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[Pittsburgh Penguins]

Looking at the Penguins’ salary cap situation in 2025-26

Photo by Dave Sandford/NHLI via Getty Images

The Penguins are heading into the summer with nine potential free agents and a projected $24.5 million in cap space.

The Pittsburgh Penguins are projected to rank top ten in cap space among NHL teams when free agency opens in three weeks.

Here’s a look at the Penguins’ cap situation ahead of the June 27-28 NHL draft and July 1 beginning of unrestricted free agent signings.

Like the rest of the league, the Pens will benefit from the upcoming rise of the salary cap, which is projected to increase by $7.5 million to an upper limit of $95.5 million next season.

The Penguins currently have five restricted free agents in Connor Dewar, Philip Tomasino, Vasiliy Ponomarev, Pierre-Olivier Joseph and Conor Timmins.

The Pens will also have four players hitting unrestricted free agents in Matt Nieto, Boko Imama, Joona Koppanen and Matt Grzelcyk.

Without any of those players re-signed, the Penguins are heading into the 2025-26 campaign with 18 active roster players signed and what PuckPedia projects as $24.5 million in cap space.

That’s good for the 10th-most cap space in the NHL, according to PuckPedia.

puckpedia.com

puckpedia.com

Dubas hasn’t committed to wanting to bring any RFAs back. He told DK Pittsburgh Sports’ Taylor Haase on June 7 that the Penguins still needed to “stack those guys up versus what’s going be available on the market, and for how much, and make the best decisions for the club.”

The Penguins GM also didn’t commit to pursuing Grzelcyk, but said the team “has made it clear” to Imama they want him to return, per Haase. Imama played last season on a one-year, $775,000 deal.

Cap space available could also change before the 2025-26 season if players like Kris Letang, who underwent heart surgery in April, or Imama, who underwent bicep surgery with a four-to-six month recovery timeline in late March, start the season on LTIR.

After July 1 signings like Ryan Graves and Tristan Jarry went wrong for the Penguins, it sounds like Kyle Dubas will be more cautious about using this space to make a splash when free agency opens next month.

Kyle Dubas indicated when speaking with The Athletic’s Josh Yohe earlier this week that he plans to use that space on extending trade acquisitions rather than signing free agents. As Yohe wrote about Dubas’ plans:

Dubas and the Penguins have a bushel of draft picks and several veterans they’re willing to trade. In return, they hope to acquire young, talented players who, for whatever reason, are no longer proper fits on their teams.

If the Penguins are aggressive in the next month, it’s likely to be on the trade market more than in free agency.

“Yeah,” Dubas said, confirming that he’ll potentially be busy on the trade market. “Trade, (then) sign guys for longer range (after they’ve been acquired). UFA isn’t a good place to find good value.”

Dubas can consider longer-term contracts given the upcoming expiration of several contracts currently restricting the team’s salary cap.

Eight current contracts (notably including Evgeni Malkin’s) are set to expire ahead of the 2026-27 season, leaving the franchise with a projected $53.8 million in cap space, per PuckPedia.

puckpedia.com

It is not yet clear if Malkin will be back for the 2026-27 campaign. He did tell The Athletic’s Rob Rossi in February that he would be back for another season after 2024-25, and that when he eventually retired it would be with Pittsburgh.

PuckPedia’s numbers reflect the projected rise of the salary cap over the next few seasons, which is estimated to jump to $104 million in 2026-27 and $113.5 million in 2027-28, according to a January NHL Players’ Association memo obtained by ESPN.

Those numbers could change based on outside factors, ranging from tariffs impacting exchange rate between the U.S. and Canada and the collective bargaining agreement currently being negotiated by the NHL and NHLPA ahead of the current CBA’s September 2026 expiration.

But the current expectation is for the cap to continue rising, giving Dubas the projected space to continue an almost complete rebuild of this roster over the next few seasons.

Source: https://www.pensburgh.com/2025/6/10/24446225/looking-at-the-penguins-salary-cap-situation-in-2025-26

 

[Pittsburgh Penguins]

Mario Lemieux, Ron Burkle trying to buy Penguins back?

Photo by Justin K. Aller/Getty Images

Old owners might be trying to get back in the game

Pierre LeBrun had a juicy bit of information:

Hearing from sources that the group of Ron Burkle, Mario Lemieux and David Morehouse are investigating the possibility of buying back the Penguins from Fenway Sports. Burkle and Lemieux sold the Penguins to Fenway in 2021. Fenway has been looking to sell a partial share. Will be…

— Pierre LeBrun (@PierreVLeBrun) June 11, 2025​

Hearing from sources that the group of Ron Burkle, Mario Lemieux and David Morehouse are investigating the possibility of buying back the Penguins from Fenway Sports. Burkle and Lemieux sold the Penguins to Fenway in 2021. Fenway has been looking to sell a partial share. Will be interesting to see where this goes…

LeBrun followed up:

The Burkle/Lemieux/Morehouse group declined comment via a representative.
Also hearing that Fenway is already talking to another group. So lots of moving parts in all this. https://t.co/BII89YYvXK

— Pierre LeBrun (@PierreVLeBrun) June 11, 2025​

Fenway Sports Group bought the Penguins in 2021, in a deal that closed on December 31st for approximately $900 million dollars. It was a good investment at a good time, the Penguins were value was placed at $1.75 billion in the latest Forbes rankings in fall 2024 in the midst of franchise values exploding across the NHL.

It was reported earlier in the year that FSG was looking to sell a minority stake in team.

Lemieux and FSG have had an interesting relationship, with Lemieux controlling a very small percentage of the team. Unlike from his retirement in 2005 to 2021, Lemieux is almost never seen at games any longer, with tensions believed to be high regarding how a dispute of Lemieux Group minority owners was handled by the conglomerate and former owner.

It remains unknown if Lemieux, Burkle and company would seek a controlling interest or a smaller share, but there’s no doubt the franchise legend looking to get back involved with the franchise will provide intrigue in the future.

Source: https://www.pensburgh.com/2025/6/11/24447594/mario-lemieux-ron-burkle-trying-to-buy-penguins-back

 

[Pittsburgh Penguins]

On this date in Penguins history: June 12th, a great day for Pittsburgh hockey

Photo by Harry How/Getty Images

Two of the Penguins five Stanley Cup titles were won on June 12th.

June 12th is a great day in the history of the Pittsburgh Penguins franchise as two of the team’s five Stanley Cup titles were won on this date.

In 2009, the Penguins pulled off what seemed like the impossible and went into Joe Louis Arena in Detroit and beat the Red Wings in Game 7 of the Stanley Cup Final, winning the franchise’s first championship in 17 years.

Photo by Harry How/Getty Images

Max Talbot scored the biggest goals of his career when he beat Chris Osgood twice.

From there, the Penguins hung on for dear life to beat the veteran-led Red Wings 2-1 as Marc-Andre Fleury made a late diving save on a shot from Nicklas Lidstrom to seal the victory for Pittsburgh.

Photo by Jim McIsaac/Getty Images

Seven years later, after years of early playoff exits and disappointments, the Penguins came up big with another road in the Stanley Cup Final, beating the Sharks in San Jose to win the title in 2016.

Photo by MediaNews Group/Bay Area News via Getty Images

This time around, it was a different type of feel as the Penguins clinched the victory.

In 2009, the Penguins hung on for victory, holding off a ferocious comeback attempt from the Red Wings.

This version of victory was in much more of a dominant fashion. Brian Dumoulin opened the scoring for the Penguins before Logan Couture tied things up for San Jose in the second period, followed by a remarkable shift and goal from Kris Letang, who put Pittsburgh back on top.

Photo by Ezra Shaw/Getty Images

The Penguins held onto this lead, stifling the Sharks during the third period, only allowing them to get two shots on goal in the final frame of the game and series.

With two titles won on this date, June 12th definitely has a special place in Penguins history as a great day for hockey.

Source: https://www.pensburgh.com/2025/6/12...y-june-12th-a-great-day-for-pittsburgh-hockey

 

[Pittsburgh Penguins]

Trade or pass: Looking at the NHL’s trade boards for potential Penguins matches

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The Pittsburgh Penguins figure to be active in the trade market this offseason. Let’s see if there are some potential matches.

Now that the Pittsburgh Penguins have their head coach in place, attention is going to be shifting to the roster that Dan Muse is going to be working with when the 2025-26 season begins. The Penguins are not expected to be overly active in free agency, but do figure to be heavily involved in the trade market. That could mean selling off their own veterans as part of their transition phase (Erik Karlsson ... we’re looking at you), or trying to turn some of their supply of draft picks into more immediate/near-term NHL help.

We have already talked endlessly about the players on the Penguins roster that could be dealt, so let’s take a look at some of the outside options that they might be in the market to acquire.

Specifically, let’s look at some of the various NHL offseason trade boards and see who might be a good match and who should be avoided.

Jason Robertson, Dallas Stars
Age: 25
Contract status: One-year remaining at $7.75 million, and then one more year of restricted free agency before UFA status

Good match for the Penguins? The possibility of Robertson being available for a trade seems .... kind of baffling .... but there is plenty of smoke around his name going into the offseason. He is one of the best players on one of the NHL’s best teams and is still very much in the prime of his career. If the Penguins were even remotely close to contending I would say “shut up and take my draft picks” and want the Penguins to do whatever they could to acquire him.

Players this good, still in their prime, do not become available very often.

But with the Stars in the middle of a salary cap crunch, Robertson due for a new contract, and the Stars going through some stuff after another Western Conference Final loss the idea is at least being presented.

I love Robertson as a player. I think the Stars should keep him (beyond this season). And if they don’t, teams should be lining up to fight for the right to trade for him.

But the Penguins shouldn’t be one of those teams. Even though Robertson is still in a prime age and is a salary cap steal this upcoming season, his next contract will be significant, and acquiring him would likely cost multiple first-round picks and a top prospect. The Penguins are not in a position to be trading any of their three first-round picks over the next two years (and certainly not their 2026 pick ... or that Rangers pick if it is in 2026), or a Rutgery McGroarty or Ville Koivunen, for one player in their mid-20s that’s about to see their price skyrocket.

The price in terms of assets would likely just be too high for where the Penguins are this offseason.

Marco Rossi, Minnesota Wild
Age: 23
Contract status: Restricted free agent

Good match for the Penguins? In terms of likely cost it’s a better match than Robertson, even if Rossi isn’t as good of a player.

The Wild seem to have lost some faith in Rossi after reducing his role in the playoffs and don’t seem willing to match his asking price as a restricted free agent. At this point it almost seems like it’s a matter of when, and not if, he gets traded this offseason.

For me it would ultimately come down to price — both in terms of trade assets and what Rossi is going to command.

I know he’s smaller and doesn’t fit the “let’s get tougher to play against” mindset that Kyle Dubas seems to have this offseason, but he’s a slick offensive player that is likely still improving and could be a significant part of the next good Penguins team. With Evgeni Malkin likely entering his final season you’re going to need a No. 2 center sooner rather than later. Could Rossi be that sort of player?

This is at least a call you make and see if the asking price is within reason. I don’t know if it would be. But it would 100 percent be less than Robertson’s asking price, while still potentially bringing you a long-term fit.

Bowen Byram, Buffalo Sabres
Age: 23
Contract status: Restricted free agent

Good match for the Penguins? Byram hasn’t yet become the star that he was projected to be when he first broke into the league, but 1) he’s still only 23, and 2) he’s also still one heck of a player. His 1.31 points per 60 minutes of 5-on-5 play were 14th among NHL defensemen this past season despite playing on a pretty lousy team.

The left side of the Penguins defense is a short-term and long-term black hole of talent, and Byram could step into the lineup tomorrow and be their best option on that side while also being a long-term fit.

He’s good. He’s productive. He’s also probably going to be in extremely high-demand given the lack of quality defensemen on the free agent market.

The Penguins should be interested from a hockey standpoint. But the asking price is going to be a likely deterrent.

JJ Peterka, Buffalo Sabres
Age: 23
Contract status: Restricted free agent

Good match for the Penguins? The vibes in Buffalo have to be absolutely rancid for them to have players like Byram and Peterka that are in their early 20s and on the trade block. Very grim, bleak situation.

As for Peterka, I put him in the same category as Robertson: Love the fit from a hockey standpoint, love the player, but the asking price is probably going to be beyond what the Penguins should be paying at this point.

Isaac Howard, Tampa Bay Lightning
Age: 21
Contract status: Unsigned former first-round pick

Good match for the Penguins? Okay, now we’re talking. The reigning Hobey Baker Award winner does not seem likely to sign with the Tampa Bay Lightning, and he is very much on the trade block. Dubas showed a year ago that he is willing to make a move on players like this when he acquired McGroarty from the Winnipeg Jets, so it’s definitely worth kicking the tires on Howard.

There seems to be a pretty wide range of opinions on his NHL upside (some people love him; some people don’t), but he’s a talented player that could add to the prospect depth.

Matias Maccelli, Utah Mammoth
Age: 24
Contract status: One year remaining at $3.425 million and then a restricted free agent

Good match for the Penguins? Maccelli’s first two years in the NHL were pretty impressive from an offensive and play-making standpoint. During his first years in the league he was averaging 1.54 assists per 60 minutes of 5-on-5 play (18th in the NHL) and 0.88 primary assists per 60 minutes (43rd in the NHL). Then in year three everything sort of bottomed out for him, his production dropped and he found himself as a regular healthy scratch. Now he could find himself out of Utah entirely.

The Penguins have 20 picks in rounds 2-5 over the next three seasons. The more picks you make, the more likely you are to find a future NHL player. But part of the reason you collect that many picks is so you can also take a flier on a talented player that might need a change of scenery. If you could get him for one of those mid-round picks .... I would be all over it.

Rebuilding isn’t just about selling off veterans for draft picks and prospects. Sometimes it’s about taking on cheap reclamation projects. Maybe you rebuild their value into something you can trade for a bigger return in the future. Maybe you find a player that can be a long-term fit. Maybe it fails and you end up with the same result as most mid-round picks — nothing.

Lukas Reichel, Chicago Blackhawks
Age: 23
Contract status: One year remaining at $1.2 million and then restricted free agent

Good match for the Penguins? Speed and talent are not lacking for him, but consistency certainly is. Everything I just said about Maccelli also applies here. I don’t know how much urgency the Blackhawks would have in moving him given the status of their own rebuild, but Frank Seravalli has him at No. 23 on his most recent trade board. I think he’s worth calling about to see if a coach that excels with teaching the game can bring something out of him with a fresh start.

Source: https://www.pensburgh.com/2025/6/12...s-trade-boards-for-potential-penguins-matches