Just days after winning the Stanley Cup, the Vegas Golden Knights are moving on from original expansion draft acquisition Reilly Smith. He’s been dealt to the Pittsburgh Penguins for a 2024 third-round pick, one the Penguins acquired from Vegas just a few months ago in exchange for center Teddy Blueger.
To say this move is a shock to most fans is an understatement. While cap-clearing moves have become commonplace in recent history, especially in Vegas, Smith had a spectacular postseason run for the Knights with four goals and 14 points in 22 games. At the time of the trade, he was second in franchise history in goals (124) and third in points (286), joined in the top three by longtime linemates Jonathan Marchessault and William Karlsson.
Smith, 32, has two seasons remaining on his contract at a $5MM cap hit. Of note, this is the first trade completed by Kyle Dubas as interim general manager of the Penguins.
Parting ways with that $5MM, as tough as it may be, gives Vegas significant flexibility into an offseason clouded by uncertainty over the playing future of goaltender Robin Lehner, who missed the entire 2022-23 season recovering from double hip surgery and is under contract, as Smith is, for $5MM per season until 2025. With netminder Adin Hill expected to sign a two-year extension in the neighborhood of $4.9MM per season, clearing Smith’s cap hit leaves the Knights with about $3.5-$4MM in space should Lehner be healthy next season.
In Smith, Pittsburgh may not be getting any younger, but they are getting a spectacularly consistent winger with good ability on both the power play and penalty kill. A well-rounded talent, his 26 goals this season were one short of his career high, set with Vegas in the 2019-20 season. He could very well slot in on Pittsburgh’s second line with Evgeni Malkin and Rickard Rakell.
With the Smith acquisition, it seems improbable that Pittsburgh will extend Jason Zucker, who held the top-six spot in the lineup Smith is expected to replace. The 31-year-old will be one of the better options on the UFA market among left wingers after recording 27 goals and 48 points in 78 games this year.
What exactly Vegas does with its newfound cap space remains to be seen. If they learn Lehner could be an LTIR candidate next season in the near future, they’d likely have enough flexibility to get a deal done to retain winger Ivan Barbashev. There’s no telling how long it will take to glean clarity into Lehner’s playing future, though, and Vegas will be forced to operate under the expectation they won’t have his LTIR relief until proven otherwise. If that’s the case, they could still sign a middle-six winger on the free agent market who’d command around the $2MM mark.
It’s still a bittersweet day for Knights fans, who have now lost fan favorites Smith, Marc-Andre Fleury, and Max Pacioretty to similar salary-dump moves in each of the last three offseasons.
ESPN’s Kevin Weekes was first to report the trade.
Damn that’s an awesome move by Dubas. Talk about weaponizing cap space.
but the cost is likely Zucker so it may just be a wash
Zucker hasn’t been good in a while…
But Zucker is going to want more than two years. The AAV maybe be about the same. But fewer years works better for the Pens.
Tell me you don’t watch the Pens without telling me you watch the Pens. One of the few players who brought it every night. Unfortunate injuries in a couple seasons, but he performed well when I’m the lineup
Love it.
LW for Geno?
yep
Pens determined not to acquire anyone under the age of 30.
wouldn’t make any sense to pull the plug now.
all in on another Cup run before Sid retires
Wow
Poor Reilly, From Stanley Cup Champion to aging dumpster fire.
just wait til Dubas acquires Hanifin and Hellebuyck
Is that Barby money?
Another scoop by Kevin Weeks! Funny how he’s turned into one of the top insiders now.
This could get bigger, The Golden Knights are willing to part with Logan Thompson.
There’s zero indication this is true. It’s just been reported that other teams have inquired (because why not?). Vegas has no reason to trade him.
Wow didn’t see this coming.
Thinking about it, smart move to now be able to resign Barbeshev. Much more production than Smith since acquiring him, especially in the playoffs where Smith was practically a ghost.
Just clarifying this as it got added later in the article – this would only permit them to re-sign Barbashev (in all likelihood) if they learn Lehner won’t be available for 2023-24 and can be LTIRed. That’s far from a certainty at this point, and unless they figure out something in the next few days, he’s likely gone.
Their CapFriendly page is a tad misleading as of now, as they don’t have the reported 2x$4.9MM extension for Hill added yet (it’s not been made official). That obviously eats up a fair amount of space.
Well Smith did have about 14pts in 22 playoff games so hard to say he was invisible, but getting rid of 5mil hit for 2 more seasons is great for vegas
Yeah truly didn’t realize he had that many pts. More accurate to say he seemed less impactful compared to regular season I suppose.
I mean, knowing Vegas, they may just be banking on Lehner being out and think “if he does come back, we’ll figure out the cap later.”
Lol and just like that Vegas announces they’ve signed Barbashev
I am correct in my prediction as always
BOOM!
#Back2Back
The newish VGK hockey fans will be so emotional an upset, but this was an outstanding move.
Vegas is a shrewd organization. Effective, buy I hate that a player can’t even enjoy his Cup victory for at least a month.
Absolutely agree. If the final had gone 7 games there would be even less time to savor the victory before creating cap space for next season. They really need to re evaluate how they schedule post season
Nicely done Dubas. Granted it wouldn’t have happened at the time, but this is how you use cap space as an asset—effectively just turned Teddy Blueger into Reilly Smith.
if he can pull off a Petry for Hanifin contract swap and trade Jarry for Hellebuyck, he’ll instantly be in the HOF for GM
And this kind of stuff is why Vegas was the most hated Cup winners of the last generation.
Pretty sure the Hawks take that distinction.
No, Nha is right. I’m pretty sure 97.3% of non Vegas fans hate Vegas – mostly because of their arrogant fans.
So not because of “this kind of stuff”?
But good point, arrogant fans are way worse than covering up assault scandals.
No one was hating the Blackhawks when they were winning Cups because of the assault scandal. No one in the public KNEW about the scandal when they were winning Cups.
Is it arrogance when you’re the best? Only philosophers can answer such queries….
Not sure how that’s better. But ok.
5 years of not winning with complete arrogance? Yes.
This year having Florida do your dirty work and take out Boston and Toronto then having a doddle to the cup – fair enough but VGK wasn’t even a top 3 team this year – rather just benefitted from being in an abysmally uncompetitive west.