Following two trades last week, there is increased speculation about Pittsburgh Penguins winger Jake Guentzel and whether he'll be traded if there's no extension in place.

The first significant moves before the NHL March 8 trade deadline occurred last week with the Vancouver Canucks acquiring Elias Lindholm from the Calgary Flames and the Winnipeg Jets landing Sean Monahan from the Montreal Canadiens.

Those deals increased speculation over what the Pittsburgh Penguins will do with Jake Guentzel.

Eligible to become a UFA in July, Guentzel carries an annual salary-cap hit of $6 million. The 29-year-old winger is in line for a significant raise on his next contract.

On Friday, THN Pittsburgh's Nick Horwat cited Sportsnet's Nick Kypreos saying he'd heard the Penguins offered Guentzel a six-year deal in the range of $50 million. However, nothing has been signed yet.

That doesn't mean Penguins GM Kyle Dubas is no longer considering the possibility of moving Guentzel by the trade deadline. Horwat also cited The Athletic's Josh Yohe, indicating Dubas is open to trading the winger even at the risk of upsetting his linemate Sidney Crosby or coach Mike Sullivan.

A two-time 40-goal scorer (most recently in 2021-22), Guentzel would draw plenty of interest if Dubas makes him available before March 8. Finding the right trade partner is another matter.

The Vancouver Canucks were rumored last month to have an interest in Guentzel. However, their acquisition of Lindholm on Jan. 31 means they're no longer shopping for a big-ticket forward.

Some Penguins followers may have seen what the Flames got for Lindholm and the Canadiens received for Monahan and think they'll get a king's ransom for Guentzel. However, Pittsburgh Hockey Now's Dan Kingerski is skeptical. He pointed out the trade market has more buyers than sellers but little cap space to spend, adding the Lindholm and Monahan deals have already set the market.

With the Penguins seven points out of a wild-card berth and five points behind third place in the Metropolitan Division emerging from the all-star break, Dubas could become a seller if the Guentzel camp appears reluctant to sign an extension. Finding a suitable return could mean retaining up to half of the winger's salary to make it work.