Penguins Want To Keep Erik Karlsson, Anthony Mantha

At the beginning of the 2025-26 season, it seemed like a foregone conclusion that the Pittsburgh Penguins would trade Erik Karlsson and use Anthony Mantha as a half-year rental before dishing him at the trade deadline. Now, according to Josh Yohe of The Athletic, the Penguins want both players on their opening night roster for the 2026-27 campaign, if not longer.

Before this season, Karlsson looked like a shell of himself, far removed from the Norris Trophy campaign during the 2022-23 season with the San Jose Sharks. From 2023 to 2025, Karlsson scored 22 goals and 109 points in 164 games with a -20 rating, averaging 23:45 of ice time per game. Additionally, his 87.2% on-ice SV% at even strength last season was the worst of his career.

Although that’s typically respectable production from a puck-moving defenseman in his mid-30s, it didn’t justify his $11.5MM salary, $1.5MM of which was being paid by the Sharks. It was particularly his drop-off defensively that had the writing on the wall in Pittsburgh.

However, under head coach Dan Muse, Karlsson has found new life. He’ll finish with similar point totals this year, but he’s been much more responsible in the defensive zone. His 53.8% CorsiFor% at even strength is the best he’s had since he was 28, and his 89.7% oiSV% at even strength is right on line with his career average.

According to Yohe, instead of trading Karlsson this offseason, the Penguins may look to extend him for a few more years. It would be an interesting gamble, given that Karlsson will be 37 for his next contract. However, if he maintains his production level and assumes a significantly lower salary, it might not be a bad idea.

Meanwhile, Mantha has made the most of his one-year, $2.5MM prove-it deal in Pittsburgh. After losing much of the 2024-25 season due to an ACL injury, Mantha has rebounded in a big way, scoring 26 goals and 52 points in 67 games for the Penguins.

Furthermore, as Yohe points out, Mantha is only 31, meaning he’s not necessarily old by NHL standards. It’s unlikely that the Penguins will engage in a bidding war if Mantha makes it to the open market this summer, but a four-year deal shouldn’t be out of the question given how he’s played this season.

Regardless, as much as the influx of youth has benefited Pittsburgh this season, its top five scorers are in their 30s. They’re a primary reason that the Penguins are poised for a postseason run for the first time since the 2022 Stanley Cup playoffs.