Updated Penguins Salary Cap Space & Scenarios After McGinn Waivers

Pittsburgh Penguins GM Ron Hextall is chopping at his third line, and he might gain plenty of salary-cap space to replace it. First, he exposed and lost Kasperi Kapanen on waivers to the St. Louis Blues Saturday. Hextall surprised a few by putting Brock McGinn on waivers Tuesday, along with depth defenseman Mark Friedman, and the move could open serious cap space.

Our friends at PuckPedia.com have the current Penguins salary cap breakdown.

Friedman has gone through waivers multiple times this season. His entire $775,000 salary can be stashed in the AHL.

McGinn, 29, is in the second year of a four-year deal he signed with the Penguins as a UFA with a $2.75 million AAV. However, McGinn hasn’t registered a point in 26 games, dating back to December. Even as the Penguins blitzed Tampa Bay for a 7-3 win Sunday, McGinn didn’t have a shot on goal.

If he is unclaimed, he could stick with the Penguins or be assigned to the WBS Penguins.

Updated Pittsburgh Penguins Salary Cap

The maximum deduction for stashing a veteran in the minors is $1.15 million, so if unclaimed, Brock McGinn will count $1.6 million against the Penguins’ cap.

Friedman’s entire salary would not count against the NHL team if he is sent to Wilkes-Barre.

After losing Kapanen, the Penguins had the full-season equivalent of $1.8 million in salary-cap space. That number was to grow to $2.1 million Friday.

If McGinn clears waivers, the Penguins will have the equivalent of $4 million of full-season space.

The big news will come if McGinn is claimed, which seems very possible. Should a PK-desperate team snatch him off the wire, the Penguins’ cap space on Friday would be the equivalent of $5.625 million.

The NHL trade rumors have linked the Penguins to big names, so for illustration purposes only: Jakob Chychrun’s full-season AAV is $4.6 million. J.T. Miller’s AAV is $5.25 million right now, but balloons to $8 million next season and for seven more after that. Adam Henrique’s AAV is $5.825 million.

This season, McGinn has 15 points, including 10 goals. He is a regular member of the Penguins’ penalty-killing unit and third line. However, since signing his four-year deal with the Penguins on July 28, 2021, the speedy winger has just 37 points in 123 games.

The Penguins visit the Nashville Predators tonight and could have over $5.6 million in salary cap space on Wednesday afternoon.

Game on.

McGinn is in Year 2 of a 4 year $2.75M Cap Hit Deal.

Friedman is in Year 1 of a 2 year $775K Deal.

If both clear & are sent down, it would save $1.9M Cap Hit. If McGinn was claimed & Friedman claimed or clears, it would save $3.525M.https://t.co/i3paCOYQqr https://t.co/gBtgDuV0Nb

— PuckPedia (@PuckPedia) February 28, 2023