Notable NHL Trades and Signings – June 30, 2025
Notable NHL Trades and Signings – June 30, 2025
The Toronto Maple Leafs signed winger Mitch Marner to an eight-year, $96 million contract ($12 million average annual value. They subsequently traded him to the Vegas Golden Knights for center Nicolas Roy.
SPECTOR’S NOTE: And with that, Marner’s nine seasons with the Maple Leafs come to an end.
Marner was projected to receive between $12.5 million and $13 million annually. It’s a little less than market value, but it comes with long-term security.
It’s a good deal for Marner, and he ends up in a preferred destination. The 28-year-old winger is coming off a career-best 102-point performance. He’s in his prime and considered among the league’s elite two-way forwards. Whether this is the right deal for the Golden Knights remains to be seen.

Toronto Maple Leafs sign winger Mitch Marner and trade him to the Vegas Golden Knights (NHL Images).
Marner brings additional offense to the Golden Knights and should also help defensively. However, this leaves the Golden Knights top-heavy among their top-six forwards at the expense of their overall roster depth. That should be a familiar situation for Marner, having been part of a similar experience with the Leafs for years.
Snark aside, a lack of overall depth prevented the Golden Knights from repeating as Stanley Cup champions over the last two seasons. Marner’s monster contract will once again leave them with limited cap space, forcing them to try and get creative.
One way is placing veteran defenseman Alex Pietrangelo on long-term injury reserve for 2025-26, freeing up his $8.8 million AAV. However, that will be used up mostly for Marner’s cap hit, leaving little wiggle room to boost their depth.
As for the Leafs, they at least get something for Marner rather than losing him to free agency for nothing. Roy, 28, is a big, physical middle-six forward who can play center or wing with two years on his contract at an annual cap hit of $3 million. He’ll provide size, versatility, and experienced skill to their checking lines.
The Edmonton Oilers have signed defenseman Evan Bouchard to a four-year contract with an average annual value of $10.5 million. Bouchard, 25, was slated to become a restricted free agent on July 1.
SPECTOR’S NOTE: Bouchard’s getting a significant raise over the $3.9 million AAV of his previous contract. It’s not surprising given how he’s blossomed into a high-scoring puck-moving blueliner.
Bouchard netted a career-best 82 points in 2023-24. His production slipped to 67 points in 2024-25, but he was fifth among defensemen in scoring. He also led all blueliners in postseason scoring this year with seven goals and 23 points.
The Oilers had little choice but to pay Bouchard that much, though at four years it’s a manageable term if his performance drops off. However, they now have nearly $20 million tied up in two defensemen, with Darnell Nurse pulling in $9.25 million annually through 2029-30. It leaves the Oilers with around $550,000 in cap space, which means a cost-cutting trade is coming soon.
The Florida Panthers re-sign Aaron Ekblad to an eight-year contract with an average annual value of $6.1 million.
SPECTOR’S NOTE: Ekblad made no secret of his desire to remain with the Panthers. It was assumed he’d have to accept a pay cut on a contract shorter than the eight years ($7.5 million AAV) of his previous deal.
Instead, he gets another maximum eight-year contract with a pay reduction that wasn’t as severe as expected.
The Panthers rewarded Ebklad for not only his loyalty but his years of hard work as the anchor of their defense corps, culminating in back-to-back Stanley Cup championships. However, this is a contract that probably won’t age well.
Now 29, Ekblad has been hampered by injuries since 2020-21, and his performance declined a bit in 2024-25. If this persists, this deal could become a salary-cap headache down the road.
The Detroit Red Wings trade winger Vladimir Tarasenko to the Minnesota Wild for future considerations.
SPECTOR’S NOTE: Tarasenko signed a two-year contract last summer with the Red Wings, but things didn’t work out for him in Motown. After netting 23 goals and 55 points in 2023-24 with the Ottawa Senators and Florida Panthers, the 33-year-old winger managed only 11 goals and 33 points with the Wings.
The Toronto Maple Leafs acquire winger Matias Maccelli from the Utah Mammoth in exchange for a conditional third-round pick in 2027.
SPECTOR’S NOTE: A skillful playmaking winger, the 24-year-old Maccelli had a career-best performance in 2023-24 with 17 goals and 40 assists for 57 points. However, his production dropped significantly last season as he tumbled down the Mammoth’s depth chart, becoming a healthy scratch in 26 regular-season games. This could turn into a steal for the Leafs if Maccelli regains his form.
The New York Islanders signed defenseman Alexander Romanov to an eight-year contract with an average annual value of $6.25 million. Romanov, 25, was slated to become a restricted free agent on July 1.
SPECTOR’S NOTE: This was a foregone conclusion after the Islanders traded Noah Dobson to the Montreal Canadiens on Friday. Romanov’s deal makes him their highest-paid defenseman. He’s not a point-producer like Dobson, but he’s a physical shutdown blueliner who logged over 22 minutes of ice time per game last season.