Kyle Dubas and the Penguins have already cashed in their most obvious trade chips in Marcus Pettersson and Drew O’Connor. But Dubas is likely not done dealing, with the general manager exploring several pathways to acquire more young players and draft picks.
Who else could the Penguins move ahead of the NHL trade deadline on March 7?
To set the stage for what may come in the next three weeks, we have placed every player on the NHL roster into trade buckets based on their situation and availability:
UNTRADABLE TODAY
Before you ask, it is incredibly unlikely the Penguins will dump fan punching bags Tristan Jarry or Ryan Graves at the deadline. The disappointing veterans have negative trade value at the moment, and the rebuilding Penguins are not going to give up prized future assets just to unload bad — but not catastrophic — contracts.
PENDING FREE AGENTS
After a rocky start to his Penguins tenure, Matt Grzelcyk is now providing pretty good value on the one-year deal he signed last offseason. And the fact the Penguins have already traded another left-shot defenseman in Pettersson may increase the odds that they try to keep Grzelcyk if they don’t get a compelling offer for him now.
Anthony Beauvillier could appeal to teams that are looking to add speed and a little bit of secondary scoring. He has 12 goals, 18 points and a plus-3 mark in 56 games.
Veteran wingers Matt Nieto and Boko Imama and depth defenders Pierre-Olivier Joseph and Ryan Shea also fall into this bucket but may not generate any interest.
TERM, BUT ATTAINABLE
The Penguins value the contributions of fourth-line forwards Noel Acciari and Blake Lizotte and could very well hang on to both of them. But trading one could not only net them another future asset for their stash, but it would also open a lineup spot for one of their prospects. Of the two, Lizotte has the most internal and external value.
Kevin Hayes has been a snug fit in the veteran locker room, and all things considered, his play has mostly been OK. That said, if another team comes calling, as unlikely as that seems, Pittsburgh would be wise to move on and create more future flexibility.
Danton Heinen and Vincent Desharnais, the two players the Penguins just got back from Vancouver, are signed through next season but appear to merely be stopgaps.
IF YOU BLOW ME AWAY
Barring a surprise, Rickard Rakell will be the most valuable trade chip on the table for the Penguins. They are not certain to trade him because they do want to keep some quality NHL players around and he has good chemistry with the captain.
But the 31-year-old’s trade value probably will not get higher than it is right now. If Dubas can score another first-round pick for Rakell, he has to strongly consider it.
While he has less trade value than Rakell, Michael Bunting is in the same boat. The Penguins are not eager to deal him but would presumably do it at the right price.
In the last year, Dubas took fliers on former first-rounders in Cody Glass and Philip Tomasino. There have been enough positive moments from both forwards that you have to assume the Penguins would prefer to keep them around into next season.
And Alex Nedeljkovic is the type of friendly but competitive veteran partner you want to pair with a young goalie such as Joel Blomqvist. He’s expected to stick around.
THE TWO UNTOUCHABLES
As of now, Sidney Crosby and Evgeni Malkin both intend to play out their contracts here in Pittsburgh. In particular, Crosby seems pretty perturbed with the baseless speculation about him possibly leaving to play in Colorado or back home in Canada.
Likewise, Fenway Sports Group continues to signal it wants the two franchise icons to spend their entire careers in black and gold, and Dubas recently reiterated he does not intend to ask any players to consider waiving full no-trade clauses.
So tune out guys like Paul Bissonnette and Kevin Weekes for these next three weeks.
CHECK BACK THIS SUMMER
The Penguins want to also honor the wishes of Kris Letang. However, if he came to them and requested a trade, I believe they’d work with him to facilitate one that is mutually beneficial. Is that a real possibility? I don’t profess to know what Letang is thinking. But there’s been enough smoke in summers past to make one wonder.
Bryan Rust hopes to remain in Pittsburgh. But his no-trade clause expires after this season, so he will no longer control his future then. Despite his age and his track record of injuries, other teams around the NHL would covet the perennial 20-goal scorer.
Former Norris Trophy winner Erik Karlsson wields a full no-movement clause and must be on board with the idea of trading him elsewhere. Given his $10 million cap hit, doing that during the season would be prohibitive. It would be easier to pull off a Karlsson trade in the offseason, especially now that the salary cap ceiling will spike.
Just a hunch, but I would bet at least one of the three will get traded this summer.
POINT SHOTS
• I will set the over/under at 2.5 players dealt by Dubas and the Penguins before the NHL trade deadline, though those might just end up being relatively minor transactions. When the dust settles, the biggest trade could be the one they made two weeks ago.
However, as I alluded to earlier, it figures to be a fascinating summer in Pittsburgh. Will they hit the gas on contention or will it be another year of asset accumulation?
Either way, Dubas has the full support of Fenway Sports Group. Despite a few major missteps during his first offseason in Pittsburgh, their faith in him remains sky high.
• I anticipate we will see Mike Sullivan behind the bench next season, as well. If so, all those theories about him and young players are going to be put to the test.
• With the projections for this draft class starting to crystalize, there is a lot of talk in prospect media circles that the 2025 class will not be as strong as next year’s. But despite the lack of a no-brainer first overall pick, this will still be a good year to land a top-five selection. Which, you know, is relevant given where the Penguins stand today.
Three of the top five projected picks play in the Ontario Hockey League — including Matthew Schaefer, just up the road in Erie. He’s got some Cale Makar to his game.
• As for the top-13 protected pick the Penguins are getting from the Rangers via Vancouver, I keep going back and forth on whether the Penguins should want it to convey this year. There will be a wide range of outcomes next season for the Rangers, who have a lot of star power but a bunch of important players in their 30s.
If it becomes a 2026 first, look for Dubas to shop it hard for an NHL-ready youngster.
STICK TAPS
Sidney Crosby. This sandbagger shook off the upper-body injury that sidelined him last week and was the best player on the ice in Canada’s 4 Nations Face-Off opener.
Erik Karlsson. He’s been flying for Sweden thus far, which begs the question ... Why don’t we see that more often here? Still, his talent really stood out in that setting.
Rickard Rakell. Rakell went from being a 4 Nations snub to skating on Sweden’s top line in their first games of the tourney. Props to him for responding the right way.
YOU ASKED...
How bright is the future with all these draft picks and young talent and when will it all come together? (Will Sid still be here, ya know?) Thank you!!
— Marc Stockton (@MarcStockton5) February 12, 2025
Dubas has done well over the last 12 months to bring in a bunch of draft picks and exciting prospects such as Rutger McGroarty, Ville Koivunen and Harrison Brunicke. That has deepened the prospect pool and likely raised the floor of the post-Crosby era. Penguins fans are not going to endure another “X Generation” situation here.
That said, it remains to be seen if Dubas will achieve his stated goal of building the Penguins back to perennial Stanley Cup contention, let alone before Crosby retires.
The Penguins and their scouts must hit big on a few of their many, many picks over the next three drafts, acquiring the young studs they need to make deep playoff runs.
STAT N’AT
15 — Trades made by Dubas and the Penguins since last March, dating back to the Jake Guentzel deal. Dubas continues to be one of the NHL’s most active executives.
FINAL BUZZER
Closing out the column with a shoutout for an upcoming event that looks like fun for local hockey fans while also raising funds for Pittsburgh I.C.E., which aims to give kids from socioeconomically diverse backgrounds an opportunity to play hockey.
The organization is hosting its inaugural “Goalie Game” on Feb. 28 at the Hunt Armory rink in Shadyside. A bunch of local goalies will strap on all of their gear and skate out in this charity game. Cue up the “Yakety Sax” song from “The Benny Hill Show.”
A bunch of former Penguins players will be there, too. They are set to include Colby Armstrong, Ryan Malone and Ken Wregget. Wregget will be one of their coaches.
For ticket information or to donate to Pittsburgh I.C.E., visit www.pittsburghice.org.
First Published: February 16, 2025, 10:30 a.m.
