There are plenty of wild takes in the hollow of the Pittsburgh Penguins' echo chamber right now.
Captain Sidney Crosby's agent made some interesting comments at the NHL media tour on Tuesday that set rumors about his future ablaze (again). There is a potential ownership change waiting to happen, as the Hoffmann Family of Companies continues to pop up in the speculation space. Even Wednesday had its own newsworthy topic, as it was revealed that top forward prospect Rutger McGroarty will miss the upcoming Prospects Challenge due to an undisclosed injury, leaving many concerned about his status for training camp.
But another cloud still hanging over the Penguins is the situation concerning the team's top defenseman.
It's Sept. 10, and three-time Norris Trophy winner Erik Karlsson is still on the Penguins' active roster. Karlsson, 35, was brought to Pittsburgh as part of a large-scale blockbuster trade on Aug. 6, 2023, and at the time, he was coming off of a 101-point campaign - the most productive since Brian Leetch in 1992. Expectations for Karlsson in Pittsburgh were high, as the team had just missed the playoffs for the first time in 17 years, Karlsson had just won his third Norris Trophy, and the Penguins were trying to return to the postseason immediately.
Unfortunately, for both parties, it hasn't gone as planned. Karlsson hasn't been bad for the Penguins, but he also hasn't lived up to the $10 million cap hit that the Penguins are paying him, (the San Jose Sharks retained $1.5 million of his $11.5 million average annual value). Coming into his tenure in Pittsburgh, most were aware of Karlsson's poor defensive play, and many expected a greater offensive output.
Of course, it was never fair for people to expect a repeat performance of his marvelous 2022-23 season. But it was, perhaps, fair for people to expect more. And that brings us to where the Penguins find themselves today.
With 2025-26 Season Just Around The Corner, Penguins’ Path Is Unclear
The 2025-26 NHL season will be a pivotal one for many teams.
The Penguins didn't make the playoffs after the Karlsson acquisition, and they now find themselves staring down three consecutive missed postseason appearances and are in the midst of some form of a rebuild. Rebuilding teams don't typically continue to employ $11.5 million defensemen, and that's especially true when said $11.5 million defenseman can still help a playoff-bound team drive a ton of offense as part of a playoff push.
Many question why Karlsson is still a Pittsburgh Penguin. And, well, the answer is quite simple.
Karlsson makes $11.5 million. And he has a full no-movement clause.
Despite the salary cap rising steadily every season for the next several years, the majority of teams - especially contending teams - still cannot fit Karlsson under their cap. Even with retention by Pittsburgh, paying Karlsson around $8 million for the next two years is a big price to pay for any teams hoping to be able to add for a Cup run.
Add to this that Karlsson does, in fact, entirely control where he goes. It was rumored at the time of his trade to Pittsburgh that there were only two teams Karlsson was willing to waive his no-movement clause for, and the Penguins were one of them. It's more than likely the same kind of situation this time around, as Karlsson - who has never hoisted Lord Stanley's Cup - would presumably only want to go to a contender.
Report: Erik Karlsson Willing To Depart Penguins For Contending Team
There is a lot on the table for the <a href="https://thehockeynews.com/nhl/pittsburgh-penguins">Pittsburgh Penguins</a> this summer, as it's widely been reported that they're going to be the only "true sellers" on the market.
Even then, his list of contenders is probably short. And on that short list, the teams he would be willing to go to have to be able to afford him and have to want him, too. Karlsson has also expressed that his family is very comfortable in Pittsburgh.
In other words, Karlsson is probably still a Penguin simply because moving him is complicated. There has to be a willingness from Karlsson to move, a willingness from one of his listed teams to acquire him, a working situation for any cap hit, and the right return from whichever listed team. Penguins' GM and POHO Kyle Dubas isn't just going to give Karlsson away for nothing.
So, is moving Karlsson something that is going to happen prior to the 2025-26 season? Is it going to happen, period?
Honestly, it's hard to say. Josh Yohe of The Athletic said Tuesday on The Kevin Karius Show said that the Detroit Red Wings are the team he's heard the most in association with Karlsson. While teams like Detroit and the Carolina Hurricanes have popped up a few times, there are still a lot of hoops that need to be jumped through in order for either to happen.
With the regular season less than a month away, it's difficult to envision any kind of move happening prior to the season's onset. Many Penguins' faithful expected at least one of Karlsson, Bryan Rust, or Rickard Rakell to be dealt this summer, and all three are still on the roster.
Since Rust and Rakell have three years remaining on each of their deals - and they have cap hits of $5.1 and $5 million, respectively - it's easier to envision the Penguins being able to make the necessary moves to compete with both of them still on the roster than it is with Karlsson. Sooner rather than later, the Penguins are going to have to revamp their defensive corps and let younger prospects like Harrison Brunicke and Owen Pickering take the reins while also filling in the other gaps through either the draft or acquisition.
If the pressure is on the Penguins to compete while Crosby is still in Pittsburgh - his two-year extension kicks in this season - they need to do everything in their power to overturn things as quickly and as thoroughly as possible. Trading Karlsson and flipping those assets - or getting a younger piece in return - seems to be a key piece of that puzzle.
But it's much easier said than done.
Can The Penguins Still Rebuild With One Of Rakell Or Rust Around?
It seems like <a href="https://thehockeynews.com/nhl/pittsburgh-penguins/">Pittsburgh Penguins</a>' forwards Rickard Rakell and Bryan Rust are the subject of Pittsburgh hockey news just about every other day at this point.
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