From the end of October until the end of December, the Pittsburgh Penguins were inching closer to the final wild-card spot in the Eastern Conference due to a 14-9-4 record in 27 games. Unfortunately, that solid run has been sandwiched between a 3-7-1 record at the beginning of the season and a 3-5-3 record over their last 11 games.
The Penguins have already made a prudent move by sending struggling netminder Tristan Jarry through waivers a few days ago but that may only be the start of larger things to come. According to a report from Marco D’Amico from RG.org, and corroborated by other outlets, Pittsburgh is reportedly leaning toward a full-scale fire sale at this year’s trade deadline.
It’s easier to list the names of those reported not on the trade block rather than those that are. D’Amico asserts that a source close to the Penguins believes Sidney Crosby, Evgeni Malkin, Bryan Rust, Philip Tomasino, and Owen Pickering are the only players Pittsburgh has no interest in moving.
Using deductive reasoning, not only are the Penguins considering moving on from pending unrestricted free agents such as Marcus Pettersson, Matt Grzelcyk, and Anthony Beauvillier, but will additionally dangle those with length left on their deals such as Rickard Rakell, Erik Karlsson, Kris Letang, and Ryan Graves.
Considering his mild eight-team no-trade clause, Pittsburgh will likely have the easiest time moving Rakell if they go that route. Aside from a tepid season last year, he’s been a productive forward for the Penguins, since being acquired from the Anaheim Ducks in 2021-22.
It will be more challenging to determine the market for Karlsson and Letang. However, it is not unusual for a player with multiple years remaining on their contract and a full no-movement clause to be traded at the deadline. A recent example is the Vegas Golden Knights’ acquisition of Tomáš Hertl last year.
Still, considering Karlsson is making a hefty $10MM salary until 2026-27, and the fact that Letang isn’t playing up to his $6.1MM salary, it’s more than likely these trades will have better traction in the offseason. Pittsburgh will have to retain salary in any deal for either defenseman but D’Amico didn’t indicate the Penguins had any desire to do so at the time being.
Navigating the current situation is quite challenging for Pittsburgh. The team needs to balance the goal of remaining competitive during the final years of Crosby’s career while also considering their future. Currently, they find themselves in a difficult position, sitting 13th in the Eastern Conference, while only projected to have the 10th overall pick in the 2025 NHL Draft.
There’s room for change on either front given there are 33 games left in the regular season but the Penguins will have to choose a direction relatively soon considering the magnitude of any hypothetical trade. At any rate, it’ll be unfamiliar territory for general manager and president of hockey operations Kyle Dubas.