The Penguins are in that awkward middle where the market has gone wild and the roster is already packed. Free agency has been picked clean, and the trade prices have climbed into territory that now demands top-10 picks, premium prospects, and more. So the real question becomes simple: when the phone rings, how far would you go?
Here’s the short version from PHN’s view: mostly not far enough.
The first name on the table is Shane Wright, and the proposed cost is Harrison Brunicke plus maybe a second- or third-round pick going to Seattle. PHN says no, even after Tommy Novak’s three-year extension.
The reasoning is straightforward: Brunicke is viewed as a soon-to-arrive NHL defenseman with above-average offensive upside, and that kind of player carries real long-term value. Wright might fit the Penguins, but not at that price.
Jason Robertson draws the same response. One scenario sends Ben Kindel, two No. 1 picks, and Rickard Rakell to Dallas.
Another asks whether three first-rounders and Rutger McGroarty would be enough. PHN still lands on no.
The second offer is close to what Dallas took from Seattle - three first-round picks and a “young player” - but the belief here is that Pittsburgh should trust its own timeline. The Penguins are expected to have a strong chance at higher picks in coming seasons, and there’s confidence those selections could still turn into major value.
In this view, patience wins.
The one area where the answer gets more complicated is the veteran core. PHN says it would have cleared room rather than re-sign Evgeni Malkin, especially with the Ville Koivunen contract in place.
Malkin doesn’t block anyone in a literal sense, but the deal still takes up a spot that could have gone to a younger player. That matters with McGroarty, Koivunen, Avery Hayes, and the newly acquired forwards Hendrix Lapierre and Nick Robertson all in the mix.
Keeping Malkin also makes retaining both Bryan Rust and Rickard Rakell make sense as a package, but PHN sees upside in Lapierre, Robertson, and that broader group. In a rebuild, the point is to let one or two of those players grow into real NHL roles instead of fighting over scraps.
Erik Karlsson is the hardest call of all. PHN says trading him for a lottery-protected first-round pick would be a painful decision, maybe one that wouldn’t even be made until mid-season.
Still, the answer leans yes, maybe. Karlsson was brilliant last season, but unless he’s willing to sign an extension, he doesn’t really fit the future.
A deal like that would help the organization more in the long run than chasing a playoff spot without a real Stanley Cup path. The caveat is obvious: if Karlsson is open to an extension, then a later first-round pick isn’t enough to move him.
There’s also the reality that the market may not be huge, in part because of his no-trade clause. Keeping him on an agreed extension could still help the team stay competitive.
But without that, holding on to him starts to look like leaving rebuild assets on the table.
And then there’s Sidney Crosby. That’s the one place where the answer changes the least.
PHN says it would keep him unless Crosby asks for a move. As the rebuild picture sharpens, the value of a leader like Crosby only grows.
He doesn’t just help young players win faster; he keeps the whole process from spinning off course. Without that kind of presence, a locker room and an organization can drift fast.
In Other News...
Penguins Double Down On A Farm System Plan Fans Should Notice
The Penguins are making a point of continuity in the places where prospects are supposed to take their next steps. Pittsburgh announced the coaching staffs for Wilkes-Barre/Scranton and Florida for the 2026-27 season, keeping Kirk MacDonald in charge of the AHL affiliate and Brad Ralph at the helm of the ECHL club. Several assistant coaches and support staff were also confirmed or moved up, a sign the organization is leaning into a more stable development structure across both levels.
For a team trying to build better habits from the bottom up, these decisions matter almost as much as the moves at the NHL level. Wilkes-Barre/Scranton remains the critical bridge for players closest to Pittsburgh, while Florida continues to serve as a proving ground for younger prospects and depth pieces. The staff announcements do not grab the same attention as a trade or a draft pick, but they do tell you something about how the Penguins want their system to look in the years ahead. [Read more 🡒]
Penguins Forward Logjam Is Fueling A Frustrating Debate About Youth
Ville Koivunens new eight-season extension has only sharpened the conversation around how the Penguins are handling their forward group and the next wave of talent. A player with limited NHL experience and production landing that kind of commitment is the sort of move that usually signals belief in a long runway, but it also lands at a time when the roster already feels crowded enough to make every opening feel precious. For a team trying to balance present-day competitiveness with a real look at the future, that is not a small question.
The debate gets even louder when the path for young forwards is already so narrow, because the Penguins are not the only club facing this kind of squeeze. Torontos crowded forward depth has become a cautionary example of how quickly prospects can get boxed out when veterans, proven middle-six pieces and contract decisions all pile up at once. For Pittsburgh, the issue is less about one player than the larger choice it keeps facing: how much patience to show with youth before the roster structure starts making that patience harder to sustain. [Read more 🡒]