According to Sportsnet’s Elliotte Friedman, the Vegas Golden Knights and Toronto Maple Leafs are in active negotiations for a sign-and-trade deal that would see Mitch Marner end up in Nevada. Friedman followed up on the initial report, stating that forward Nicolas Roy is expected to be part of the return to Toronto if a deal is finalized. A few moments later, TSN’s Bruce Garrioch reported that the Maple Leafs requested defenseman Nicolas Hague in the return as well.
Although sign-and-trades of this caliber are exceptionally rare, the Golden Knights’ motivation to make the move now, instead of pursuing Marner for nothing in a few days, is likely twofold. Acquiring him with a new contract in place now eliminates all competition for his services, and would allow Vegas to add an eighth year to his contract via Toronto.
Besides the magnitude of the hypothetical trade, the news comes with little surprise. The Golden Knights are no stranger to making sizeable additions to the roster and have been linked to Marner by various outlets for several weeks.
Depending on the dollar amount for Marner’s next deal, Vegas should be able to get a deal done rather comfortably. Assuming Roy is in the trade, the Golden Knights would have approximately $8.6MM available in cap space, with an additional $8.8MM available if defenseman Alex Pietrangelo is headed for the long-term injured reserve.
Adding Marner to a forward core that already includes Jack Eichel and Mark Stone would be enough to create one of the most dynamic offenses in the league. Eichel was the team’s leader in points this past season, scoring 28 goals and 94 points in 77 games. Meanwhile, Marner recently concluded the best individual season of his career, scoring 27 goals and 102 points in 81 contests with a +18 rating. 
Despite not having a 100-point scorer in their brief team history, Vegas was still able to finish with the league’s fifth-best offense this season, averaging 3.34 goals per game. Unfortunately, their defense may suffer as a result of the trade.
Assuming Pietrangelo is headed for the LTIR, and Hague is included in the trade, that leaves the Golden Knights in the unenviable position of giving consistent minutes to Ben Hutton and Kaedan Korczak throughout the 2025-26 campaign, with few dollars to improve. They may find better options on the trade market, but it’ll be challenging with Marner presumably anchoring their salary cap table.
According to Friedman, Vegas views their situation similarly when it comes to their defensive core. The insider for Sportsnet indicated earlier that the Golden Knights attempted to acquire defenseman Rasmus Andersson from the Calgary Flames earlier this week, though nothing worthwhile came to fruition.
Meanwhile, while only knowing a few of the reported names hypothetically headed to Toronto, Roy would be a quality addition for the Maple Leafs. Although he’s best used as a third-line center, Roy would bring a ton of versatility to Toronto’s forward with the ability to play up and down a lineup.
He’s been a consistent secondary scorer for the Golden Knights over the past four years, scoring 57 goals and 141 points in 284 games with a +26 rating, averaging 15:48 of ice time per night while maintaining a 47.9% success rate in the faceoff dot. Additionally, he’s a capable presence in the playoffs, scoring three goals and 11 points in 22 postseason contests during Vegas’ run to a Stanley Cup title in 2023.
Moving to the blue line, Hague is a known commodity in the league and has generated plenty of interest this summer. Utilizing a similar playstyle to Jake McCabe, Hague is a quality top-four option who can eat meaningful minutes. Although he’s not much of a point producer, Hague is an incredibly physical defenseman and stalwart in the defensive zone, managing a 90.9% on-ice save percentage in 364 games as a Golden Knight.