NHL Trade Preview: Pittsburgh Penguins in Sell Mode for 2025-26

The Pittsburgh Penguins continue to be the team to watch on the trade market heading into the 2025-26 season. Talks have continued throughout the offseason, as President Kyle Dubas sets himself up for some significant transaction this upcoming season.

The Penguins made a big move adding goaltender Arturs Silovs to push Tristan Jarry for the starter's crease in Pittsburgh, and there's also been some buzz about if Jarry has a bit of a bounce back in 2025-26, the team could look to ship him off, and the remaining three years on his contract to a team like the Edmonton Oilers.

As for other trade candidates heading into next season for the Penguins, there's certainly no shortage. Erik Karlsson remains the number-one priority for Dubas to move as the veteran defenceman is eating up a ton of cap space in Pittsburgh, and hasn't really moved the needle for the franchise as Dubas' hoped. Karlsson has a full no-movement clause and a $10 million cap hit, so Dubas will not only need to convince Karlsson to leave, but also have to retain at least 20% of Karlsson's remaining money to facilitate a deal. The Carolina Hurricanes and Toronto Maple Leafs remain teams to watch.

As for the Penguins' forwards, Rickard Rakell, Evgeni Malkin, and Bryan Rust remain the three trade candidates to watch. Malkin has reportedly been told he's not getting another contract in Pittsburgh, even though he likely wants to stay in the NHL past this season. Rust has been linked to the Detroit Red Wings and apparently Dubas is asking for at least a first-rounder in return, plus an NHL ready prospect. Meanwhile, Rakell is the least likely to move because of the significant asking price. 

Keep an eye on the Penguins. If they struggle out of the gate next season, Dubas is going to have a huge fire sale and push towards a complete rebuild that hopefully includes Gavin McKenna.

Photo credit:  Gary A. Vasquez-Imagn Images