New Jersey Devils forward Alexander Mogilny signed a four-year contract worth $22 million with the Canadian NHL club Toronto Maple Leafs. After the expiration of his contract with the Devils, Mogilny became an unrestricted free agent and the finalists of the current Stanley Cup did not express a desire to renew the contract with the 32-year-old Russian. Mogilny himself would have preferred to remain in Jersey, but Toronto's agents offered, according to him, much more favorable conditions than those he could have counted on at his former club. After negotiations between general manager Lowe Lamoriello and Mogilny's agent Mike Barnett, it became clear that the Devils could not outbid the Canadians' offer.
“I know Lowe and his negotiation style quite well. Everything was already decided,” said Jersey’s highest paid player last season ($5.2 million). √ It was a very difficult decision. Believe me, I really wanted to stay in “ New Jersey". But, alas, it didn’t work out. What was offered to me was simply unacceptable."
Toronto general manager Pat Quinn was full of compliments about his new acquisition: "He's one of the most talented players I've ever been around." Let us remember that Quinn managed to work with Mogilny in Vancouver in 1995-96.