Pending UFA winger Reilly Smith will sign an extension with the Golden Knights instead of testing the market, Elliotte Friedman of Sportsnet reports Wednesday. It’s a one-year deal worth $2MM, half of which will be paid via signing bonus, according to PuckPedia. The contract also includes a full no-trade clause.
The 34-year-old’s second stint in Vegas will last longer than a few months. The Knights reacquired the familiar face, who played for the club in its first six seasons and won the Stanley Cup with them in 2023, from the Rangers at the trade deadline in exchange for prospect Brendan Brisson and a third-round pick.
It’s been rough for the veteran winger since the Knights made him a cap casualty in the days following their Cup win. Vegas had signed him to a three-year, $15MM extension the year prior, but they needed to make room for new deals for goaltender Adin Hill and the younger and more productive Ivan Barbashev on the wing. Smith had limited trade protection, so he was dealt to the Penguins, not one of his preferred destinations, for a third-rounder.
While Smith’s 40 points in 76 games for Pittsburgh were fine, it was a sharp decline from his 56 points the year prior. He only had 13 goals, tied for his lowest tally in a season since establishing himself as a full-time NHLer with the Bruins in 2013-14. The Penguins, looking to get younger and shed salary, traded Smith to the Rangers last summer while retaining some of his contract. His point totals were similarly middling in New York as the team struggled in general, posting a 10-19–29 scoring line in 58 games before getting traded back to Vegas. He finished the year with 11 points and a +11 rating in 21 games for the Knights, although only three of those points were goals. He was also limited to three goals and an assist in 11 postseason outings.
Aside from a blip in the COVID-shortened 2020-21 campaign, Smith was a routine 20-goal, 50-point scorer in his heyday with Vegas. Barring what would be a surprising resurgence given his age, those days are behind him. He’s still a useful depth scorer on a team that needs them, but it would probably benefit both sides if his ice time dropped from the 15 minutes per game he was still seeing last year to give him more favorable matchups. He also didn’t see much power-play time for Vegas after his reacquisition; that could change in 2025-26, depending on how aggressive a makeover the Knights’ forward group receives in the coming weeks.
Clearly, Smith’s priority was staying in Vegas. He leaves some money on the table in exchange for contractually guaranteed team stability, unless he struggles and ends up on waivers. Vegas now has $7.615MM in cap space remaining with Nicolas Hague as their only super notable RFA to re-sign, and he’s on the trade block. They’ve got five roster spots to fill, though, so that might be a tight fit barring a cap-clearing trade. There’s also the potential of defenseman Alex Pietrangelo, signed through 2026-27 at an $8.8MM cap hit, starting the season on long-term injured reserve after playing injured last year.
Image courtesy of Sergei Belski-Imagn Images.
Reilly Smith staying in Vegas isn’t surprising as that’s where he’s had his best production. Staying in Vegas was best for him.
Vegas though may need to try at some point moving Alex Pietrangelo’s bloated contract. While him starting on IR helps, it’s a contract Vegas would be better off trying to move, though him having a NMC on his deal makes that a challenge.
Dog.
Vegas could have retained Smith for less than 2 million.
Well, Vegas is known for being loyal to their players.