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Pittsburgh Penguins Acquire Reilly Smith

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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.

Pittsburgh Penguins Shopping Jeff Petry

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It’s hard to claim Pittsburgh Penguins defenseman Jeff Petry had a disappointing season. After being acquired from the Montreal Canadiens in a swap for defenseman Mike Matheson, Petry improved on his offensive totals from the season prior, recording 31 points in 61 games, and he still managed to average over 22 minutes per game. His defensive impacts were also in line with what we’ve come to expect from the veteran defender.

However, the Penguins were hoping for a resurgence to his 2020-21 form, which saw him finish 13th in Norris Trophy voting. It didn’t happen, and with interim general manager Kyle Dubas now at the helm, Petry finds himself on the trade block again after just one season in Pittsburgh, confirms The Athletic’s Rob Rossi. The market for right-shot defenders is generally strong, but with Petry locked in at a $6.25MM cap hit until 2025 and a potentially significant decline coming at any moment, Rossi says there aren’t many quality offers out there for his services.

Kris Letang Wins 2023 Masterton Trophy

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Pittsburgh Penguins defenseman Kris Letang has won the Bill Masterton Trophy as the NHL player who best exemplifies the qualities of perseverance, sportsmanship, and dedication to hockey. The long-time Penguins rearguard was awarded the trophy over Clayton Keller of the Arizona Coyotes and Alex Stalock of the Chicago Blackhawks.

Letang suffered through a tumultuous season as he suffered a stroke in late November 2022, and in an incredible feat, he returned to the Penguins lineup just 12 days later, missing a total of five games. Unfortunately, after just eight games, Letang suffered a lower-body injury that forced him out of the lineup once again. When he returned to the Penguins lineup, he and the club were preparing for the Winter Classic when his father sadly passed away.

Letang returned to the club and posted a four-point game, including an overtime winner in a game that just felt like a storybook. Unfortunately, despite his best efforts, the Penguins fell short of the playoffs. However, Letang was still one of the Penguins’ best defensemen despite being 36 years old and being forced through the gauntlet. Letang finished the year with 12 goals and 29 assists in just 64 games.

Pittsburgh Penguins Hire Vukie Mpofu

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  • The Pittsburgh Penguins have announced that Vukie Mpofu is the new director of hockey operations and legal affairs. Newly hired Kyle Dubas made the announcement today on behalf of the franchise. Mpofu’s role will have a wide scope, but his main responsibilities will be to advise and assist the hockey operations department with salary cap compliance, contract negotiations, as well as compliance with the collective bargaining agreement and he will have an active role in the leadership of the Penguins hockey research and development department. The Saskatoon native has spent the past two years with the Los Angeles Kings as the manager of hockey operations and legal affairs and now joins the Penguins as one of Dubas’ first big hires as he builds out a new hockey operations department in Pittsburgh.

Dubas: Penguins Open To Taking On A Pricey Contract Via Trade

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  • Speaking to reporters yesterday including Matt Vensel of the Pittsburgh Post-Gazette, Penguins president Kyle Dubas indicated that he might be open to taking on a contract from a team needing to open up cap space this summer. Pittsburgh has around $20MM in cap room this summer per CapFriendly and while some of that will need to go toward re-signing or replacing goaltender Tristan Jarry, defenseman Brian Dumoulin, and winger Jason Zucker, they could have enough flexibility left to take on a pricey but capable player, giving them a boost as they look to get back to the playoffs.

Penguins Notes: First Round Pick, Buyouts, Free Agency

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Pittsburgh Penguins interim general manager Kyle Dubas held a brief media availability today, touching on many of the choices he’ll have to make as he guides the team through his first offseason at the helm. With the team in a tough situation, unable to truly rebuild after missing the playoffs for the first time in nearly two decades, Dubas has a thin line to walk to prepare the right roster for 2023-24 while not impeding the team’s long-term outlook.

One of those matters is that of Pittsburgh’s first-round pick, slated for 14th overall on Wednesday. It’s their highest selection since drafting defenseman Derrick Pouliot eighth overall in 2012, and Dubas says the team will likely keep the pick. Pittsburgh has some (but not a lot) of salary maneuverability, and Dubas says that any big trade will likely come with another team looking to shed a mid-tier salaried contract.

Other Penguins notes:

  • One avenue Dubas likely won’t take to clear additional cap space is a buyout. He told reporters today he doesn’t prefer to use them, citing more “creative solutions” to opening up a team’s financial picture. Forward Mikael Granlund, who had just five points in 21 games after a midseason trade and is under contract for two more seasons at $5MM per year, was a highly speculated buyout candidate this offseason. If the team can’t find a way to move him in a deal, he’ll likely be sticking around for the time being.
  • Dubas also says the team won’t be going after any high-profile free agents, instead aiming to hit on some value bets – something he had a great deal of success doing during his time with the Toronto Maple Leafs. He mentioned the door isn’t closed on contract extensions with Jason Zucker and Tristan Jarry, the latter of which is crucial for the team’s clarity without a ton of other goalie options on the open market. He alluded to defenseman Brian Dumoulin heading to the open market, and they’ll look to replace his spot with a more cost-effective UFA.

Pittsburgh Penguins Facing Big Decision On Jake Guentzel

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Josh Yohe and Rob Rossi of The Athletic write that the Pittsburgh Penguins have a big decision to make on star winger Jake Guentzel as the team enters the free agency period. The perennial 30-goal scorer has a year left on his contract at the bargain price of $6MM and is just a year away from reaching unrestricted free agency. Guentzel’s extension is a delicate balancing act for the Penguins as they are likely at the tail end of their window to contend and they have a lot of needs, but Guentzel remains Sidney Crosby’s favorite linemate and is still highly productive.

Guentzel had 36 goals and 37 assists last season in 78 games in what a lot of people considered a down year for the 28-year-old. He and Crosby were still able to provide much of the scoring for the Penguins, but they did have several cold stretches where they weren’t able to find the net. The team faltered in these stretches due to the lack of a strong supporting cast.

Yohe and Rossi wonder if the Penguins might considering trading Guentzel rather than signing him. The return for the player would likely allow the Penguins to fill in some of the many holes they have, but it would create big hole in their top-6 on Crosby’s wing. Yohe and Rossi point out the risk involved would be great, but signing a small, slow forward to a lucrative long-term deal on the wrong side of thirty carries a great deal of risk as well.

The Athletic projects that Guentzel’s next contract could have an average annual value around $9.2MM. That would make him the highest paid Penguin, and while Guentzel has been incredibly consistent throughout his career, he would spend much of his next contract without the benefit of Sidney Crosby as his center.

Guentzel is also one of the few roster players the Penguins have who doesn’t have trade protection, meaning that if Dubas and company want to turn over their underwhelming roster then Guentzel might be the biggest trade chip they could dangle.

Pittsburgh Penguins Re-Sign Valtteri Puustinen

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The Pittsburgh Penguins have taken care of business with one of their pending restricted free agents, re-signing forward Valtteri Puustinen to a one-year, two-way contract with a $775K cap hit. PuckPedia reports Puustinen’s deal will earn him $385K at the AHL level, a solid reward for a productive season in the minors.

Pittsburgh selected the 24-year-old in the seventh round of the 2019 NHL Draft as an over-age selection. It’s quickly looking like he’ll outpace a typical career trajectory of a late-round pick. The Finnish winger has produced back-to-back 20-goal seasons in the minors with the Wilkes-Barre/Scranton Penguins since coming to North America in 2021, and he scored an assist in his lone NHL appearance (which came in 2021-22). Puustinen’s 59 points in 72 games this season led the team, while his 24 goals finished second behind Alexander Nylander.

The NHL cap hit on his deal comes in a tad lower than the $787.5K qualifying offer he was due, but this contract guarantees him thousands more dollars at the AHL level than he would’ve received had he accepted a qualifying deal. He’ll be a restricted free agent again next year and will be due a qualifying offer of $814K, per PuckPedia. With the Penguins headed for some roster turnover this offseason, and considering Dubas’ past penchant for rewarding his AHL talent in Toronto, expect Puustinen to see a string of NHL games next year.

It’s the first signing in Pittsburgh for interim general manager and president of hockey operations Kyle Dubas.

Status Quo On Tristan Jarry Extension Talks

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  • LeBrun writes that Pittsburgh Penguins new boss Kyle Dubas has yet to approach the Tristan Jarry situation in any meaningful way and that things still appear to be status quo. Dubas has historically been reluctant to commit major dollars or term to goaltenders and given the injury history and inconsistency in Jarry’s game, it seems unlikely he would commit either to the 28-year-old. Jarry is likely looking for a long-term deal and a return to Pittsburgh seems unlikely unless the bottom falls out of the market, and he decides Pittsburgh is a good soft landing for him. Jarry went 24-13-7 this past season as he and the Penguins missed the playoffs for the first time in 16 seasons. The Surrey, British Columbia native posted a .909 save percentage for the second time in the past three seasons and has yet to demonstrate that he can win in the playoffs.

Should The Penguins Move On From Zucker?

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Jason Zucker had a strong showing for the Penguins this past season, notching 27 goals and 21 assists while, perhaps most importantly, staying healthy after a pair of injury-plagued years.  Despite that, Matt Vensel of the Pittsburgh Post-Gazette suggests that the prudent move for Pittsburgh would be to not bring the pending unrestricted free agent back for next season.  The 31-year-old is likely to be seeking a contract similar to the $5MM AAV he has played on the last five years and with the team needing to eventually transition toward becoming a younger and quicker team, locking up another player well into their thirties won’t exactly accomplish that objective.  Not bringing Zucker back would also give Kyle Dubas more flexibility to work with this summer, albeit with an extra opening of significance on his roster.

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