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More on Jarry’s Future with Penguins, Buyout Scenario

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Pittsburgh Penguins, Tristan Jarry. Trade value

Buried within Pittsburgh Penguins general manager Kyle Dubas’s impromptu press conference at the front of the Penguins locker room at their practice facility in Cranberry were a couple of nuggets that cut to the heart of the situation and goalie Tristan Jarry’s future with the organization.



The Penguins waived Jarry Wednesday, following yet another disappointing performance Tuesday. With several exceptions, Jarry has significantly underachieved this season, posting an .886 save percentage. That followed his exclusive pine time over the final month of last season.

And Dubas had enough.

Pittsburgh Hockey Now was told on Tuesday night that Dubas had reached a breaking point. While we weren’t provided with specifics, a galled Dubas left his box earlier than normal and wore his emotions as the Penguins blew a 2-1 lead third period lead and slumbered to a 4-2 loss against the Seattle Kraken.

The specifics emerged by Wednesday morning, and Dubas figuratively sent a message to the player and the team as well. If Jarry clears waivers, he will report to the WBS Penguins.

He is not expected to be claimed.

Wednesday, Dubas was surrounded by five cameras and a full throng of Pittsburgh media. Jarry’s departure coincided with a charity event in which the team signed a couple of children to one-day contracts as part of the Make-a-Wish foundation’s efforts, so there was extra media, as well as some of the Penguins’ in-house productions.

Conspicuously absent was Dubas stating a plan or offering Jarry a future with the club. Instead, Dubas indirectly referred to signing Jarry as a mistake.

“I think it would speak worse of me if it were a mistake, and we prolonged it and continued to try to force it,” said Dubas.

An underbelly of brusque finality dominated the general manager’s comments. The tone of Dubas’s voice and the curt nature of his answer regarding Jarry directly pointed to Jarry’s time with the organization coming to a close sooner than later, despite the goaltender having three years remaining on his contract after this season.

Joel Blomqvist, 23, was called up from WBS and will join Alex Nedeljkovic in the Penguins crease, presumably for the remainder of the season if all goes well (enough) for both.

Dubas also subtly prioritized the development of prospect goalies Filip Larsson and Sergei Murashov above Jarry’s path back to the NHL.

“But the other part is we have Filip Larsson, who has played well. We have Murashov in the ECHL,” Dubas said. “We’re mindful of keeping (their development) on the go because in the long run of the organization, they are vitally important.”

In order for Murashov and Larsson to have full access to their development path, they will need to be in WBS next season. That means Jarry cannot be.

Of course, circumstances and situations can change. Blomqvist may not claim his opportunity, injuries could become a factor, and trades could shuffle the depth chart. If the Penguins remain buried in the Eastern Conference playoff race, and a team puts forth a good trade offer for Nedeljkovic, it is hard to imagine Dubas saying no.

Jarry Buyout

A buyout would not be as onerous as one might imagine. Despite Jarry having three years remaining on his current deal, a buyout in June will be surprisingly affordable.

Our friends at PuckPedia have a buyout calculator.

The NHL buyout window opens following the Stanley Cup Final in (later) June. Some teams get a second buyout window, likely in August, if they have an eligible restricted free agent who files for arbitration.

It seems unlikely that Dubas will be able to trade Jarry. He admitted Wednesday he took phone calls over the summer but didn’t like what he heard. If he exorcised the buyout option in June, the costs will stretch over six seasons, ending in 2031. However, the final three seasons are minimum salary amounts.

Considering the coming salary cap spike to over $92 million and even higher in subsequent seasons, the Jarry buyout amounts in the final three seasons could be below the NHL minimum salary and less than 1% of the team’s cap structure.

The cap hits would be:

2025-26: $1,747,222  (a $3,627,778 savings)
2026-27: $5,047,222 ($327,778 savings)
2027-2028: $4,547,222 (A $827,778 savings)
2028-2029: $797,222 (a $797,222 cost)
2029-2030: $797,222 (a $797,222 cost)
2030-2031: $797,222 (a $797,222 cost)