The Pittsburgh Penguins sound open to moving veteran forwards, and that alone should have the Edmonton Oilers checking in with Kyle Dubas. It does not mean Edmonton has to jump immediately.
Elliotte Friedman’s Saturday Headlines update pointed to Pittsburgh’s interest in dealing experience for futures while carving out room for younger players. That puts Bryan Rust and Rickard Rakell front and center. Erik Karlsson is another possibility, and Evgeni Malkin would represent a much bigger shift in direction.
Edmonton ought to explore all four names, but Rust looks like the cleanest fit. Still, the right move depends on what the Oilers actually need by the deadline.
Rust would be the most well-rounded addition. He shoots right, can push the pace off the rush, wins pucks back and has the touch to finish around the net. That skill set would mesh with Connor McDavid’s speed and also give Leon Draisaitl another winger who can keep possessions alive.
His value isn’t just in scoring. The Oilers need help extending plays after the first chance goes begging, and Rust’s habit of battling through traffic fits that job description.
Rakell brings a different kind of appeal as a finisher. He also shoots right and has a knack for finding open ice away from the puck, which could work next to either star when defenders collapse on the puck carrier.
That’s the key distinction in Edmonton’s evaluation. Rust is the preference because he combines pace, puck pursuit and offense.
Rakell becomes the stronger play if the Oilers are creating enough chances already and simply need another winger who can cash in. Their contracts matter, too.
Rust carries a $5.125-million cap hit through 2027-28, while Rakell is at $5 million for the same span. Rakell also has an eight-team no-trade list.
Neither player is a rental, so Pittsburgh can ask for real value in return.
These are proposed valuation frameworks, not reported asking prices:
Oilers receive: Bryan Rust
Penguins receive: Edmonton’s 2028 first-round pick and a secondary prospect
Oilers receive: Rickard Rakell
Penguins receive: Edmonton’s 2027 second-round pick and a stronger prospect
Pittsburgh could ask for a first-rounder for Rakell as well. If retention is involved, or if Edmonton has to take back an unwanted contract, the price climbs. The Oilers need to weigh the whole deal, including any salary-clearing piece, before deciding which winger gives them the better return.
For Dubas, those kinds of offers bring in future assets and create more room for younger forwards. For Edmonton, the risk is paying a premium before knowing whether another scoring winger is truly the missing piece.
Karlsson is a different conversation. He would help Edmonton move the puck, and that passing ability could turn defensive recoveries into controlled exits while getting McDavid or Draisaitl into space before the opposition gets set. But that doesn’t automatically make him the answer on defense.
With Evan Bouchard already handling a big chunk of the offensive work from the blue line, Edmonton would have to explain where Karlsson fits and who is taking the tougher defensive minutes beside him. If the real issue is slot coverage or defending the cycle, another puck-moving defenseman might not solve the problem.
Karlsson still has $10 million on his deal through this season and owns no-movement protection, so any trade would need his approval and serious salary planning.
Oilers receive: Erik Karlsson with 50% of Pittsburgh’s remaining cap charge retained
Penguins receive: Edmonton’s 2027 second-round pick, Shakir Mukhamadullin and a prospect
That’s an opening framework, not a prediction that Pittsburgh would take it. Even with retention, Edmonton would still be on the hook for $5 million annually, and a bidding war could push the return closer to a first-round pick. Karlsson should stay in the mix only if the Oilers decide puck movement is the priority.
Malkin brings the biggest possible change to Edmonton’s forward setup. If the Oilers want McDavid and Draisaitl together more often, he could anchor a true second scoring line instead of leaving the top unit to do nearly all the work.
His passing and offensive instincts would force opposing coaches to account for another dangerous line. Edmonton could then build around him with wingers who retrieve pucks and handle more of the defensive work.
His one-year extension carries a $5.5-million cap hit through 2026-27. This could be his final season, though retirement is not established.
The bigger issue is whether he’s even available. Pittsburgh being willing to move veteran forwards does not mean Malkin wants out, and his movement protection means his approval would be required.
Oilers receive: Evgeni Malkin with 50% retention
Penguins receive: Edmonton’s 2027 second-round pick and a prospect
A stronger market could drive that price up to a first. At 40, his health and ability to handle second-line minutes would need close scrutiny. Until he signals a willingness to move, this remains more of a hypothetical fit than a realistic target.
Edmonton’s deadline situation adds another layer. The Oilers are projected to have about $4.12 million in deadline space, up from roughly $965,000 right now.
That figure depends on what happens with the roster, so it is not money they can count on without conditions. Waiting would also help clarify whether the biggest need is a finisher, a second-line center or another defenseman.
The downside is obvious: another contender could beat them to the best target.
Rust belongs at the top of Edmonton’s radar, with Rakell close behind. Malkin deserves a look if his situation changes.
Karlsson needs the clearest proof of need. The Oilers should make the calls now, but they should keep their assets until the roster shows exactly where they matter most.
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