The Penguins may be heading toward a familiar fork in the road with Erik Karlsson: keep him through the season if they’re in the hunt, or deal him if the year goes sideways. Either way, the sense around the league is that a new contract is not likely to be part of the picture.
Karlsson is in the final season of his eight-year deal and carries a $10 million cap hit. Pittsburgh made the playoffs after a strong 2025-26, and the organization has been trying to push forward with a re-tool rather than tear things down. That approach has shown signs of life, with a younger core that includes Ben Kindel, Egor Chinakhov, Tommy Novak, Nick Robertson, and Sam Girard.
Still, Josh Yohe of The Athletic said, “I’d be surprised if they give Karlsson a new deal after this season, despite his brilliance.” (from Penguins mailbag: Kyle Dubas’ plan, Erik Karlsson’s future and the Jason Robertson sweepstakes, The Athletic, July 20, 2026)
Yohe added that if the Penguins are competitive, he expects them to keep Karlsson past the trade deadline and let him reach free agency. If they fall out of the race, a midseason move becomes more realistic.
RG’s Jimmy Murphy then floated the Toronto Maple Leafs and Ottawa Senators as possible landing spots before the season begins. Toronto had been a logical fit, though the addition of Darren Raddysh makes that look a little less clean.
Ottawa, meanwhile, could still make sense even beyond the obvious nostalgia. Karlsson remains one of the franchise’s all-time greats, and the Senators have reportedly been looking to upgrade the right side.
He could also fit nicely next to Jake Sanderson.
Vladislav Gavrikov’s situation in New York sounds unsettled as well. He left the Los Angeles Kings for the Rangers hoping to play meaningful hockey in a major market, but the results have not followed. The Rangers have gone through plenty of change, including the departures of Artemi Panarin, Vincent Trocheck, and a good chunk of their depth.
They have added pieces too, bringing in Pavel Dorofeyev, Marcus Pettersson, and Sean Durzi, along with other depth moves. Even so, after finishing 30th last season, the Rangers do not appear set up for a major jump in 2026-27.
Gavrikov is only entering the second year of his deal, but there are already signs he may not be thrilled with the direction of the team. Arthur Staple said on the Rangers Recon podcast, “There are still whispers that Gavrikov is not super happy with the direction of the Rangers…If things go bad, is he going to be a guy in Drury’s office saying ‘I think I’d like to go somewhere else’?”
If it comes to that, there would be no shortage of interest. Gavrikov didn’t have a strong season himself, but his play with the Kings was strong enough to earn him a $49 million contract with the Rangers.
He has term left, a manageable salary, and the profile teams always chase: a left-shot defenseman with strong defensive impact. If he asks out, Chris Drury should have a healthy market waiting.
And in Chicago, Jonathan Toews may still have one more ceremonial stop with the Blackhawks. After Patrick Kane returned, general manager Kyle Davidson said the team would love to have Toews back, much like they did with Marian Hossa.
Toews left the Blackhawks in 2022-23, then stepped away for two years because of chronic health concerns before joining the Winnipeg Jets. He played one season for his hometown team and later announced his retirement.
A one-day deal would let him officially retire as a Blackhawk, a move that has become a familiar tradition for players with deep ties to one club. It is symbolic, but it matters to players, teams, and fans alike.
The Penguins even had Marc-Andre Fleury come back on a one-day professional tryout, and he appeared in part of a preseason game.
With Kane back in Chicago, plenty of fans would love to see one last preseason moment with Showtime and Captain Serious together again before Toews closes the book on his career.
In Other News...
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Ottawas offseason additions were made with a clear purpose: give the roster more ways to handle the grind of a division that figures to be anything but forgiving. The Senators have spent enough time trying to climb back into relevance that the next step is less about promise and more about proving they can live with the pressure that comes from playing in a crowded Atlantic.
The challenge is obvious, with Tampa Bay, Montreal, Buffalo, Toronto, Boston and Detroit all part of the same traffic jam. In a tightly packed Eastern Conference, Ottawa should be in the playoff conversation for a long stretch, but the real test may be whether the Senators can stay close enough to matter when the standings finally begin to sort themselves out. [Read more 🡒]
Senators Face A Familiar Trade Dilemma As Staios Protects The Core
The Senators are still working the trade market with a pretty clear shopping list: a scoring winger and a top-four right-handed defenseman. That search has already brought familiar names back into the conversation, including Flyers defenseman Rasmus Ristolainen, but the bigger takeaway for Ottawa is just as important. Steve Staios is looking to add without touching the center group, which keeps Dylan Cozens, Shane Pinto and Ridly Greig out of the discussion.
That stance says plenty about where Ottawa sees its core, even if it leaves the club in the same familiar spot of trying to improve around the edges without sacrificing the middle. It is the kind of balancing act that can define a season for a team trying to take the next step, and it also means the Senators may have to be patient if the right fit on the wing or the blue line does not materialize quickly. [Read more 🡒]