Could Penguins, Rangers Swap Bad Contracts? Young Trade Target to Watch

There will be no Stanley Cup Playoffs this season for the Pittsburgh Penguins, and unless there are sweeping changes designed to shortcut a rebuild, there will be no playoffs next season, either. The Penguins are not alone in their foibles, and with the surprising and disappointing failures of other teams, there will be opportunities on the NHL trade market.

To be kind, in his first 22 months on the job, general manager Kyle Dubas missed on most of his moves designed to improve the club. However, he has stockpiled a collection of draft picks that give him plenty of wiggle room to maneuver this offseason.

Among those moves that absolutely didn’t pan out was signing defenseman Ryan Graves.

Also, among the moves he could make this off-season is to trade Graves.

Graves’s game has collapsed under the weight of struggle in a Penguins uniform. His puck movement has become so tentative as to be detrimental. His statuesque presence on the blue line has created opportunities for opponents to cruise by without so much as a wave.

He’s much better than that, but the situation has worsened, not improved, over the last couple of months. It’s clearly in the player’s and team’s best interest that there be no reunion next fall.

However, a trade would appear impossible because Graves has four years remaining on his contract, which carries a $4.5 million salary cap hit and will take him to 34 years old.

Perhaps it only appears impossible, but it might not be undoable after all.

The New York Rangers have faceplanted this season. They followed up their Presidents’ Trophy-winning season with a drama-filled slog of losses, bickering, and more losses. In fact, GM Chris Drury, who has been on the job for only four years, is about to fire his third coach.

The Rangers are coach killers and need an expunging offseason, or an exorcism. The Penguins could help.

Chris Kreider has two years remaining on his contract, which carries a $6.5 million cap hit. He will win the imaginary Brandon Pirri Award for more than 20 goals and almost no assists. Kreider registered just 26 points (21-5-26) in 66 games (and counting) this season.

(In 2014-15, Pirri scored 22 goals with the Florida Panthers and registered just two assists).

Kreider is also essentially untradeable. While Graves has $18 million left on his deal, Kreider has $13 million.

Would it be too much for the Penguins to include a draft pick to balance the trade ledger? The Rangers got a good look at Graves when he was with the New Jersey Devils. The Rangers badly need to move Kreider, and both the Penguins and Graves need to move on.

With some give-and-take, it could work.

If it doesn’t work, both teams will be in a better position to buy out their new player one year from now.

And since Dubas is on the lookout for young players, the New York media is tossing Alex Lafreniere into the rumor mill, too. Lafreniere signed a seven-year extension worth $52.15 million, so New York figures to give him some breathing room before casting him aside, but if they’re open to a trade, the Penguins should knock loudly.

Tampa Trade Target

OK, stop me if you’ve heard this tale before: A college player who does not like the offer or opportunity to turn pro tells the team he will stay in school and become a free agent in a year.

Such was the case for Penguins winger Rutger McGroarty, who told the Winnipeg Jets he would not sign there and opted to return to Michigan before the Penguins acquired him last summer.

McGroarty was the 14th overall pick in 2022, and the Penguins traded Brayden Yeager, the 14th overall pick in 2023, to acquire him.

Perhaps there is a potential sequel?

Isaac Howard is the Tampa Bay Lightning’s top prospect, but he reportedly didn’t like their evaluation and chose not to sign with them when his Michigan State season ended last week.

Howard won the Hobey Baker Award on Friday. He’ll be a free agent in August 2026. In other words, the clock is ticking on Tampa Bay to convince him to sign or trade him before they lose him for nothing.

The stocky winger is not a great skater but a creative playmaker who can score (more parallels, eh?). Howard is 5-foot-10, 190 pounds, according to Michigan State’s info card. Tampa Bay selected him 31st overall in 2022, so he should cost about the same, if not a little less, on the trade market than did McGroarty.

The Penguins own the Washington Capitals’ 2025 second-round pick (Anthony Beauvillier trade) and three third-rounders. Perhaps Dubas can pry loose the young scorer without giving up a first-rounder, which, given the early-to-mid-round position of the Penguins coming first-rounders, would be a somewhat large overpay.

Howard, 21, had 52 points with 26 goals in 37 games this season. McGroarty also had 52 points in 36 games during his final collegiate season.

He’s not the center the Penguins’ prospect pool needs, but a winger who can create offense is never a bad thing.