The last several regimes in Pittsburgh have had some big hits and big misses

The Pittsburgh Penguins currently sit $3.52 million below the NHL's $88 million salary cap for the 2024-25 season.

It is no secret that many of their dollars are being allocated to an aging core of players, some outperforming and some underperforming their contracts. Here's a look at the three best - and three worst - contracts on the current roster and their remaining term.

Best: Sidney Crosby (1 year, $8.7 million AAV)

This one is a no-brainer: Crosby, set to turn 37 on August 7, is entering the final year of the Herculean (and now illegal) 12-year, $104 million contract he signed in 2012. 

He is due for a raise and is, reportedly, expected to sign a new extension in the coming days. But with his NHL record-tying 19th consecutive point-per-game season in 2023-24 - among a plethora of other milestones - he has continuously proven why the number next to the dollar sign is a moot point when it comes to the value he still brings to his team. 

Worst: Ryan Graves (5 years, $4.5 million AAV)

When general manager Kyle Dubas committed to Graves for six years last summer, the hope was to find a long-term defensive complement for Kris Letang in the waning years of his career.

Not even a year later, Dubas found himself mincing some words about Graves' less-than-stellar performance in 2023-24:

Graves was a mess pretty much all-around last season. A trade seems unlikely, and a buyout is probably not the best option for the Penguins right now. They'll likely have to ride the tide with Graves and hope that he either bounces back next season - or that a surprise trade suitor willing to take on his salary emerges.

Best: Michael Bunting (2 years, $4.5 million AAV)

It's safe to say at this point that the Penguins got the better end of the Jake Guentzel trade. Not only did they receive a package of prospects that can help them in the near-term, but they also got two-plus years of Bunting, who found a home alongside center Evgeni Malkin after being dealt. 

The winger registered six goals and 19 points in 21 games with Malkin last season and provides a hardline, net-front presence the Pens have been lacking. He figures to play a huge role in their top-six for the next two seasons at a team-friendly price.

Worst: Rickard Rakell (4 years, $5 million AAV)

If there is one bounce-back candidate on the Penguins' roster, it's Rakell. He played through a shoulder injury for most of the 2023-24 season, which was a disappointing follow-up to his stellar 2022-23 campaign that included 28 goals and 60 points.

In fact, it took until December 27 - yes, December 27 - for him to have more goals than goaltender Tristan Jarry last season.

On the bright side, after a slow start and some time on IR, Rakell scored 33 points and all 15 of his goals in his final 52 games, a tick below a 53-point pace. Still, those last couple of years on the contract - even if he does bounce back next season - probably won't age well.

If the Penguins can find a good trade partner for Rakell within the next year or two, he should be dealt.

Best: Marcus Pettersson (1 year, $4.025 million AAV)

There is some trade talk surrounding Pettersson, and understandably so. With only one year remaining on his bargain five-year, $20.125 million contract, he has emerged as one of the NHL's best defensive defensemen, and his work in tandem with a high-risk defenseman in Erik Karlsson last season was particularly impressive. 

And even if he's not known for his offense, he can hold his own. Be deceptive, even:

Even though a Pettersson trade would bring in a nice pick/prospect return for the Penguins, an extension is worth consideration if the Penguins hope to compete within the next couple of years. For now, however, they're getting a solid top-four left defenseman at a great price.

Worst: Erik Karlsson (3 years, $10 million AAV)

Let's get one thing straight: The blockbuster trade that Dubas pulled off last summer for Karlsson was an overwhelming win. The Penguins received a generational defenseman coming off of a historic 101-point, Norris-winning campaign, offloaded several bad contracts, and gained $3 million in cap space when the dust settled.

However, Karlsson's first season in Pittsburgh was a mixed bag. Although he improved his all-around game from his time in San Jose, his offensive production took a large hit, as he finished the season with 11 goals, 56 points, and 17 power play points.

Although he was fine last season - and his chance creation metrics were high, suggesting a lack of finishing from teammates - there is still another level for him to reach. His $11.5 million AAV was somewhat relieved by San Jose - they retained $1.5 million - but the other $10 million for three more years isn't going to bode well for the Penguins if he fails to find that next level.