The Toronto Maple Leafs have opted not to qualify forward Pontus Holmberg prior to the July 1 free agency deadline, allowing him to become a free agent. The Tampa Bay Lightning quickly signed Holmberg to a two-year contract valued at $3.1 million. The deal averages $1.55 million per year, marking the end of Holmberg's tenure with the Leafs where he scored 49 points in 159 games since being drafted in the sixth round in 2018.

General Manager Brad Treliving cited arbitration concerns as a key reason for not qualifying Holmberg, stating they couldn’t agree on a suitable number. With the Leafs having filled all 23 roster spots, they currently have $4.98 million in cap space remaining. Holmberg's performance last season included 19 points in 68 games, but he was scratched during the playoffs, casting uncertainty on his future.