May 18, 2025; Toronto, Ontario, CAN; Toronto Maple Leafs forward Auston Matthews (34) and Florida Panthers goaltender Sergei Bobrovsky (72) shake hands after game seven of the second round of the 2025 Stanley Cup Playoffs at Scotiabank Arena. Mandatory Credit: John E. Sokolowski-Imagn Images John E. Sokolowski-Imagn Images

Maple Leafs Already Step Behind in Free Agency

Originally posted on Breakaway on SI | By Nick Horwat | Last updated Jul 1, 2025 11:30 AM ET

The NHL free agency period is about to open and the Toronto Maple Leafs are already behind the 8-ball. Heading into free agency, the Maple Leafs were chosen as perfect landing spots for a trio of key players who could have hit the market, all from the reigning back-to-back Stanley Cup champion Florida Panthers.

The Maple Leafs were linked to Sam Bennett, Aaron Ekblad, and Brad Marchand, but the Panthers pulled off an impressive move and extended all three star players. Obviously, more than just the Maple Leafs would have been in on guys like Bennett, Ekblad and Marchand, but Toronto was ready to make unbeatable offers.

BRAD MARCHAND IS STAYING A FLORIDA PANTHER.

» https://t.co/Bodn2fr7H4 pic.twitter.com/2nxRTva3yp
— Florida Panthers (@FlaPanthers) July 1, 2025

Bennett was awarded the Conn Smyth as the playoff MVP and parlayed that into a huge eight-year extension worth $8 million annually. He maybe could have gotten more on the open market, but it’s not easy to walk away from a team that has won the Stanley Cup in back-to-back years.

Same goes for Ekblad, who left millions of dollars on the table to re-sign in Florida. The Panthers managed to signed Ekblad to an eight-year extension worth $6.1 million, a pay cut from his previous $7.5 million salary.

Even when after Bennett and Ekblad signed, there was still hope in Toronto that the Marchand was still a possibility. He grew up cheering for the Maple Leafs and no one was going to be able to outbid their reported offer over $8 million per year.

The Panthers once again beat Toronto to the punch and got Marchand signed to a lower price. With a lengthy six-year deal, Marchand is staying in Florida at $5.25 million annually.

Of course, the Panthers re-signing three star players takes away the opportunity for any other team in the NHL to sign them, but the Maple Leafs were ready to take big runs for at least one of them, if not all three.

The Maple Leafs managed to add Nic Roy as part of losing Mitch Marner to the Vegas Golden Knights. With the three key Panthers extending in Florida, the Maple Leafs will have to pivot to plan B as free agency kicks off.

This article first appeared on Breakaway on SI and was syndicated with permission.

More must-reads: