The NHL's trade deadline is quickly approaching.
This year's trade deadline is set for March 3 at 3 p.m., just 17 days away. Any deals made must be submitted to the league offices by that time in order for players to be eligible to play games for the remainder of the regular season and postseason.
The Penguins currently aren't in a position to be taking on any cap hits in a potential deal. They're currently dipping into the long-term injured reserve pool, receiving temporary relief on Jan Rutta's $2.75 million cap hit. That relief is the only thing allowing them to keep Dustin Tokarski ($775,000) and two skaters like Drew O'Connor ($750,000) and Mark Friedman ($775,000) recalled. Once Rutta is activated (which can happen as early as Tuesday), then the Penguins lose all of that relief and three skaters have to be sent down. Those moves would leave the Penguins with around $20,000 in cap space -- not exactly enough for a blockbuster of a move.
Options are limited. Buyouts can't happen midseason, only in short pre-determined windows over the summer. "Releasing" players isn't a thing in hockey. Players on one-way deals can be sent down to the minors, but only the first $1.1 million of their cap hit gets freed up if they clear and are sent down, and the rest is dead cap. Long-term injured reserve relief only provides relief as long as the injured player is actually out. Assuming nobody suffers a regular-season-ending injury in the next 17 days, any move the Penguins make will have to include an asset from the active NHL roster going out in order to free up the necessary cap space
Nearly half of the current active roster has some sort of no-movement or no-trade clause in their contract that restricts any potential movement in some form. Who has those restrictions in their contracts, and what are they? Let's break it down.
UNTOUCHABLE
Sidney Crosby (Full NMC) - Not that he'd need the protection, but Crosby isn't going anywhere for the duration of this contract, which runs through 2025. But you knew that.
Evgeni Malkin (Full NMC, 35+) - Malkin has a full no-movement clause for all four years of his contract, which protects him from trades and re-assignments to the minors. Because his contract was also structured to be a true 35+ contract, it is also essentially buyout-proof and provides the Penguins no relief if he retires before it expires in 2026.
Kris Letang - (Full NMC, 35+) - Letang has the full no-movement clause for the first four years of his contract. The final two years of the deal in 2026-27 and 2027-28 are reduced to a modified no-trade/no-movement clause, which allows him to submit a 10-team no-trade list, but he keeps his protection from re-assignments to the minors. Like Malkin, Letang's contract is a 35+ contract and carries those same rules.
Bryan Rust (Full NMC) - The six-year deal Rust signed this past summer has a full no-movement clause for the first three years of the deal, protecting him from all trades and re-assignments to the minors. The final three years of the deal (2025-28) carry no protection at all.
Jeff Carter (Full NMC, 35+) - Totally immovable for the duration of his contract, which runs through next season. Full no-movement clause means no trades, no re-assignments to the minors without his consent. His contract is 35+, which means that he also can't be bought out this summer and the Penguins get no relief if he retires.
PARTIALLY PROTECTED
Jake Guentzel (Modified NTC) - Guentzel must submit a list of 12 teams to which he would not accept a trade if asked. That clause kicked in this year and continues through the end of his contract next season. Even if he didn't have that protection, he wouldn't/shouldn't be going anywhere.
Jason Zucker (Modified NTC) - Zucker can submit a 10-team no-trade list. He's had that in his contract for the last four years, which he signed as a member of the Wild. He's an unrestricted free agent this summer. Again, he shouldn't be going anywhere regardless.
Rickard Rakell (Modified NTC) - Rakell can submit an 8-team no-trade list. He has that clause for the duration of his six-year contract that he signed this past summer and runs through 2028. With the impact he's had on the top six, he'd be safe anyway.
Jeff Petry (Modified NTC/NMC) - Petry can submit a 15-team no-trade list. The no-movement portion of the clause also protects him from being re-assigned to the minors. He has that clause in his contract for the remainder of his contract, which runs through 2025 and was originally signed when he was a member of the Canadiens. That might be an issue later in his contract.
Brian Dumoulin (Modified NTC) - Dumoulin can submit a 10-team no-trade list, a clause he's had in his contract for the last four years. He's a free agent this summer. Since there aren't many teams with ample cap space -- and the ones that do have cap space are more so destinations like Chicago, Arizona that would probably be on Dumoulin's "no" list -- that clause might end up being pretty limiting.
NO PROTECTION
Kasperi Kapanen - The "protection" Kapanen has is that there probably aren't too many teams itching to take on his albatross $3.2 million cap hit on his deal that ends next season.
Brock McGinn - Ditto for McGinn. With two more years left on his deal that carries a $2.75 million cap hit, teams will likely look elsewhere for cheaper options to round out their bottom six.
Teddy Blueger - Blueger is having such a tough year that he's just not living up to that $2.2 million cap hit. It's a contract year for him, and he's not playing well enough to be a sought-after rental player. A more likely scenario is that he just walks in free agency.
Danton Heinen - Heinen's on a one-year deal and again, isn't exactly a great rental candidate for a contender. Maybe he'd be appealing for a rebuilding team that thinks he might be able to recapture the offensive success he had last year and would want to re-sign him before he hits free agency. His $1 million cap hit is also low enough that the Penguins could assign him to the minors and have it not count at all toward their cap hit if needed.
Josh Archibald - Totally fine player for his role, and cheap at $900,000. His contract doesn't move the needle much toward getting a bigger deal done, and there's no reason to move him anyway.
Ryan Poehling - Same deal for Poehling. He's a steal at the league-minimum $750,000. He's a restricted free agent this summer. He should get an extension.
Drew O'Connor - O'Connor is probably ending up in Wilkes-Barre/Scranton soon just by virtue of being exempt from waivers (and not being a regular in the lineup anyway). His $750,000 cap hit won't count there.
Marcus Pettersson - Pettersson's been one of the Penguins' better defensemen this season. He has two more years left on his contract that carries a $4,025,175 cap hit, and he actually has partial trade protection kicking in next year that runs for those last two years. He can provide an 8-team no-trade list starting July 1.
Jan Rutta - Rutta isn't overpaid at $2.75 million, but he's a luxury that the Penguins can barely afford as a third-pairing defenseman. With two years left on that deal after this year, he wouldn't be a bad trade candidate.
P.O Joseph - At 23 years old, Joseph is young enough that he could be an appealing piece of a deal. But with a $825,000 cap hit, he alone isn't going to move the needle toward getting anything bigger done.
Chad Ruhwedel - He's a 32-year-old seventh defenseman making just over league-minimum at $800,000 and has one more year left on this contract. He's good to have in his role, but probably not the kind of player that teams are going to be calling about.
Mark Friedman - He might be able to be an NHL regular elsewhere, but like others, makes $775,000 and isn't going to get you very far in freeing up cap space for a bigger deal.
Tristan Jarry - An upgrade in goal would be great. The problem is that the Penguins wouldn't be the only team in the market for a goaltender, and there aren't many goaltenders who are expected to be available. Jarry's contract that carries a $3.5 million cap hit expires this summer.
Casey DeSmith - An upgrade to the backup would be great, too. Money to do that would have to come from elsewhere, because moving DeSmith's $1.8 million cap hit alone isn't going to get you a better backup. He's pretty affordable for a backup. A better one is going to cost more.
Dustin Tokarski - Most teams have a veteran minor-league journeyman as their No. 3 goalie. Tokarski is one of the better goalies in the AHL this season. He's one of the better No. 3s you're going to get, but he's still a No. 3. He's fine in his role, and shouldn't be going anywhere given that the current alternatives in the system are a streaky Filip Lindberg and a first-year pro in Taylor Gauthier.
