Pontus Holmberg is moving on from the Toronto Maple Leafs to the Tampa Bay Lightning.
Holmberg agreed to a two-year contract with the Lightning worth $3.1 million. The annual average value of the deal would be $1.55 million. Holmberg exits the Maple Leafs organization after three seasons with the club.
The 26-year-old, who was a restricted free agent at the end of this season, wasn't qualified by the Maple Leafs. After a year which saw him score seven goals and 12 assists in 68 games, Toronto chose not to qualify Holmberg because he had arbitration rights.
"Well, once he gets into the market, he becomes open to everybody. And really, it wasn't necessarily a situation we didn't like the player, we did. He had arb rights," Maple Leafs GM Brad Treliving said on Tuesday afternoon.
"I think when you see players go free, sometimes people don't understand the rights that are associated with certain players. Up until 5 o'clock yesterday, if we were to qualify him, he then kicks into arbitration mode or he's attached to an arbitration filing, and that elevates the number. So we weren't able to, between us and Pontus's side, find a number that we felt fit for us.
"Now, once you get into the UFA, a lot of times that number will come down because you're not attached to the arbitration. So we like Pontus. We've had discussions and talked to each other prior to us not qualifying him, but I think it's probably a fair bet to say that he has hit the market and we'll see where it goes."
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And Treliving was right. Four hours after Holmberg hit the open market, the Lightning snatched up the forward.
Holmberg's time with the Maple Leafs ended after being drafted by Toronto in the sixth round of the 2018 NHL Draft. At the time, it was unknown what the forward would become, but as the years progressed, Holmberg played his way into a bottom-six role with Toronto.
In 159 games with the Maple Leafs, Holmberg scored 19 goals and 30 assists for 49 points.
The Lightning also signed former Toronto forward Nick Abruzzese to a one-year, two-way contract. Toronto's former fourth-round pick only played 11 NHL games with the Maple Leafs, scoring one goal and two assists in that span.
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After losing Holmberg, Abruzzese, and Alex Steeves to free agency, the Maple Leafs have re-signed Dakota Mermis and signed Michael Pezzetta and Benoit-Olivier Groulx to two-year deals with an $812,500 AAV. They also added Travis Boyd on a one-year, $775,000 contract.
(Top photo of Holmberg: Sam Navarro / Imagn Images)