Rumors continue to swirl around Toronto Maple Leafs winger Mitch Marner and his uncertain future with the team. A very public rumored deal between Toronto and Carolina that Marner shot down was heavily discussed at the deadline by fans and media. However, a new report suggests that there were also trade talks last season that would have involved the Vegas Golden Knights, with Vegas being the team to land Marner.
According to Sportsnet’s Elliotte Friedman and The Athletic’s James Mirtle, the Golden Knights were involved in a nearly completed three-team blockbuster trade ahead of the 2025 NHL Trade Deadline. The proposed deal would have sent Marner to Vegas, with Carolina’s Mikko Rantanen heading to Toronto. Carolina was reportedly the third team involved, although the specifics of what the Hurricanes would have received remain unclear.
Mirtle wrote in a recent article:
“But, according to league sources, there were also discussions around a Marner-to-Vegas transaction before the trade deadline this year, a move that would have involved the Hurricanes in a three-way deal. Theoretically, the Leafs would have received Mikko Rantanen while the Golden Knights got Marner and sent something to Carolina.”
The deal ultimately fell apart, reportedly due to Vegas and Carolina being unable to agree on the asset exchange. Nevertheless, the fact that these talks got close suggests that Vegas is serious about acquiring Marner this offseason via free agency or a trade to acquire his rights.
Marner is a pending unrestricted free agent as of July 1. While Toronto has not publicly closed the door on an extension, growing speculation suggests that he will test the market and secure a deal that will pay him more than $13 million per season. Vegas is reportedly interested, but they would need to do some roster reshaping first.
Adding a player of Marner’s caliber would require the Golden Knights to shed significant salary. One name emerging in trade speculation is long-time fan favorite William Karlsson.
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Karlsson, an original Golden Knight and key part of their 2023 Stanley Cup run, carries a $5.9 million cap hit through 2026. While he’s been a cornerstone of the franchise, Vegas has shown in the past that loyalty to roster originals is not its strong suit, and a public perception rarely stands in the way of bold moves.
This three-team blockbuster involving Mitch Marner, Mikko Rantanen, and the Golden Knights would have offered intriguing upside for all involved.
For Toronto, acquiring Rantanen would have given Auston Matthews a formidable wing partner with size, skill, and playoff pedigree. The Leafs would have had their big-ticket replacement without concern for a backup plan this offseason.
Vegas, meanwhile, would have landed Marner, a dynamic playmaker whose elite vision would have been their splash of the season (they tend to make one every year). They would have shed William Karlsson’s $5.9 million contract, potentially giving Carolina another scorer. Vegas would have wound up with one of the better top lines in the NHL.
However, the proposed trade came with significant risks.
For Vegas, they would have been forced to commit huge money to Marner in the hopes that he clicked with Jack Eichel. Toronto, while upgrading in talent, would be swapping one expiring contract for another, with Rantanen only signed through 2026 and no long-term commitment guaranteed. Had they signed him to an extension, the team would have remained a “Core Four” heavy roster, with one piece swapped out. Whether that remains the best strategy is something the organization is seriously contemplating this summer.
Carolina’s vague role in the deal also raises questions about the value they would have received, possibly explaining why the trade fell through. They wouldn’t have landed Logan Stankoven, who appears to be a solid piece for them. Interestingly, Mirtle also writes that word going around at the NHL Combine is that “The Hurricanes are obviously going to be in the Marner sweepstakes, as adding a superstar is their top need…”
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