The Pittsburgh Penguins are sitting in a strong spot financially, and one NHL analysis says only one team is in better shape.
Harman Dayal, Sean Gentille, and James Mirtle of The Athletic ranked all 32 clubs’ cap situations ahead of free agency opening on July 1, and they placed the Penguins second overall. Their reasoning starts with the basics: Pittsburgh still has work to do just to reach the salary floor, but that should change once new deals are done for RFA winger Egor Chinakhov, forward Hendrix Lapierre and goaltender Artūrs Šilovs.
The Athletic pointed to Chinakhov’s impact after Pittsburgh acquired him from Columbus, noting that he “produced like a top-sixer,” while Šilovs is expected to be “at least a 1B option moving forward.”
The bigger picture, according to the piece, is that Kyle Dubas has his eyes on a different kind of move. The expectation is that he will chase higher-end pieces on the trade market, specifically younger NHL players who can help both next season and in the post-Sidney Crosby era. The cap space is there for that purpose, even if the Penguins eventually circle back to the kind of low-cost, upside bets that have worked for Dubas in the past, with Mantha cited as the leading example.
Pittsburgh does have some decisions to make on the open market. Anthony Mantha, Ryan Shea, and Noel Acciari are among the team’s notable UFAs. But with so much room to work with, the Penguins can either bring some of those players back or use the space to find replacements.
With the core locked into long-term deals and the salary cap continuing to rise, Pittsburgh’s financial outlook remains one of the cleanest in the league.
In Other News...
Penguins Finalized Development Camp Roster Comes With A Few Concerns
The Penguins are set to open development camp Monday at the UPMC Lemieux Sports Complex in Cranberry, and the roster offers the usual mix of fresh faces and a few early reminders that July is still more about evaluating than celebrating. Five of the teams six 2026 draft picks are expected to take part, along with a sizable group of undrafted free agents, and the practices and Friday tournament will be open to the public as the organization gets a first real look at its newest prospects.
There is, however, a small wrinkle attached to the list. Three forwards, Will Horcoff, Mac Swanson and Melvin Fernstrom, are marked injured but will still be around camp, which keeps them in the mix even if they are limited on the ice. The only draft-class prospect not expected to attend adds another layer of curiosity to a camp that already feels worth watching, especially with so many young players looking to make an impression in front of Penguins evaluators. [Read more 🡒]
Kyle Dubas May Have Quietly Won Two Important Penguins Deals
Kyle Dubas did not land a splashy summer headline with Blake Lizotte or Connor Dewar, but the Penguins general manager may have quietly done something just as useful during the regular season. Both forwards were extended on short-term money that keeps the cap commitment manageable, and in a league where bottom-six depth can get pricey in a hurry, that matters. The deals also give Pittsburgh a little more certainty around two players who have fit well enough to earn trust without forcing the club into long, expensive commitments.
The broader appeal for the Penguins is what those contracts avoid. Around the NHL, comparable role players have been getting longer terms and higher price tags, which can clog up flexibility fast if the fit is merely solid instead of essential. Lizotte and Dewar may not move the needle on their own when it comes to Pittsburghs bigger picture, but they do give the team a cleaner financial path and a chance to keep building without overpaying for familiar depth. [Read more 🡒]
Jason Robertson Trade Saga Just Took A Much More Serious Turn
Jason Robertsons future has become one of the leagues more interesting summer watch items, and Pittsburgh has stayed in the conversation for a reason. The restricted free agent turned down an offer from Seattle and reportedly showed no interest in St. Louis, which only adds to the sense that his next move will be more complicated than a simple fit-and-sign scenario. For the Penguins, the appeal is obvious: they have the cap flexibility to make a serious run at him if the opportunity opens up.
The harder part is getting Dallas to the point where a deal makes sense for them, and that is where the process has slowed. Pittsburgh is being viewed as a club looking to do something meaningful, but interest alone does not close the gap on a player of Robertsons stature. The Penguins may still be in the mix, though the bigger question now is whether they can put together the kind of trade package that would keep the Stars engaged. [Read more 🡒]