The Penguins have signed franchise icon Evgeni Malkin to an extension for the 2026-27 season. The deal calls for $5.5 million in base salary, plus incentives.
Since I was literally in transit to my job when I learned of this and have no time to write a more personalized summary, I’m going to pull news of the announcement from the Penguins’ web site. But needless to say, I’m thrilled. I’ll even go as far to say, “It’s A Great Day for (Penguins) Hockey.”
From the team:
“The Pittsburgh Penguins have re-signed forward Evgeni Malkin to a one-year contract extension, it was announced today by President of Hockey Operations and General Manager Kyle Dubas.
The deal runs through the 2026-27 campaign and carries an average annual value of $5.5 million.
A three-time Stanley Cup Champion (2009, ’16, ’17), Malkin has played all 20 of his NHL seasons with the Penguins, where he ranks in the top-three in team history in all major statistical categories including games played (1,269, 2nd), goals (533, 3rd), assists (874, 3rd), points (1,407, 3rd), power-play goals (187, 3rd), game-winning goals (89, 2nd) and overtime goals (14, 2nd). Only Sidney Crosby (21) has played more seasons in a Penguins sweater.
The seven-time NHL All-Star has won a plethora of individual awards, including two Art Ross Trophies (2009, ’12) awarded to the NHL’s regular-season scoring leader, one Hart Trophy (2012) awarded to the league MVP, one Ted Lindsay Award (2012) given to the “most outstanding player”, one Calder Trophy (2007) awarded to the league’s rookie of the year as well as one Conn Smythe Trophy (2009) given to the NHL’s playoff MVP. Malkin, who became the 48th player to score 500 goals in NHL history in 2024, was also voted Penguins Team MVP by his fellow teammates on five separate occasions.
Some of Malkin’s most iconic performances have come in the Stanley Cup Playoffs. The 6-foot-5, 213-pound forward was instrumental to the team’s 2009 Stanley Cup Championship run where he was awarded the Conn Smythe Trophy after posting a league-best 36 points (14G-22A). In doing so, he became the fourth-youngest Conn Smythe winner in NHL history at 22 years, 10 months. Malkin also led the NHL in playoff scoring during the 2017 postseason, recording 28 points (10G-18A) in 25 games en route to his third Stanley Cup. Malkin ranks 12th in all-time NHL postseason scoring with 183 points (69G-114A) in 183 playoff games while only Crosby (206) has more playoff points in franchise history than Malkin.
The 39-year old Malkin is one of just 40 players in NHL history to eclipse the 100-point plateau three times or more (2008, ’09, ’12), and is one of just eight active players to do so. The 50-goal scorer (2012) has averaged a point per game or better in 16 of his 20 seasons, a mark that only four players have accomplished in NHL history. Since entering the league in 2006-07, Malkin ranks fourth in the NHL in goals (533) and third in assists (874) and points (1,407).
Malkin, a native of Magnitogorsk, Russia, is one of the most accomplished Russian players in NHL history. He is one of just four Russian-born players all-time (Igor Larionov, Sergei Fedorov, Sergei Brylin) to win three Stanley Cup Championships, and his 1.11 points-per-game average is the fourth-highest in league history among his countrymen. Only Alex Ovechkin (1,687) has more points than Malkin among Russian-born NHLers. He has also represented Russia on the international stage on multiple occasions including three Olympic Winter Games (2006, ’10, ’14), eight World Championships (2005, ’06, ’07, ’10, ’12, ’14, ’15, ’19), three World Junior Championships (2004, ’05, ’06), two World Under-18 Junior Championships (2003, ’04) and one World Cup of Hockey (2016).
Malkin was originally drafted by Pittsburgh in the first round (2nd overall) of the 2004 NHL Draft.”
Rick
From a sentimental standpoint, it’s great to see Evgeni Malkin return for another season. He’s a franchise icon, a future Hall of Famer, and one of the most important players in Penguins history. However, from a business and roster-management perspective, this once again falls into the category of questionable decision-making by the organization.
You would think the Penguins learned their lesson four years ago when they committed long-term contracts to both Malkin and Kris Letang. Loyalty and legacy are important, but successful franchises also recognize when it’s time to transition toward the future. Instead, Pittsburgh chose to remain emotionally attached to an aging core rather than maximizing value while those players still carried significant trade and market appeal.
It’s fair to ask where this franchise might be today had the organization made the difficult decision to move on from both veterans earlier. The Penguins could potentially have accelerated a rebuild, accumulated young assets, improved salary-cap flexibility, and positioned themselves far better for long-term success. Instead, they have remained stuck in the middle — not strong enough to contend for a championship, yet not rebuilding aggressively enough to create a clear future direction.
Rick, I can’t help but think Sid the Kid played a role in Malkin being re-signed. Thank goodness it’s only a one-year deal, and most of the contract incentives likely will never materialize. “I’m unsure on his Cap hit”
Malkin is projected to be a third-line center and part of the second power-play unit. The big question is whether he will accept that role gracefully. Saying the right things in order to secure a contract and actually embracing a reduced role when the season begins can be two very different things.
Hello Mike.
You state your case quite eloquently. I guess you can lump me in with the sentimental softies on this one.
Does re-signing Geno help with transitioning to a younger team? Tangibly, no. But intangibly, I do think he can serve as a mentor for the young Russians like Chinakhov, Ilyin and Murashov. How awesome would it be for them to learn first-hand from a player who was/is likely one of their idols?
Plus, I think Geno flat-out earned another season with his play this season while filling varying roles to boot. IMHO, he deserves to go out on his own terms, or at least as close as he can get.
As an aside, your comments keep getting better and better, and your insights even sharper and more astute. I think you should be the one writing for the blog and I should be the one commenting…lol.
Hope all is well. And thanks, as always, for your faithful readership and support.
Rick
Rick
I don’t always have the time to sit down and carefully think through what I’m trying to say. Most of the time I’m on a plane, in a car, or working, so I simply dictate my thoughts using my phone and send them. Because of that, I’m sure some of what I say comes across as a bit choppy at times. Writer I’m not! Keep up the great work.