Nate Schmidt, who won a Stanley Cup with the Florida Panthers, has signed a three-year contract with the Utah Mammoth worth $3.5 million annually.
Last June, the Winnipeg Jets bought out Schmidt while he was still on a six-year contract worth $5.95 million annually that he signed while he was with the Vegas Golden Knights back in 2018.
Winnipeg buying out Schmidt meant he was a pending unrestricted free agent that Florida signed on a one-year deal worth $800,000 with the intent that it would give the Panthers another top-six option.
The return on that investment saw Schmidt reach the 80-game mark for the first time in his career. He scored five goals and had 19 points while averaging 16:31 in ice time with the Panthers finishing third in the Atlantic Division.
Although his regular-season contributions gave the Panthers another daily defensive option, it was the postseason that saw Schmidt enjoy some of the strongest performances of his career.
The 33-year-old, who turns 34 later this month, had three goals and 12 points in 23 games to help the Panthers win a consecutive Stanley Cup against the Edmonton Oilers with this year's series ending in six games.
Florida's cap situation presented the possibility that it might not be able to afford Schmidt. That turned into a reality Monday when the club signed both Aaron Ekblad and Brad Marchand to long-term deals.
It opened the door for Schmidt to strike a deal with the Mammoth, which will see him join what appears to be a crowded top six that includes Ian Cole, Sean Durzi, Olli Maatta, John Marino, Mikhail Sergachev and Juuso Valimaki.
Later Tuesday, the Mammoth also signed goaltender Vitek Vanecek away from the Panthers. The veteran secured a one-year contract worth $1.5 million, less than a month after the raising the Stanley Cup.