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.
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Hey Rick,
First Rick, Let me remind you and everyone here that just a few short months ago when many Penguins fans were drinking the Kool-Aid, dreaming of a Cup run I clearly stated that last season’s team was a 1 and done playoff team and that GMRH should trade all 3 Rust, Letang, and Malkin if he couldn’t get contract extensions before the deadline. Rust and Letang would be easy trades, Malkin not so easy due to his NMC. GMRH would first have to get him to wave his NMC.
Unfortunately, the Pens didn’t get those extensions and in their psychedelic induced dreams of a Cup run, they not only didn’t get extensions on Rust, Letang, and Malkin, they didn’t get out of the 1st round. They finished exactly where their current talent level put them, middle of the pack.
Now, this off-season, the team is having to limit the damage of their short-sightedness. What I find interesting though is how you and Penguins’ management, and some other pundits, most of which also backed the idea of another Cup run at this season’s deadline, are now over valuing Letang compared to Malkin. The continued hata of the now Letang backers (some who were once Letang bashers) somehow doesn’t fill me with any confidence in their proselytization of that RHD.
1) I never waste time and energy on anyone who over-values themselves. If Letang thinks he is worth $8 million for 5 years, go, have a nice life.
2) On the surface, a lazy person would say Malkin is the more fragile of the 2. Letang works out like a fiend and keeps himself really, really fit. Superficially, he may look better. However, I am no fish. My memory stretches back longer than the last 3 seconds. I still remember that Letang has had a stroke and suffered several concussions. Reality is, clinically, he is by far, the more frail of the 2 players.
3) This team won its last Cup without Letang, he was injured.
4) This particular incarnation of Penguins made its first 2 Cup appearances and won its first Cup without Letang in a critical role.
5) This team needed Malkin in all 4 of its Cup appearances and therefore, all 3 wins.
6) Malkin has a Conn Smythe Trophy, Calder Trophy, 2 Art Ross, a Hart, and a Pearson Trophy, Letang – no hardware.
7) Teams can win Stanley Cups with only 1 really offensive Defensemen but need to be 2 deep in top line Centers. Matheson has shown that he can drive Reirden’s defensive-centric game 9That doesn’t mean I think this team could be considered a contender. I only write that for those still drinking the Kool-Aid)
No Rick, Malkin is/was/should have been the priority signing, if management were to court either or both players. At this point, if I were Malkin, I would tell Burke and Hextall to kiss the Netherworld regardless of what they offered me over this disrespect (waiting to see what Prima Donna Letang wanted before opening serious negotiations with me).
In the end Rick, the smartest move would have been to trade them at the trade deadline so that the team could have gotten something in return (another 1st round pick and Anton Lundl? – I would have loved that). Having failed that miserably, the team has no exit strategy for either Malkin or Letang. Failing to sign both of them will weaken this team greatly.
However, that should be an option that is on the table. Like ripping the band-aid rather than inching it off, the team may be able to recover faster, maybe even fall to get into the Bedard sweepstakes.
If the team wants to try and be as competitive as possible, Malkin would the more logical option. If anything happens to Sid, without Geno to back him up, this team is in serious trouble, if you are still trying to win. Goaltending can cover for weakened D, but nothing can cover zero scoring talent.
Hey Rick,
You know my feelings from long ago and they have not changed. I agree with Mike and Pens4Ever. Move on.
May I remind our esteemed audience to take a look at our beloved Bill Guerin and the mess he is in in Minnesota. Because of injuries and poor performance from Zach Parise and Ryan Suter the Wild had to buy out their ill conceived contracts and now because of all the dead Cap Space that was created,( 12.74 million this year and 14.47 million next year), they have NO MONEY to keep their good players. As a result GM Bill Guerin had to trade young Left winger Kevin Fiala to the Kings for a first round pick because he had no Cap Space to resign him.
At the time everyone thought the Wild signing Suter an d Parise to such long term contracts was the right thing to do.
It wasn't !! BTW Cap Friendly states that their contracts will be on the Wild's books until 2029. Think about that Rick.
If we sign Letang and Geno to long term deals with high salaries the same thing could happen to us. Geno is injury prone and Letang has a history of serious concussion issues. The risk is not worth it.
Move on....You will thank me in 3 years from now.
Cheers
Jim .... Happy Canada Day folks !!
Hey Jim,
Happy Canada Day to you and all of our friends from up North.
From what I am seeing, Letang wants $8 Million for 5 years. With his concussion and stroke issues, I would be leery of even 3 seasons at $8 million.
I really wish Pens management would be proactive and not reactive. I would rather be talking about haw Anton Lundl will look in a Pens uniform and who will the team be drafting with the pick they got for Letang, than wringing over which player Hextall/Burke should re-sign and/or how much they should be offering.
Rick
I agree it's time to move on. You can get several high end players with that kind of money at your
disposal. I can also say from experience having money to spend doesn't always translate to
getting the player or players that you want. I did feel like when the season came to an end it
would be Malkin who would ink a team friendly deal. I don't think Letang asking for 5 years makes
any sense at all unless he's willing to take a serious cut in pay or the 4th and 5th years are
team options. Hextall would be foolish to go down this road - it would eventually cost him his job.
GO PENS
Agreed Mike,
I would never sign either player to a contract like Letang wants and thought Geno could be talked into a team friendly.
Sometimes it is best to just rip that band-aid off.
Honestly, I think let them both go.
Time to look to the future.
Draft a replacement for Letang.
It has been talked about to death here... the window has closed.
Sorry to say guys if you can't stand back and see it, maybe get your eyes checked.
If Letang is resigned at $8-9million for 5 years and Geno at 7-8 million for 3 yrs.
And what if both go down hill fast, more injuries, terrible play, slowing down vs. a fast league... not worth it, for what... wild card spot and a first round loss again.
The East has a number of young, fast, teams.
We are not a contender with 58 and 71.
Put the money into scouting and developing for the future.
I am not a fan of Letang, but I do like Geno...if both are resigned its just a band-aid, a team just spinning its wheels, thinking they are a contender.
Just not a good idea to resign both.
Hey Pens4ever,
I am wondering if Jiricek's knee surgery will drop him to 21st. Last I saw, it only dropped him to 6th, I think. And then there is the question of if and/or when he recovers. The team needs to do better in the draft, but at 21st, they aren't getting a replacement for either Malkin or Letang this season.
Amen to improving the Scouting and development of players. I still am at a loss of why WBS played Nappier for all their playoff losses and didn't give Blomqvist a chance. He couldn't have done any worse.
Sorry that was me, tOR. Forgot to add my name.
I thought Blomqvist had military duties to fulfill?? That's why he didn't play much.
At 21 I realize we are not getting a replacement for 58 or 71, but a good prospect could drop in the draft depending on other teams needs.
David Jiricek won't be there at 21.. to good.
Blomqvist signed an ATO after the Finnish league's Playoffs ended and near the end of AHL season. He played 1 game for WBS. He stopped 25 of 27 shots. The team lost the game but it was hardly Blomqvist's fault when he stopped 0.927% of the shots. But the team's allergies to giving a kid a break runs up and down the organization and retards and possibly destroys their prospects development. They keep giving veterans that they know can't do the job TOI and Rookies and prospects press box time. Maybe they think that you develop your hockey skills by watching games. If that were true we all would be NHL All Stars.
Instead of Blomqvist who tracks the puck like an veteran All Star and who posted a 0.927 Sv%, our WBS coach opted to play Tommy Nappier even though Nappier's Sv% was 0.891
Maybe Blomqvist did get called back for Military duty but that would make signing him to an ATO just as ridiculous as the WBS coach not giving him playing time.
Hello Pens4ever,
You make a lot of good points and a very compelling argument for letting them both walk and taking our chances with the $23 million we have to spend.
Eventually, at least a semi-tear down and rebuild is coming. Signing Malkin and/or Letang in many of the ways you described would simply delay the inevitable.
Rick