The 2025 NHL Draft continues to dominate headlines, and one storyline is quickly gaining momentum off the draft floor: the potential blockbuster trade involving Mitch Marner and the Vegas Golden Knights.
Marner’s future in Toronto has been up in the air for months, but now, with serious negotiations reportedly underway, a sign-and-trade scenario may be the next major move in the NHL offseason.
Vegas Golden Knights Eye Mitch Marner in Potential Sign-and-Trade Deal
The Toronto Maple Leafs and Vegas Golden Knights are in discussions regarding a sign-and-trade deal that could send superstar winger Mitch Marner to Vegas, according to Sportsnet’s Elliotte Friedman. This development follows months of speculation surrounding Marner’s future in Toronto, which now looks increasingly uncertain.
Marner, who holds a full no-movement clause, would need to approve any deal, including one involving the $1.85 billion-worth Golden Knights. However, by agreeing to a sign-and-trade, the 28-year-old forward would be eligible to sign an eight-year contract, one year more than he could receive on the open market if he were to hit unrestricted free agency on July 1. That extra year could be a major incentive in finalizing a deal.
Friedman’s report suggests Vegas may offer forward Nicolas Roy as part of the package in exchange for Marner.
I believe Nic Roy will be going to Toronto if this gets done https://t.co/lWRgGg60jn
— Elliotte Friedman (@FriedgeHNIC) June 28, 2025
While Roy is a skilled and versatile player, it’s clear the centerpiece of the trade would be the opportunity for Vegas to land a franchise-caliber talent in Marner, a player who notched a career-high 102 points, including 75 assists, during the 2024-25 regular season.
This isn’t the first time the Leafs and Golden Knights have explored a potential Marner trade. Talks reportedly took place last offseason, but the deal fell apart when Toronto asked for top defenseman Shea Theodore in return.
At the time, the request was viewed as too steep, and the conversation fizzled. However, with Marner now a year closer to free agency and the Leafs signaling a shift in direction, trade talks have resurfaced with more urgency.
🚨BREAKING: The Maple Leafs and Golden Knights are in the midst of trade discussions that would send Mitch Marner’s rights to Vegas. Nicolas Roy is likely to be part of the return, with Marner expected to sign a deal in the ballpark of 4×$12M.#LeafsForever pic.twitter.com/QdKgGRNGit
— Leafslatest (@Leafslatest) June 28, 2025
Toronto general manager Brad Treliving has publicly hinted that Marner may not return to the Maple Leafs next season. During media availability before the draft, Treliving said it was “unlikely” Marner would be back in a Leafs uniform, all but confirming the organization is preparing for life without one of its most dynamic offensive players.
Marner’s departure could reshape Toronto’s roster strategy, especially after John Tavares agreed to a new four-year, $17.52 million contract extension earlier this week. The Tavares deal, with a notably team-friendly $4.38 million annual cap hit, opens up space for the Leafs to add depth, possibly signaling a desire to restructure the team’s core.
Despite his regular-season success, Marner faced criticism during the playoffs. He tallied 13 points in 13 games but couldn’t lift Toronto past the second round, where they were eliminated by the Florida Panthers. The playoff disappointment may have pushed the Leafs’ front office closer to accepting that a breakup with Marner is inevitable.
If the deal with Vegas is completed, it would give the Golden Knights yet another high-caliber scorer to add to their potent lineup, strengthening their case as perennial Stanley Cup contenders. For Toronto, parting with Marner would be a significant shift, but it may be a necessary one to improve overall roster balance and long-term cap flexibility.
With the draft underway and free agency looming, a decision could be imminent. All eyes now turn to Vegas and Toronto, as both franchises weigh one of the biggest potential trades of the NHL offseason.
