Maple Leafs Nearly Dealt Mitch Marner in Massive Three-Team Deadline Trade
The Toronto Maple Leafs came remarkably close to executing a blockbuster three-team trade at the 2025 NHL trade deadline—one that could have drastically altered the dynamics of the league.
According to James Mirtle of The Athletic, the proposed trade would have involved the Maple Leafs, Vegas Golden Knights, and Carolina Hurricanes. The deal was structured to send Mitch Marner to Vegas and bring Mikko Rantanen to Toronto. However, negotiations fell through when Vegas and Carolina failed to agree on the final package of assets required to complete the transaction.
It remains unclear if Marner was asked to waive his no-movement clause for this specific trade. However, reports later suggested that he had declined to waive the clause in a separate trade scenario that would have sent him directly to Carolina in exchange for Rantanen.
In the end, the Hurricanes opted to trade Rantanen to the Dallas Stars in a different deal that included top prospect Logan Stankoven and two first-round draft picks. Following the trade, Rantanen signed a substantial eight-year, $96 million contract extension with Dallas.
Discussions surrounding Marner’s potential trade are not new. Sportsnet’s Elliotte Friedman previously reported that Toronto had explored a Marner deal with Vegas during the 2024 offseason. However, those talks stalled when the Leafs requested defenseman Shea Theodore in return—an offer Vegas rejected. Theodore instead re-signed with the Golden Knights on a seven-year, $52 million extension in October 2024. Whether Marner would have agreed to waive his no-movement clause at that time remains unknown.
Had the three-team trade been completed, it’s uncertain whether Rantanen would have committed to the same long-term contract in Toronto. However, his presence might have significantly improved the Maple Leafs’ playoff performance, potentially enabling them to overcome the Florida Panthers in the second round.
Now, with the trade never materializing and Toronto once again suffering a disappointing postseason exit, Mitch Marner is poised to leave the team as an unrestricted free agent this summer. Both the Hurricanes and Golden Knights—teams previously linked to the blockbuster—are reportedly preparing to pursue the 28-year-old winger in free agency.
In retrospect, the failed trade may have benefited Carolina and Vegas. The Hurricanes secured promising talent in Stankoven and additional draft capital, while preserving cap flexibility—now exceeding $28 million—which could be used to sign Marner without sacrificing further assets. Similarly, Vegas can target Marner in free agency without having given up players or picks.
For the Maple Leafs, however, the outcome is less favorable. They now face the imminent loss of a key star and will need to address significant roster gaps in the offseason. As Marner prepares to move on from his hometown club, Toronto faces a pivotal and potentially turbulent summer.
