Connect with us

Penguins

Malkin is Staying; Gets Four-Year, $24.4 Million Contract

Published

on

Pittsburgh Penguins, Evgeni Malkin

The Pittsburgh Penguins made perhaps the most stunning free-agent signing of the year, and they didn’t wait until the signing period began to do it.

Evgeni Malkin accepted a four-year deal with a $6.1 million salary-cap hit Tuesday night, preventing him from becoming an unrestricted free agent at noon Wednesday.

His cap hit mirrors the one on the six-year deal Kris Letang agreed to last week. Malkin’s new contract runs one year longer than teammate Sidney Crosby’s has remaining on it, although there’s been no indication that Crosby intends to retire when it expires.

The Penguins’ reluctance to add a fourth year to their offer to Malkin had been a point of contention earlier in the negotiations, although it apparently had been on the table for at least a few days.

The deal is believed to include a full no-movement clause, which means Malkin could not be traded unless he agrees to the deal.

“Evgeni is a generational talent who will be remembered as one of the greatest players in NHL history,” GM Ron Hextall said. “His hockey resume and individual accomplishments speak volumes about him as a player, and we are thrilled to watch him continue his remarkable legacy in Pittsburgh.”

Malkin, Letang and Crosby have been part of the core of the franchise for the better part of two decades, and all three have spoken of their strong desire to finish their careers with the Penguins.

That didn’t seem likely to happen for Malkin when talks between his agent, J.P. Barry, and the Penguins broke off Monday. At that point, he was expected to explore free agency Wednesday.

Malkin, who will be 36 on July 31, was the Pittsburgh Penguins’ first-round draft choice in 2004.

He ranks in the top five in franchise history in most major statistical categories and won Stanley Cups in 2009, 2016 and 2017.

While there is an obvious risk to committing so much term and cap space to a player who has had a couple of significant injuries in recent seasons, Hextall had pledged to re-sign Malkin and Letang if it could be done with numbers that would work for the Penguins.

Malkin’s signing leaves Hextall with a little less than $3.4 million to finish filling out the roster for the 2022-23 season. They are expected to be in the market for a couple of bottom-six forwards, although it’s possible that Hextall could make a trade to open some cap space for a more significant move.

Also, restricted free agent Kasperi Kapanen needs a contract after receiving a qualifying offer Monday.

Subscribe to PHN+
39 Comments
Subscribe
Notify of
guest
39 Comments
Inline Feedbacks
View all comments
DaGama
DaGama
1 month ago

Insanity defined,

James
James
1 month ago
Reply to  DaGama

Malkin isn’t the problem Jack. So you can take your insanity to the psych ward if you want. Goaltending, defense, scoring, and special teams win or lose stanley cups. What’s driving people mad is that they think players like Malkin and Letang are losing them first rounders and it’s consistently not the case. But hey, they ARE on the team, so best to cut out the core to fix the extremities right? No. Hence the crazy. The extremities are the wrongs this team needs to right. I’ve been saying this since the season ended. It’s difficult to build a stanley… Read more »

Last edited 1 month ago by James
Irish Hammer
Irish Hammer
1 month ago
Reply to  James

A true Yinzer that never played Sports and I can only imagine a physical specimen! Jack, don’t go there? Anybody knows me would tell you don’t. This teams leadership can’t win? 4 straight years? Yes team is soft and small and not fast anymore. Lockers are a Country Club. I know, Big Ben should be playing for a couple more years. High School QB s have stronger arms. Teams done. Enjoy the fall.

Phil
Phil
1 month ago
Reply to  Irish Hammer

Its ridiculous when I see you personally attacking people. Have you ever played sports?? Hes a 100% right! And you saying this leadership group cant win? After winning 3 Stanley cups together is ludicrous. You do know there are 32 teams in league. Everyone trying to win a Stanley cup. Meaning it’s not EASY. It’s hard to win the cup. So if you hate this team and fan base that much move on! Oh and you talking about professional athletes something you know about.

moe
moe
1 month ago
Reply to  Phil

Yah there are 32 teams and they all want to win the cup, and Pens have FIVE Cups in the last 30 odd years! Amazing.

Phil
Phil
1 month ago
Reply to  moe

Yes, it is some people are acting like this team finished with 40 pt season. We had 103 pt. And completely out played NYR. This team has alot of young players in their mid 20’s. So I think the present and future are still very bright. The only mid 30’s vets are Crosby,malkin,carter,letang. I think this is a solid roster for years to come. We still must make some more moves. But we have it really good as a fan base. 5 cups total. 3 since 2009 its ridiculous when people are complaining that nothing is good enough. And if… Read more »

Rob
Rob
1 month ago
Reply to  James

Love it James!

moe
moe
1 month ago
Reply to  James

Well said.
The goalies or lack of them screwed us the last two cup runs anyway. Bad defence which cannot clear out in front of the goal,not tough enough, and no secondary scoring during the JR management years the last two years carried on with RH.

Irish Hammer
Irish Hammer
1 month ago
Reply to  DaGama

They just destroyed this team. The new Blackhawks in couple years. Burke and Hextall are a disgrace and will be known for destroying this team. Crosby got him signed. Hopefully he can play more than 50 games. Been over 3 yrs. Every see him in person? A pro athlete like 25 percent body fat in his like 33. Think it was 3 yrs ago. I can’t wait to see Rangers run them. The next Pirates of Pittsburgh. What a disgrace.

Jay95
Jay95
1 month ago
Reply to  Irish Hammer

The Blackhawks have $30.5 million tied up in their top two forwards and top D man. The Pens have $20.9 million given to theirs. The Blackhawks lack depth. The Penguins have Guentzel, Rust, and Rackell all on the wing with market value contracts or better.

The only issues with this club were late era GMJR moves and contacts. Hextall had some an amazing job so far.

Pete
Pete
1 month ago

We are screwed. A 2 center with a minus rating. Cant do the same thing and expect different results.
Lets hope he can play 50 games.

JICS
1 month ago
Reply to  Pete

I knew it was too good to be true – he always has to make a “big splash” and be the center of attention – and they always fall for his antics! or his pouting!

Sallie
Sallie
1 month ago

Well, ownership doesn’t want to be Stanley Cup competent, just playoff competent. They’ll sell more jerseys and more tickets and rah, rah. And we’ll be bounced out of playoffs again. Ok. It’s their choice.

Jay95
Jay95
1 month ago
Reply to  Sallie

This team had as good of a chance as anyone to come out of the east last year. They soundly outplayed the Rangers in the first round and only lost due to their TOP TWO goalies getting injured.

Jay95
Jay95
1 month ago

Wow! My mind is blown… In a positive way.

Steve
Steve
1 month ago

That $3.4 remaining is mostly tied to Kapanen unless a move is made.

Jay95
Jay95
1 month ago
Reply to  Steve

Yeah. I’m guessing he’ll get around 2.5 of it…maybe 3. So, the Pens have a top line, a full second line, 2/3rds of a 3rd and 4th line. They’ll have to move Petterson or Dumo to fill out the rest of the lineup even if it’s league minimum players.

Troy Garrah
Troy Garrah
1 month ago
Reply to  Jay95

I would trade Dumoulin (too many hard miles on that body), and Zucker (injury prone). That would leave close to 10 mil to find a top four Dman, and second line winger (assuming that Kapanen cost around 2.8).
O’Connor and Zohorna are capable of playing 3/4 line minutes. I’d like Pens to go get ZAR as a 1.5/yr, to help shore up the PK and part of a defensive shut down line.
This team is top 10 on the league and capable of winning the Cup- fans should be pumped about this year!

Steve
Steve
1 month ago
Reply to  Troy Garrah

If they trade Dumoulin or Pettersson, it will be so either P-O Joseph or Friedman (or a combo of those two) take a third pairing spot with Matheson and Dumoulin/Pettersson ahead of them on the depth chart. Leaves them possibly needing a third line winger and some fourth line help with–spitballing here–$3 million to spend. And they can more or less sign some people on the cheap and go to camp with what they have. I don’t know that any of this will be resolved quickly, and that’s fine. Of course, I thought Malkin was gone and then he wasn’t.… Read more »

Chris R
Chris R
1 month ago

Thrilled! Can’t help thinking that Sid threw an absolute xxxx fit, though, which made Hextall come around.

Irish Hammer
Irish Hammer
1 month ago
Reply to  Chris R

Thanks Did, at least your buddy in Colorado will let you hold the Cup. You’ll never be close again to win. You and your buddies along with these yinzers can make excuses! Like the last 4 years.

Greg
Greg
1 month ago

This is the fun part of the signing. The core is made up of 3 aging superstars. Your not going to get 100 points out of the two centers. 30+ goals and a bunch of assists? Leadership should be a given out of the 3. They need support more than before from the other players. They can still play, but take over a game consistently, there best hockey is behind them. A couple of slick trades and you never know. Things can change.

Jay95
Jay95
1 month ago
Reply to  Greg

Sid’s still capable of 100pts and Letang is the same player he’s always been. Plus, they do have a ton of support on those top two lines. Guentzel is one of the best goal scorers in the game right now. Rust and Rackell are both legit top 6 winners. And, a healthy (that’s hard to feel positive about though) Zucker is actually a very good player.

However, they HAVE to be able to move Dumo or Pettersson to get proper depth.

Mark Fisher
Mark Fisher
1 month ago

Great deal for Geno and the Pens.

Gary Donnor
Gary Donnor
1 month ago

Well, I believe this proves that the organization has chosen to pursue ticket and jersey sales instead of the Cup. I’m disappointed because I don’t think they can transition without a total rebuild. I enjoy nostalgia as much as the next guy but I don’t think it will win a Stanley Cup.
I’d love to be wrong but….

Jay95
Jay95
1 month ago
Reply to  Gary Donnor

I can understand where you’re coming from, but I’d disagree. If you take a look at the other centers capable of being a legit 2C, they would have either cost more, or have been a significant drop off from Geno.

This was the best move the Pens could have taken in the current environment. Plus, Hextall had no choice but to move a defender to fill out the offensive depth. So, he’s not done.

Crazyhorse87
Crazyhorse87
1 month ago

That’s one for the team, it is reasonable, cloning the first four years of Letang. Maybe time to try bring up a couple of players, you never really know, give it a shot to see who they click with in the big league. I don’t know if anybody will take Pettersson, you never know, make way for Joseph anyways.

Katherine
Katherine
1 month ago

Fantastic news! Happy dance!

Rob
Rob
1 month ago

A replacement would have cost way more most likely. I do think this team as it stands needs some tweaking. The core isn’t and hasn’t been the problem. The players around them have been underwhelming to say the least. I have to believe this team is not done with moves this offseason. They are going to have to clear cap space and let the younger, not ready players see what they can do. Hex has no choice now because 3 mil isn’t enough to fill the roster out. Its going to be another winning team next season, I am looking… Read more »

bokonon80
bokonon80
1 month ago
Reply to  Rob

Trochek just signed for $5.625 against the cap and is 7 years younger.

Charles Edward Fromage
Charles Edward Fromage
1 month ago

You won’t find a trio of franchise players on any other NHL team that are on such bargain contracts as the Pens core guys are. These guys can still compete. Say what you want to about last season and the tough playoff loss, but that team could have made some serious noise. The difference between winning and losing in the Stanley Cup playoffs is so slim. This Pens team can still be a contender, I have no doubt about that.

Hot wings cliff
Hot wings cliff
1 month ago

I would rather have seen him leave then get someone more defensive minded a gem in the rough

joe CURSI
joe CURSI
1 month ago

Now hopefully we get a salary dump!!!

Ed Andrews
Ed Andrews
1 month ago

please sign Boyle

David
David
1 month ago

I like this deal. The reason I like it is because if the Pens are going to win another SC they are going to have to do it in the next couple of years. After that, they are going to rebuild anyways. So go for broke NOW. I don’t care if they end up with 40 pts a year after that — that kind of mediocrity is what got the Mario and Sid. Win NOW. It is true that Malkin may end up playing 50 games and being a bust moving forward. But if he can play at least as… Read more »

PenguinsFAN
PenguinsFAN
1 month ago

so dumb, waste of money on Letang and Malkin, we could’ve signed some young players, Mark my words, one or both of these players will go on IR, because of their age… They’re future HOF, but you cant play the emotional thing when it’s business, BAD Move by pittsburgh penguins organization…. with the same players, these guys aren’t going anywhere except they will make the money from people coming to watch live…. BAD MOVE

bokonon80
bokonon80
1 month ago

I’m not going to argue good/bad deal and instead just state facts: Pens now have $4m left in cap space. Kapanen gets 3/4 of that. Which leaves you with $1M to sign a 3rd and 4th line winger, which will be tough. And doing so just gets you back to the same team as last year, except a year older.

Bob
Bob
1 month ago

Who do you rather have as Pen’s 2C?

Giroux 3Y@6.5 AAV
Malkin 4Y@6.1 AAV
Trocheck 7Y@5.625 AAV
Copp 5Y@5.625 AAV

Jack
Jack
30 days ago

Big mistake signing Malkin. He is inconsistent in his play , has a glass body , stupid penalties , joke of a fighter, and defense is nonexistent. We need more grit to extend the season .

Join PHN Extra!

Join PHN+ today for exclusive content from Dan, Dave and Shelly plus a completely Google ad-free experience.

PHN+

Or enter your email below to sign-up for our mailing list.

Thank you!

Something went wrong.

No thanks. I don't want.