With the 2025 NHL Draft just two weeks away and free agency to follow directly after, the trade market is beginning to heat up.
And the Pittsburgh Penguins seem to be near the center of it all.
As reported by hockey insider Pierre LeBrun of TSN, the Penguins appear to be the only "true sellers" in the NHL this offseason, which puts them in a prime position to gather a lot of assets - and, possibly, some prior to and during the draft.
Forward Bryan Rust's name has been thrown around a lot over the past several days, as has Rickard Rakell's - both of whom are fresh off career years. The other guy in the spotlight is defenseman Erik Karlsson, who originally came to the Penguins via a blockbuster trade with the San Jose Sharks during the summer of 2023.
There is an overarching sentiment from many fans and people around the organization that expect Karlsson to be dealt as soon as this summer. While the Penguins may be wise to get out of the $10 million they owe Karlsson for two more years during a period of transition - or, at least, a large portion of it - it may not be as simple as it seems.
And, really, this has nothing to do with immovability or trade value. Yes, Karlsson has a full no-movement clause, and he would have to approve any potential destination. But the 35-year-old three-time Norris Trophy winner - who recorded 11 goals and 53 points to go along with a minus-24 last season - certainly still has value to contending teams looking for a puck-moving defenseman.
Actually, the issue lies within the Penguins' roster.
As reported by The Athletic's Josh Yohe - and as gathered from general sentiment throughout the organization - the Penguins realize that Kris Letang's role as a top-pair defenseman are likely behind him. While this is no fault of Letang's - Father Time is unbeaten - it does pose a problem for the Penguins if they truly are trying to deal Karlsson.
Right now, they have no other defenseman on their roster or in their system who can handle top-four minutes. But - assuming Matt Grzelcyk walks in free agency - they also have no one on the left side who is capable of playing consistent top-four minutes.
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Therefore, if Karlsson is dealt, the Penguins - even if they're not planning to be contenders next season - would need to somehow get their hands on three top-four defenseman prior to the onset of the 2025-26 season. Again, playing top-four minutes isn't only about skill, ceiling, and ability. It's also about physically and conditionally being able to handle the demand of top-four minutes.
Even for a team in the basement, that's a steep hill to climb. Sure, Owen Pickering and Harrison Brunicke may be in the roster conversation next season, but neither are ready for a full-time top-four role, nor should the Penguins expect them to be.
In other words, if the Penguins are to deal Karlsson, they need to make sure they have a plan to replace him. If they don't, there's a good chance that would be a massive, massive problem for Pittsburgh.
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