85), Alex Weiermair (No. 186) and Gustav Sjoqvist (No. 187) in the second, third and sixth rounds, respectively.
