Holmstrom signed a one-year, $850,000 contract with the Islanders on Tuesday, per PuckPedia.
Holmstrom and the Islanders were able to work out a deal outside of his qualifying offer, which would have paid him marginally more. That would have been a two-way agreement, but the contract Holmstrom penned instead is a one-way deal, which suggests the team has faith in the winger spending most of the year in the NHL. He produced 25 points over 75 regular-season outings in 2023-24, playing mainly in a middle-six role, though he also shot 20.8 percent, which makes him a candidate for regression.