Maple Leafs re-sign John Tavares for 4 years and the Oilers keep Trent Frederic around long term

John Tavares is staying with the Toronto Maple Leafs for four more years at a significantly discounted price.

Tavares re-signed Friday for $17.55 million, and he’ll count $4.39 million against the salary cap through the 2028-29 season on a very team-friendly contract. He was making $11 million annually on his previous deal and was a point-a-game player last season at age 34.

The Toronto-area native who grew up rooting for the Leafs took less than he could have gotten on the open market.

“Even though I obviously left some money out there, I’ve done pretty well, I’m still doing pretty well and I get to play for an amazing club in a great city – a place where I’m from and a team that’s got a real opportunity to win,” Tavares said on a video call with reporters. “I wanted to make it work and find a way to make a deal that was very good for both sides.”

Fellow center Brock Nelson, who is 11 months younger, got $7.5 million a year over the next three seasons to stay with Colorado after the Avalanche acquired him at the trade deadline from the New York Islanders.

“We would all agree there was going to be an opportunity for John to make a lot more money elsewhere, and his focus was staying here,” Toronto general manager Brad Treliving said. “His work and his commitment and his desire, it sort of steered the process on this negotiation, so full marks and full credit to John.”

Like Nelson, Trent Frederic changed places at the deadline. On Friday, the big winger re-signed with the Edmonton Oilers for the longest possible term on an eight-year contract worth $30.8 million.

After returning from injury, Frederic had three points and skated 11 minutes a game on Edmonton’s second consecutive run to the Stanley Cup Final. GM Stan Bowman with this contract is betting on more production from Frederic, who turned 27 in February, a few weeks before the trade from Boston.

“Every year I’ve improved, and I’ll continue to do that,” Frederic said on a video call. “I think my best hockey is yet to come.”

Bowman cleared cap space for Frederic and what’s expected to be a big-money contract for defenseman Evan Bouchard. Plus, Leon Draisaitl’s $112 million deal goes into effect next season.

On the horizon for Edmonton is an extension for three-time MVP Connor McDavid, which cannot be signed until July 1. Negotiations for that deal are expected to take some time this summer.

While McDavid is expected to stay with the team that drafted him first overall in 2015, the player taken fourth a decade ago is almost certainly moving on, with Mitch Marner expected to leave Toronto and sign elsewhere next week as an unrestricted free agent.

“It’s difficult when you possibly could lose a player like Mitchy and what he brings, but you’ve got to move forward,” Tavares said. “Obviously, if he does end up leaving, it’s a very difficult player and person to replace and what he brings to the team on and off the ice.”

In other moves, Detroit re-signed Swedish defenseman William Lagesson to a two-year, two-way contract at the league minimum of $775,000 for each of the next two seasons at the NHL level.