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.
Trade Deadline Primer: Pittsburgh Penguins
With the Olympic break upon us, the trade deadline is under a month away. Where does each team stand, and what moves should they be looking to make? We continue our look around the league at teams on the playoff bubble; next up are the Penguins.
The Penguins spent the summer collecting what appeared to be spare parts, and many expected them to be a top contender for the first overall pick in this summer’s NHL Entry Draft. That has not been the case, however, as the Penguins have defied projections and their own uneven play to find themselves not only in the hunt for a playoff spot but also in a position to earn home-ice advantage in the first round of the NHL Playoffs. It’s been a fun, feel-good story thus far, but it has certainly changed the calculus for Penguins GM Kyle Dubas as he heads into the trade deadline. What once appeared to be a surefire sell-off now feels as though it could turn into a conservative shopping spree for the Penguins.
Record
29-15-12, 2nd in the Metropolitan
Deadline Status
Conservative Buyer
Deadline Cap Space
$53.52MM on deadline day, 0/3 retention slots used, 46/50 contracts used, per PuckPedia.
Upcoming Draft Picks
2026: PIT 1st, PIT 2nd, WPG 2nd, PIT 3rd, SJ 3rd, NSH 6th
2027: PIT 1st, PIT 2nd, NYR 2nd, PIT 3rd, NJ 3rd, WPG 4th, PIT 5th, PIT 6th, PIT 7th
Trade Chips
The Penguins have no lack of trade chips heading into this deadline, which is something they haven’t been able to say all that often in recent years. Pittsburgh has built a healthy backlog of prospects and a robust stockpile of draft picks for the coming years. That said, GM Kyle Dubas has shown a willingness to pivot from the plan slightly if it makes sense to bring in young, controllable talent. In some cases, Dubas has brought in talent along with futures, but the deadline may be an opportunity for Pittsburgh to move some pieces out for a bigger piece.
So, who could Pittsburgh trade? Well, last summer’s trade chips are probably not on the table, given their playoff positioning. That list includes Bryan Rust, Erik Karlsson and Rickard Rakell, and unless Pittsburgh is blown away, it feels like all three will remain with the Penguins. In fact, it feels like most of Pittsburgh’s current NHL roster is safe for this season, because it is a tight-knit group, and it would be hard to tell the veterans that they need to subtract talent.
But what about in the minors? One potential chip is 2022 first-round pick (21st overall) Owen Pickering. The hulking defenseman hasn’t progressed as Penguins management would have hoped, but he shows signs of being an NHL defenseman, possibly even in the team’s top four. Pickering has long been viewed as a defenseman with a very high ceiling. He is mobile, has good size, and is reasonably skilled with the puck on his stick. That said, Pickering remains a project, and there is work to do on the defensive side of his game. Pittsburgh has been patient with his development, but you have to wonder if the Penguins might see him as another potential Samuel Poulin, a former first-round pick who ran out of chances and watched his trade value fall to nothing. Pittsburgh has to make a call on Pickering soon, and they could leverage him as trade bait before that decision is made.
Another prospect who has fallen out of favour this season is Ville Koivunen. The forward was a key piece in the Jake Guentzel trade two years ago and showed enough last season to have people thinking he would be part of Pittsburgh’s top six this year. He had chances this season, but his play was uninspired, and he was quickly returned to the AHL, where he has been fantastic, posting 25 points in 20 games. Koivunen has a ton of skill and hockey IQ, but he isn’t overly big or strong, nor is he fleet of foot. He will rely on his smarts to score, but there is an adjustment to the NHL game Koivunen hasn’t made yet. Given that Koivunen is probably Pittsburgh’s highest-skilled prospect, it’s hard to imagine them dumping him in a deadline move, but anything is possible.
Finally, we return to the NHL roster and the possibility of moving a player off it. While it seems unlikely that Pittsburgh makes any major changes with the big club, there is always the possibility that a team blows them away with an offer for one of their veterans. Rust, Rakell, and Karlsson aren’t likely to be moved, but a player like Noel Acciari probably wouldn’t be off limits. Acciari has formed a formidable fourth line with Blake Lizotte and Connor Dewar and is a free agent this summer. Pittsburgh isn’t likely to re-sign the 34-year-old, but Acciari has played well enough to get paid this summer. If a team made a strong enough offer, one would have to believe Pittsburgh could be persuaded to move him if it improved their long-term future.
Team Needs
A Right Shot Defenseman: It’s easy to look at the Penguins’ defensive core and think their bigger issue might be on the left side, but Pittsburgh is banged up on the right side. Kris Letang is out, as is Jack St. Ivany, and with those two hurt, the right side looks very thin. Ryan Shea has been filling in recently, but his performance has declined, and he looks uncomfortable in his current role. Right-handed defensemen are historically hard to acquire, and given that Dubas has been stockpiling assets, he probably isn’t interested in turning a bunch back to acquire a stopgap. An under-the-radar trade feels likely here rather than a big addition, but Dubas is nothing if not unpredictable, so it wouldn’t be a shock to see him look for a longer-term solution if it fits the bigger plan.
Top Nine Forward Help: The Penguins look set up front and able to roll four consistent lines. However, they lack depth beyond their top 12 forwards and struggled when several forwards were sidelined by injury in December. Pittsburgh lost 9 of 10 games during that stretch as the loss of Evgeni Malkin, Anthony Mantha, and Justin Brazeau eroded the team’s depth. Given the Penguins’ history of injuries, adding an extra top-nine forward might be a wise move to prepare for such an unfortunate series of events. The Penguins don’t need to break the bank to acquire an additional body and could certainly shop the bargain bins to add a bit of depth just in case they run into injury troubles in the final weeks of the season.
Penguins Issue Multiple Injury Updates
Pittsburgh Penguins general manager Kyle Dubas issued a long list of injury updates in his latest GM Show. Most notably, winger Rickard Rakell remains approximately three-to-four weeks away from a hand injury sustained on October 25th. He was forced to undergo surgery for the injury and was desginated as out six-to-eight weeks at the time. He remains on track with that original designation with this update.
Forwards Justin Brazeau and Noel Acciari are seven-to-10 days from making their own returns, per Dubas. Both players are currently on injured reserve with upper-body injuries and were cleared for contact at Wednesday’s practice per Seth Rorabaugh of Tribune-Review Sports. Anthony Mantha (maintenance day) and Joona Koppanen (illness) missed practice.
The updates represent a long list of injuries that Pittsburgh has been forced to work around. Multiple absences at the forward position has put pressure on the Penguins’ rookies. Benjamin Kindel has taken on a carved-out role on the team’s third-line, and has been joined by wingers Rutger McGroarty and Ville Koivunen. Pittsburgh also recalled Tristan Broz for his NHL debut last week. The shakeup hasn’t worked in the Penguins’ favor, marked by a lowly 5-5-3 record in November. But they’ve seen plenty of reason for optimism, with Kindel posting six points in 11 games to go with Pittsburgh’s list of young prospects rotating into the lineup.
Pittsburgh has managed to cling onto an Eastern Conference Wild Card spot despite their quiet month. That perserverance could pay off when they begin returning veterans to the lineup. Rakell is a top-line winger on the Penguins. He has eight points in nine games this year, and posted a career-year last season with 35 goals and 70 points, both personal-bests. His chemistry with Bryan Rust and Sidney Crosby is outstanding, and gives Pittsburgh a top-line to fear when all three are at full health.
Brazeau was another one of Pittsburgh’s hottest scorers to start the season. He managed six goals and 12 points in Pittsburgh’s first 12 games, marks that still rank him sixth on the team in scoring despite the fact that Brazeau has missed more games (13) than he’s played. He’ll face a tough task returning to that scoring – and a 27.3 shooting percentage – but should be a major addition to Pittsburgh’s middle-six. Acciari, despite his up-and-down play, should also push for third-line minutes. The two will bring size, grit, and veteran experience to the parts of Pittsburgh’s lineup that have had to lean on rookies the most.
Pittsburgh could be a few weeks away from upgrading a lineup that’s already in the playoff discussion. The Eastern Conference has proven extremely competitive this season, but a .911 save percentage in 11 games from Tristan Jarry has proven enough to platoon the Penguins’ record while they wait for their offensive firepower to get back to full health. How Pittsburgh is able to respond to a long list of injuries, and if they can maintain this pace, will become central stories as the NHL approaches 2026.
Metropolitan Notes: Mantha, Chinakhov, Martone
While the Penguins are known to be selling, they did make an intriguing addition in free agency earlier this month as they signed winger Anthony Mantha to a one-year, $2.5MM contract with another $2MM in bonuses tied to games played. Speaking with reporters yesterday including Matt Vensel of the Pittsburgh Post-Gazette, the 30-year-old indicated that he has fully recovered from the torn ACL that ended his 2024-25 campaign after just 13 games. Mantha also noted that Pittsburgh showed interest in him last summer but he ultimately signed a one-year, $3.5MM pact with Calgary. With 303 points in 507 career NHL games, Mantha, if healthy, could be an intriguing piece for the Penguins next season, both as a player and a potential trade candidate.
More from the Metropolitan:
- For the second straight summer, the Blue Jackets are dealing with a public trade request. While there wasn’t much of a market for Patrik Laine a year ago, Brian Hedger of the Columbus Dispatch opines that this shouldn’t be the case this time around when it comes to winger Yegor Chinakhov, who made his request public last week. With Chinakhov making a much more affordable $2.1MM (compared to Laine’s $8.7MM) and being on the final year of his contract, he should have a decent market, one that should allow Columbus to land an NHL-proven piece coming the other way.
- After committing to play for Michigan State yesterday, Flyers prospect Porter Martone will not be attending training camp in the fall, GM Daniel Briere acknowledged to Kevin Kurz of The Athletic (subscription link). Martone was the sixth overall selection in the draft last month but decided the best thing for his development would be to go to college, a decision he kept Philadelphia informed about along the way. Martone could theoretically still make his NHL debut next season as he’d be a potential candidate to sign once his season with the Spartans comes to an end.
Penguins Sign Anthony Mantha
July 2: It took a while to finalize, but a one-year deal is being finalized between the Penguins and Mantha, per Renaud Lavoie of TVA. He’ll land a $2.5MM base salary with up to $2MM in additional performance bonuses, which he’s eligible for as a veteran of at least 400 NHL games who spent at least 100 days on injured reserve in the previous season. His performance bonuses will pay out $250K for each set of 10 games he plays, per PuckPedia.
July 1: The Penguins are working on a contract for UFA winger Anthony Mantha, David Pagnotta of The Fourth Period reports.
As expected, Pittsburgh is operating around the fringes during this free agency period. Mantha is coming off a down season with the Calgary Flames, scoring only three goals and seven points in 13 games before having his season cut short by injuring his ACL and requiring surgery.
Still, he’s only one season removed from having a quality year between the Washington Capitals and Vegas Golden Knights. During the 2023-24 campaign, Mantha scored 20 goals and 34 points in 56 games with the Capitals, before scoring another three goals and 10 points in 10 games with the Golden Knights after being moved at that season’s trade deadline.
If the Penguins promote some of their younger players to more significant roles next season, Mantha will provide stability at the lower end of their forward lineup. If players like Rutger McGroarty and Ville Koivunen struggle with the increased ice time, Mantha will likely be allowed to play in the team’s top six.
Already 30 years old, Mantha could find far worse centers to play next to than Sidney Crosby and Evgeni Malkin. By happenstance, Mantha could have a quality rebound season next to two of the game’s most prominent players, and look to capitalize on that financially next offseason.
PHR’s Brennan McClain contributed significantly to this article.
Anthony Mantha Out For Season, Needs ACL Surgery
Flames forward Anthony Mantha‘s season is over after 13 games. The team announced he requires surgery to repair an ACL injury, which he’ll undergo on Thursday.
Mantha sustained the injury nearly a week ago, but the team had been silent about a potential timeline for his return. He suffered the ACL tear, likely a complete tear given the return timeline, after falling on his right knee following a hit from Canadiens forward Emil Heineman last Tuesday. He landed on injured reserve Thursday, at which point Flames head coach Ryan Huska said Mantha was still being evaluated.
It’s devastating for Mantha, a veteran looking to prove that last season’s resurgence was no fluke. Various injuries have plagued Mantha for much of his career, but never costing him as much time as this ACL tear will. After breaking the 20-goal plateau twice in his career early on with the Red Wings, Mantha seemed to rediscover his form last year, potting 20 goals in only 56 games with the Capitals before they were able to get a pair of draft picks from the Golden Knights at the trade deadline for his services. He finished the campaign with three goals and seven assists in 18 games for Vegas before hitting unrestricted free agency, where he landed a one-year, $3.5MM prove-it deal from the Flames.
This year, Mantha had four goals and three assists, although he also recorded a career-low 1.15 shots per game. He averaged 13:54 per game, his lowest as a full-time NHLer, and recorded eight blocks and 16 hits.
Mantha, 30, will now have plenty of time to recover before testing the UFA market again next summer. He’ll be on injured reserve for at least 100 days this season, meaning he’ll be eligible to sign a contract with performance bonuses.
Meanwhile, the Flames lose a veteran presence who they hoped would help add some punch to their depth scoring. Calgary, which has dropped to 7-5-3 following their early-season tear, are clicking at a 20th-place 2.80 goals per game, and even with Mantha not shooting the puck as much as they’d hoped, they’ll need to get more out of their young players to replace his production.
2021 first-round pick Matthew Coronato, who was assigned to the AHL for a brief period earlier this season, seems to be the one who stands to benefit most from the increased opportunity. He’s quickly heating up with five goals and an assist through 10 games, recording 18 shots on goal while averaging 14:12 per game.
Thanks to his earlier IR placement, Mantha is already off the active roster, but his $3.5MM cap hit is still in full effect. Given their $23.5MM in current space, it’s unlikely, but if the Flames need increased financial flexibility, they can move Mantha to long-term injured reserve at any time.
Flames Place Anthony Mantha On Injured Reserve, Recall Dryden Hunt
Flames winger Anthony Mantha has landed on injured reserve, per Wes Gilbertson of Postmedia. Head coach Ryan Huska told reporters earlier in the day, including Sportsnet 960’s Pat Steinberg, that Mantha was still undergoing evaluation for a lower-body injury and would miss tonight’s game against the Bruins. The open roster spot is going to forward Dryden Hunt, who the team announced has been recalled from AHL Calgary.
Given his IR placement is retroactive to his last game (Nov. 5), Mantha will miss Calgary’s next three games and can return as soon as next Tuesday against the Canucks. The organization has yet to give him an official injury designation, so it’s unclear how much time, if any, he’ll miss past the mandatory minimum.
Mantha suffered the injury on Tuesday versus Montreal after falling awkwardly on his right knee after a hit from Emil Heineman. He got up under his own power and skated off the ice, albeit slowly, without the assistance of a trainer. He didn’t return to the game.
It’s been an inconsistent start in Calgary for Mantha, who inked a one-year, $3.5MM contract in free agency. The 6’5″ winger had two goals and two assists in his first three games but has gone cold since then, limited to three points in his last 10 appearances.
He’s averaging only 1.15 shots on goal per game, something Huska recently said has to change. “You saw tonight, there were multiple times he was standing right in front of the net,” Huska told reporters (including Gilbertson) after Sunday’s loss to the Oilers. “That’s how he scored his goal. And for a guy that is his size and has his ability with the puck, that’s what we need out of him.”
Kevin Rooney will enter the lineup in Mantha’s place after sitting as a healthy scratch three times in the last seven games, per Derek Willis of Sportsnet 960. Hunt comes up to serve as an extra body in case the Flames sustain any more injuries up front and need a last-minute fill-in. The 28-year-old had eight points in 28 games for Calgary last year and has 10 points in 12 AHL games so far this season.
Image courtesy of USA Today Sports.
Pacific Notes: Oilers, Tocchet, Mantha
The Oilers announced multiple hockey operations promotions and additions today, chief among them confirming Zack Kassian‘s return to the organization as a pro scout, as previously reported. But that wasn’t the only notable hiring.
They’ve also promoted former NHLer Warren Rychel to their director of pro scouting. Edmonton didn’t have that role in the organization last year – it was included in assistant general manager Brad Holland’s responsibilities. But they needed to fill Holland’s duties by committee after mutually parting ways with him on Tuesday. Rychel had served as a pro scout with the Oilers since the 2022-23 season and will have his job filled by Kassian.
Edmonton also added Dominik Zrim, a co-founder of the now-defunct CapFriendly, as their director of hockey strategy. He’s held similar roles with the Blackhawks and Sharks over the past few years as well.
More from the Pacific Division:
- 2024 Jack Adams Trophy winner Rick Tocchet has no worries about his future in Vancouver despite not having a contract past this season. He said on a radio appearance today that his “strong relationship” with GM Patrik Allvin and president of hockey operations Jim Rutherford leaves him “not at all concerned” (via Sportsnet 650’s Brendan Batchelor). The 60-year-old worked closely with the pair as an assistant coach with the Penguins from 2014 to 2017. He’s guided the Canucks to a 70-35-13 record (.648%) since taking over for Bruce Boudreau midway through the 2022-23 season.
- The Flames expect Anthony Mantha to be one of their top scoring chance generators this season after inking him to a one-year, $3.5MM contract in free agency. He said to reporters today that head coach Ryan Huska told him he’ll likely be among Calgary’s leaders in ice time among forwards and wants him to “shoot almost 300 pucks,” per Sportsnet’s Eric Francis. Mantha, 30, had 23 goals and 44 points in 74 games between the Capitals and Golden Knights last season and has started camp in Calgary on a line with Jonathan Huberdeau and Martin Pospisil.
Flames To Sign Mantha, Bean, Cooley; Extend Sharangovich
The Flames are landing UFA winger Anthony Mantha on a one-year deal worth $3.5MM, Sportsnet’s Elliotte Friedman reports. They’ve also signed forward Yegor Sharangovich to a five-year, $5.75MM AAV extension, per his agent Dan Milstein. He was entering the final year of his contract.
Additionally, Calgary is closing in on a two-year deal worth under $2MM annually for defenseman Jake Bean, per Daily Faceoff’s Frank Seravalli. TSN’s Chris Johnston clarifies the AAV is $1.75MM. Milstein also adds they’re signing Devin Cooley for goaltending depth on a two-year deal worth $775K annually. It’s a two-way deal in the first year with a $400K AHL salary.
Mantha is looking to rebound off a disappointing finish in what appeared to be a strong season. In 56 games with the Washington Capitals to start the season, Mantha put together 20 goals and 34 points before being traded to the Vegas Golden Knights for a pair of draft picks. Unfortunately, the experience in Vegas did not pan out for either side as Mantha collected three goals and 10 points in 18 games after the trade before finally being scratched in the 2024 Stanley Cup playoffs.
After a season of change in Calgary, Mantha will be looking to provide a full year of quality production with increased opportunity. The Flames top six has seen multiple changes over the last calendar year and Mantha represents a capable option to plug into the team’s top-six. It’s a low-risk contract for a team that will likely attempt to move on from Mantha at next season’s trade deadline.
In addition to Mantha, the Flames organization made a sizeable commitment to Sharangovich a year after the team acquired him from the New Jersey Devils. Sharangovich played extraordinarily well in his first season in Alberta as he scored 31 goals and 59 points while appearing in all 82 regular season contests. With the extension kicking in July 1st, 2025, Sharangovich will not need a new contract until after the 2029-30 NHL season.
The Flames also pounced on Bean after the Columbus Blue Jackets decided not to tender him a qualifying offer — making him an unrestricted free agent. Bean is set to get more of an opportunity in Calgary as the team could slot him next to Daniil Miromanov in the team’s top four.
Lastly, the Flames organization adds Cooley from the San Jose Sharks organization as a third-string goaltender. Getting his first taste of NHL action last year, Cooley put up a 2-3-1 record over six starts and held a .870 save percentage and 4.98 goals against average.
West Notes: Goodrow, Mantha, Pettersen
The San Jose Sharks were reportedly on Barclay Goodrow’s no-trade list (as per Elliotte Friedman on The Jeff Marek Show) with the New York Rangers. Goodrow was claimed off waivers yesterday by the Sharks and will be returning to the place where his NHL career started back in 2014-15.
Friedman hadn’t spoken to Goodrow directly but noted that the 31-year-old wasn’t happy with the situation as the Rangers hadn’t told Goodrow he would be placed on waivers until the last second. Goodrow had a 15-team no-trade clause and could have worked with the Rangers to find a suitable trade, but ultimately the Rangers elected to take the easier path with Goodrow and let him go for no return through waivers.
In other Western Conference notes:
- Catherine Savoie of RDS is reporting that the Vegas Golden Knights have told pending unrestricted free agent Anthony Mantha that they will not be re-signing him before July 1st. The trade deadline acquisition was acquired from the Washington Capitals for a second-round pick in this year’s draft and a 2026 fourth-rounder. The 29-year-old tallied 23 goals and 21 assists in 74 games with Washington and Vegas and is unlikely to match the four-year, $22.8MM contract he signed with the Detroit Red Wings back in 2020. Vegas has just $6.2MM in available cap space going into the summer and still needs to sign a couple of players.
- The Dallas Stars have signed depth forward Emilio Pettersen to a one-year, two-way contract extension (as per PuckPedia) that will cover the 2024-25 season. The new deal will see the 24-year-old collect $775K at the NHL level, while he will pocket $120K in the AHL. Dallas acquired Pettersen back in March from the Calgary Flames in exchange for forward Riley Damiani. He then joined the Stars AHL affiliate and posted four goals and four assists in 12 games. The former sixth-round pick has yet to make his NHL debut and will likely provide AHL depth for the team this season.