Tanger or Geno: Who Should the Penguins Sign?

With the start of free agency looming just around the corner and Penguins stalwarts Evgeni Malkin and Kris Letang still unsigned, pressure is mounting to get deals done.

If only it were that simple.

Indeed, if GM Ron Hextall signs the black-and-gold legends, he’ll likely be paying somewhere in the neighborhood of $16-17 million annually for their services (my best guess), which would leave roughly $6-7 million in cap space to sign or replace our remaining batch of UFAs/RFAs. A group that includes forwards Brian Boyle, Danton Heinen, Kasperi Kapanen, Rickard Rakell and Evan Rodrigues, defenseman Nathan Beaulieu and goaltenders Casey DeSmith and Louis Domingue. Collectively they pulled down about $13 million last season.

Even if Hextall was able to swing a cap-saving deal by jettisoning, say, Brian Dumoulin, Marcus Pettersson or Jason Zucker (not happening), we’d still be running a deficit.

Clearly, something has to give.

In all likelihood that means signing Malkin or Letang, but not both. Of the two, who should the Pens prioritize?

Personally, I think Letang is the clear-cut choice. The 35-year-old defenseman enjoyed arguably his finest season in 2021-22, establishing new career highs in assists (58) and points (68), tied for fifth-best in the league among rearguards. Thanks to his superb conditioning, Tanger continued to handle a huge workload (25:47 ATOI) with remarkable ease.

He’s physical (171 hits), blocks shots (122), drives the transition game and quarterbacks the power play (20 man-advantage assists). His decision-making has improved with age.

Did I mention he’s a right-handed shot?

This isn’t to suggest Malkin is chicken feed. Far from it. The rangy Russian scored a highly respectable 42 points in 41 games coming off major knee surgery while notching 20 goals. A 40-goal clip over a full season. And he accomplished the feat without the presence of anything resembling a productive set of wingers on his line.

However, as potent and dynamic as Geno still can be, I’d argue that he’d be easier to replace than Letang.

If the Pens fail to sign No. 58? Mark Madden recently opined that our postseason streak ends if Letang walks and I agree. Simply put, there’s no way to replace all the things he does. Not with prominent UFAs-to-be John Klingberg (Dallas) or Jeff Petry (Montreal). Certainly not from within the organization.

Accordingly, President of Hockey Operations Brian Burke affirmed that signing the mercurial defender is a top priority during a recent podcast of The Jeff Marek Show.

“We’ve made determined efforts to meet with and to sign Kris Letang,” he said. “Less determined with Malkin only because we have to know how much money we have to work with, and we have to put this jigsaw puzzle together.”

Apparently negotiations have been anything but smooth. According to reports, Letang is thought to be asking for a five-year deal in the neighborhood of $8-9 million. The Pens are apparently balking at the term and perhaps salary, too.

With time running short, it appears the two sides might be too far apart to get ‘er done.

If a miracle occurs and the Pens do sign Letang? Look for us to let Malkin walk. Unless, of course, Geno agrees to a significant hometown discount. However, if Letang leaves for greener pastures and a bigger payday, I expect GMRH to make a concerted push to sign Malkin. At least partly in an effort to placate Sidney Crosby and the fan base.

Securing Geno for, say, $7.5-8 million on a three-year-deal would still leave roughly $15 million to flesh out the lineup. Not a king’s ransom given all the holes to plug, but a decent amount to work with all the same.

A longer shot would be to let both Geno and Tanger leave, which would open up $23 million in mad money for Hextall to use for an overhaul. Perhaps providing an opportunity to sign a high-profile free agent like Nazem Kadri or Pittsburgh-native Vincent Trocheck. Or play on those Vancouver connections and deal for another local son, J.T. Miller, a 99-point scorer under contract for one more season at a favorable cap hit of $5.25 million.

Any way you slice it, expect there to be a changing of the guard this off-season. And with it, a shift in the Pens’ fortunes.

Whether those fortunes go north, south or sideways is anybody’s guess.