The Danger Of Signing Goalies To Lucrative Contracts
The New York Rangers and Vancouver Canucks are two of the NHL’s worst teams this season and are both on the verge of massive roster changes. While both teams face unique challenges, one parallel is that they’ve made a mess of their goaltending finances with pricey extensions that were miscalculations.
The Rangers and Canucks are far from alone in this predicament. High-priced extensions have also burned several other teams at the bottom of the standings, leaving them with goaltenders who had been performing well but whose play fell off a cliff after signing their new deals.
That isn’t necessarily the case for Shesterkin, however, it is the case for Linus Ullmark of the Ottawa Senators, Juuse Saros of the Nashville Predators, and Jacob Markstrom of the New Jersey Devils, who are all making big money on recent contract extensions, with no guarantees their play will turn around. This has left three teams with win-now rosters featuring goaltenders who are vastly overpaid.
It’s become a trend over the past five-plus years that teams signing goaltenders to expensive deals must be seriously concerned about their performance throughout the term of the agreement.
There is concern about every player’s performance after they sign a lucrative long-term deal. However, goaltenders have become a unique cause for concern lately, and it’s hard to say why.
In the late 1990s and throughout the 2000s, many veteran goaltenders on the wrong side of 30 would sign expensive long-term deals without so much as a second thought from their new teams. In July 2002, for example, goalie Curtis Joseph signed a three-year, $24MM contract with the Detroit Red Wings, even though it wasn’t the best offer on the table.
Joseph had a three-year $26MM offer from the Toronto Maple Leafs but opted to move to Detroit. Toronto then pivoted and signed Ed Belfour to a two-year, $13.5MM deal.
By today’s standards, those contracts aren’t eye-popping, and the term is relatively short. But Belfour and Joseph were 37 and 35, respectively, and there was a chance their play would drop off significantly during the brief time they were signed.
Nowadays, it’s hard to imagine a team giving $8MM a season to a 35-year-old goaltender, and Joseph’s deal was inked 23 and a half years ago. The Senators gave Ullmark four years and $8.25MM annually just last year, but he had just turned 32 and was two seasons removed from a Vezina Trophy as the league’s top goaltender.
It was a pricey gamble for Ottawa and hasn’t looked like good value this season, but Ullmark has been dealing with personal issues, so it’s hard to project how the deal will work out long-term.
Circling back to the Rangers and Canucks, they are a tale of two teams whose expensive goaltending has led to team-wide issues, but for wildly different reasons. In Vancouver, Thatcher Demko was signed to a lucrative three-year deal at the start of free agency, worth $8.5MM annually.
It was a gamble by Vancouver, as they hoped the former Vezina Trophy finalist could bounce back from a poor showing last season. Had Demko had a good year, he would have been a candidate to get $9MM or more on a new contract, but Vancouver thought it was wise to jump the queue. It has not turned out well.
If Demko had played well, Vancouver likely would have paid him an AAV slightly higher than the $8.5MM they gave him, but would’ve been on the hook for more term, which would’ve been riskier. Instead, Vancouver made a different bet and is now on the hook for more term than Demko would’ve received in free agency. But hindsight is 20/20, and for the Canucks, they are stuck with the Demko deal, one they’d love to have back.
In New York, it was a different calculation. Rangers’ general manager Chris Drury believed he had a Stanley Cup contender on his hands, which meant doing everything he could to retain his Vezina Trophy-winning goaltender, Igor Shesterkin. Drury moved out his captain, Jacob Trouba, to open up space to sign Shesterkin to a record-breaking eight-year, $92MM contract.
While it was the right on-ice move given Trouba’s cap hit relative to his play, the Rangers have never been the same since the trade. New York fell off a cliff last season and has remained at the bottom of the league this year, despite Shesterkin being good.
But that is the issue: Shesterkin has only been good. In the years leading up to his extension, Shesterkin was elite.
His play in those seasons masked many of the Rangers’ problems and led Drury and New York management to think the team was much better than it actually was. Shesterkin’s goaltending was a mask, hiding the fact that Drury had built a fatally flawed roster that relied too much on out-of-this-world netminding, which was clearly unsustainable.
While the Rangers, Canucks, Devils and Predators aren’t the only teams with pricey goaltending, they are the most apparent examples of paying a premium for goaltending. But even middle-of-the-pack teams can run into issues where their extensions turn into disasters.
There are good examples in Washington: a few years ago, with Darcy Kuemper, who had just won a Stanley Cup, and Philipp Grubauer, who had been solid for years before signing as a free agent with Seattle and becoming unplayable in the NHL. Matt Murray in Ottawa was the same story, but none is more egregious and obvious than Tristan Jarry in Pittsburgh, who was recently dealt.
Pittsburgh is a relevant example because of Stuart Skinner, who has been a revelation with the Penguins but is a UFA at the end of the season. Pittsburgh already has its goalie of the future in tow in Sergey Murashov, and the Penguins would be wise to ride Skinner into the playoffs and then let him walk in the offseason if his salary demands exceed $5MM annually, which they surely will. It should be interesting to see the Skinner story unfold, but there is plenty of evidence that the Penguins would be wise to avoid giving term to a netminder who is unpredictable.
Penguins In The Market For Defensive Depth
Entering the season, the Penguins had a logjam on defense. Despite a couple of in-season additions already in Brett Kulak and Ilya Solovyov, it’s largely cleared out.
Caleb Jones hasn’t been a factor all season due to injury and now a PED-related suspension. The Matt Dumba experiment is over, and he’ll play out the rest of the season buried in AHL Wilkes-Barre/Scranton. “Veteran” depth pickups Sebastian Aho and Alexander Alexeyev were waived to begin the season and haven’t seen any NHL ice. Top prospect Harrison Brunicke was returned to his junior team.
Then, in the days leading up to the Olympic break, injuries piled up. Jack St. Ivany, who’d emerged as a great bottom-pairing shutdown option over the last few months, fractured his hand and won’t be back until late March. Kris Letang is dealing with a fractured foot, too, although he’ll be back by the trade deadline.
Still, those surgeries (and apparently some nagging injury concerns with Erik Karlsson) have the Penguins in the market to add another defenseman before March 6, Josh Yohe of The Athletic reports. That body would presumably be a righty with Pittsburgh’s top three on the right side, Letang, Karlsson, and St. Ivany, comprising their current injury concerns.
It’s likely one of the first places they’d go for depth is San Jose. The Sharks have plenty of rental names available that won’t be overly expensive, namely Timothy Liljegren. A reunion with Vincent Desharnais, who the Penguins had for a 10-game run last year before flipping him to the Sharks for a fifth-round pick at the deadline, is logical as well.
With Letang and Karlsson already in the picture, it stands to reason Pittsburgh won’t be looking for an offense-oriented defender as depth. A plug-and-play, more well-rounded option like Liljegren seems preferable. Among potential rental options across the league, there’s Ottawa’s Nick Jensen and Winnipeg’s Colin Miller out there as well.
Who Could The Penguins Target Before The Trade Deadline?
The Penguins appeared to fall back to earth in December after a strong start had them in playoff contention. A ten-game stretch dropped Pittsburgh to the bottom of the Eastern Conference standings. However, since the Christmas break, the Penguins have been on a tear, going 14-3-3 and climbing to second place in the Metropolitan Division.
No one expected Pittsburgh to be in this spot, but that’s where they are, and it is likely changing general manager Kyle Dubas’ long-term plans. Pittsburgh was expecting to sell at the trade deadline, but now there is talk of potential additions, as Josh Yohe writes in The Athletic.
But what exactly would the Penguins add? The truth is that Dubas probably isn’t looking for short-term answers and isn’t going to give up previous picks and prospects for rentals.
He might send out a late-round pick for a player or two, but his big moves, if he makes them, will not be short-sighted. So, given that he is armed with a ton of cap space and a plethora of draft picks in the subsequent three drafts, who could Dubas target?
Some people might see a player like Blues forward Jordan Kyrou as a fit, but Pittsburgh’s GM has a type. For the past two years, it’s been clear he’s targeting high-ceiling, (mostly) young players who have fallen on hard times, need an opportunity to showcase their skills, and come at a discount.
Egor Chinakhov, Arturs Silovs, Philip Tomasino, Cody Glass, and Stuart Skinner were part of a couple of trades Dubas made to acquire young talent with a ton of upside. Most of those moves have worked out, with Tomasino being the exception.
Then there is the free agency market, where Dubas’s work is very impressive. Justin Brazeau, Parker Wotherspoon, Ryan Shea, and Anthony Mantha were all brought in for a song. Now, they are all contributing significant minutes in key roles for Pittsburgh, and the team is reaping the benefits.
Kyrou could be considered a fit, but given the price tag and the money he is owed, it doesn’t feel like a Dubas target heading into the trade deadline. He has been burned by significant acquisitions before, both in Pittsburgh and Toronto, so he could be tepid when it comes to big-game hunting, especially if he is eyeing the Penguins’ long-term prospects. But like Kyrou, there are many players who have fallen on hard times and are available, with the upside Dubas might be looking for.
What about a Shane Wright in Seattle? Would Dubas be willing to move some of his picks and prospects to acquire the former fourth-overall pick in 2022, or even go so far as to move a player from the Penguins’ current roster?
Wright looked like he’d found his NHL footing last season, but an uneven start to this year has him on shaky ground. Seattle is putting out feelers to gauge the market for the 22-year-old.
Pittsburgh needs young, high-end talent to add to its young core of Benjamin Kindel, Sergey Murashov, Harrison Brunicke, and Rutger McGroarty. Could Wright be a fit? There is nothing to suggest Pittsburgh has interest, but given Dubas’ track record, it’s hard to ignore that there could be a fit there.
What about another top pick, Alexis Lafrenière, who is reportedly not a significant part of the New York Rangers’ retool? The former first overall pick in 2020 looked to have turned the corner two years ago, when he tallied 28 goals and 29 assists in 82 games.
However, last season was a setback offensively, and this season has been an even steeper drop. His assist numbers remain stable, but the finishing just hasn’t been there. He has a two percent drop in his shooting rate and isn’t generating the same shot volume as in 2023-24.
It’s hard to believe the Rangers would trade with the Penguins given the bad blood between the two sides, but they’ve done business before, as recently as 2024, when Pittsburgh sent forward Reilly Smith to New York for two draft picks. This would be different, though, as Lafrenière is in the first year of a seven-year, $52.15MM contract. And make no mistake, that contract could be a barrier to the Rangers moving him, although with a rising cap, it could be worth taking on, given Lafrenière’s potential.
At 24 years of age, Lafrenière has yet to live up to the billing that made him a first-overall pick. He was touted as an offensive wizard, drawing comparisons to another former first-overall pick, Sidney Crosby.
Now, in his sixth NHL season, it doesn’t appear he will morph into an offensive wizard anytime soon, but that doesn’t mean there isn’t value to be had. Lafrenière could be a good long-term option to play on the wing with Kindel in Pittsburgh’s top six.
Lafrenière is a smart player. Like Kindel, he has a high hockey IQ and is an excellent passer who handles the puck well. There could be a match there if the Penguins are looking for younger players who have underperformed.
Given Dubas’s previous connection in Toronto, it’s hard to believe he wouldn’t be interested in right winger Nicholas Robertson, a pending RFA next summer who has been on the trade block for what feels like forever.
Robertson wanted out of Toronto 18 months ago and never got his wish. However, the Maple Leafs have moved him up the lineup this season, with varying results, thanks to the injuries the team has dealt with. Would Toronto move him now? It’s hard to say, but for the right price, anything is possible.
It’s not certain that Robertson would be a fit in Pittsburgh, as he likely wouldn’t be in their top nine. The Penguins’ fourth line of Blake Lizotte, Noel Acciari and Connor Dewar has been highly effective this year, meaning there might not be a place for Robertson with the Penguins. Things could change in the summer, when the Penguins have more slots open up due to departures, but for now, it seems unlikely that they would acquire the 24-year-old forward.
At the beginning of the season, the Penguins were widely regarded as having the worst left-side defensive unit in the league. No one could have predicted the emergence of Shea and Wotherspoon, who have become solid defensive options, while Brett Kulak was still playing in Edmonton with the Oilers.
At the time, Penguins fans were discussing the possibility of acquiring Anaheim Ducks defenseman Pavel Mintyukov, the 10th overall pick in 2022. Reports from Elliotte Friedman at the time indicated that Mintyukov wasn’t happy with his playing time, and Penguins fans rightly saw him as a potential solution to their defensive woes. But now, with the Penguins’ current depth, it’s hard to say whether it would be a move for Pittsburgh to make. Dubas always likes to stockpile NHL defensemen and has at least a dozen of them right now, but would he put together a 22-year-old defenseman who would be a heck of a buy-low option?
Make no mistake, Mintyukov can play and would be a great long-term option for the Penguins alongside Brunicke on the back end. This season, Mintyukov has six goals and eight assists in 48 games, buoyed by a career-high shooting percentage of 12%. Pittsburgh is being cautious about how it spends its future assets and may not want to roll the dice if the price gets too high. But if Anaheim is looking to move on from Mintyukov, the Penguins could likely put together a competitive offer for the pending UFA.
NHL Teams Continue To Avoid Roster Re-Starts
Several NHL teams have been major disappointments this season, particularly the New York Rangers and Vancouver Canucks. While the Rangers have made it clear they intend to retool, the Canucks have refrained from labelling their plans, possibly due to ongoing roster assessments or other internal considerations. Even teams that have entered clear rebuilds have become apprehensive about fully starting over (e.g., the Calgary Flames), for various reasons. PHR had a piece last year that addressed why teams are choosing a retool over a rebuild, but this piece will focus on why teams have shied away from ever starting over.
The reluctance to start over makes sense from the team’s perspective, even if it hinders the team’s long-term prospects of becoming competitive again. The Rangers are a perfect example, having invested a pile of past development years into players such as Igor Shesterkin and Alexis Lafreniere. This is common among NHL teams, who constantly fall into the sunk-cost fallacy of continuing to throw money and time at a player, even though he will never be what they were hoping for or effective enough to justify the costs they’ve paid.
Beyond past costs, teams are also trapped by future expenses from contract extensions given to players who are not performing up to their AAV. This is something the Rangers are arguably dealing with in the cases of Shesterkin and Lafreniere, another bitter pill for management to swallow, as they are now in a position where they feel as though they are throwing both past and future years away on a player they piled so many resources into.
Those extensions were signed by Rangers general manager Chris Drury, and his fingerprints are all over this team. Drury has invested everything into his current club, from draft picks to term to cap space to his public messaging. It’s part of the reason he has recently talked of pivoting to a retool. Walking away completely from this core would signal a massive failure on his part. Even if the pieces in place probably aren’t the ones you’d want to retool around, Drury will likely keep a lot of them, because he staked his reputation on acquiring them.
GMs who build a team and then have to blow it up are essentially admitting they were wrong in their roster construction. Few NHL GMs want to do that, and most front offices would rather be a consistent disappointment than openly admit they are wrong.
And therein lies a big problem in the NHL. Executives aren’t necessarily rewarded for championships; they are rewarded for not collapsing. Making the playoffs is safe; finishing just outside the playoffs shows stability, but tearing down a roster and rebuilding it is a considerable risk, one that can cost you your job. A full-scale rebuild requires several ugly seasons. It means fans with brown paper bags on their heads attending games, and it means an impatient owner circling the offices, wondering when the team will turn the corner. Rebuilding is brutal and ugly, and it requires patience. Retooling is more manageable, quicker, and often leads to immediate, albeit tepid, results.
Retools can also sell hope, and teams can see it in a retool. Owners prefer hope to being told they have to tear down their team, and hope sells more tickets than telling fans you are going to start over. That matters more to owners: a full building over a full draft-pick ledger. A middle-of-the-pack team with designs on limping into the playoffs is easier to market than a disciplined rebuild with zero guarantees.
So, NHL teams opt for the theatre of optimism over meaningful structural change, and it’s tough to fault them given the incentives at play. One of the most famous examples of this is the Toronto Maple Leafs of the late 2000s, who were managed by Brian Burke. The management group had assembled a promising prospect pool but grew impatient in September 2009 and made the trade with Boston to acquire Phil Kessel. The rest, of course, is history: Tyler Seguin was drafted in 2010 with the Maple Leafs’ first-round pick, and defenseman Dougie Hamilton was drafted a year later with Toronto’s 2011 first-round pick. Had Toronto simply been patient, there is no telling where that iteration of the Maple Leafs would have ended up.
Front offices dread wasting years, and in the early stages of a rebuild, there will be wasted years. It’s also why teams rush rebuilds and mess them up. That is effectively what Drury did. He became impatient and made bold moves to bolster his lineup, which ultimately blew up his prospect system and, eventually, his NHL roster. The Ottawa Senators are guilty of the same thing, taking wild swings early in their rebuild on Alex DeBrincat and Jakob Chychrun. Teams trade their future away and call it supporting the core. They extend players to justify their original bet on a player (see last week’s piece on this). They shift their own goals from winning the Stanley Cup one day to simply not having to start over.
Again, it’s hard to fault GMs for doing this. The NHL’s structure used to encourage full-scale rebuilds, but now the rules discourage them. The draft lottery has made it harder to build through top picks; the salary cap floor requires acquiring veteran players; and some high draft picks take longer to develop. All of that has made the retool, or stated differently, the half-rebuild, safer. Even if the retool leads nowhere, which it often does.
The Pittsburgh Penguins are a prime example of this. In the 2022-23 season, it became clear the Penguins needed to get younger, but general manager Ron Hextall doubled down on his roster, trading for veterans such as Nick Bonino, Mikael Granlund, and others. He also sent Brock McGinn, Kasperi Kapanen, and Teddy Blueger out the door. It was a clear case of doing something now to change the furniture, hoping it would improve. It failed miserably. Hextall had stood still for most of his tenure in Pittsburgh, and while his flurry of moves that year showed urgency, he accomplished nothing and was fired at the end of the season.
The complex reality in the NHL is that teams can’t rebuild under current management, not in any meaningful way, because it would expose all of management’s mistakes. Bad drafting, poor development, bad signings, cultural rot in the dressing room, the list goes on. Starting over requires a top-down reset, from the president of hockey ops and general manager on down to the players, and most teams can’t stomach that kind of carnage or don’t have the humility to admit things aren’t working. This is why teams don’t rebuild until it’s five years too late, and the only choice they have is to start over and wait five to seven years for results.
The Maple Leafs are currently at that point. They can retool around Auston Matthews, William Nylander, and Morgan Rielly, or they could begin the painful teardown and build a whole new culture in Toronto. Given the incentives at play, it’s hard to believe they would choose the latter over the former, even if it might be the better choice for the franchise long term.
Pittsburgh Penguins Reassign Rutger McGroarty, Avery Hayes
2/6/26: The Penguins announced today that McGroarty will be spending the Olympic break with AHL Wilkes-Barre/Scranton, as he was reassigned to the team today.
McGroarty got into four NHL games since returning from injury, but he didn’t play much. He managed two assists in that span, but did not receive more than 11 minutes of ice time in any of the four contests. The Olympic break will serve as an opportunity for him to get some reps in at the AHL level, where he’s scored 12 points in nine games this season.
The Penguins also reassigned forward Avery Hayes, who they recalled yesterday. Hayes had a day to remember, making his NHL debut and scoring twice, helping the Penguins to a significant road win over a quality opponent. Hayes has 13 goals, 23 points in 31 AHL games this season.
1/29/26: The Pittsburgh Penguins have recalled forward Rutger McGroarty from their AHL affiliate, the Wilkes-Barre/Scranton Penguins. In a corresponding move, the club placed defenseman Jack St. Ivany on injured reserve.
This recall gives Pittsburgh head coach Dan Muse an additional forward at his disposal in the wake of Bryan Rust, who has to sit out the team’s next three games due to a suspension. The move also restores McGroarty’s place on the team’s NHL roster, something he lost after suffering a concussion in the first week of the month.
McGroarty, 21, will re-enter the Penguins’ NHL roster likely with a heightened level of confidence in his abilities as a scorer. The Penguins had McGroarty build his way back from his injury at the AHL level in part to help him regain some confidence as an offensive creator. McGroarty has been a top scorer at every level he’s played at outside of the NHL. While he has just three points in 16 NHL games so far this season, he managed four points in his final two AHL games.
Pittsburgh is likely hoping he’ll be able to hit the ground running and reach another level of production in the NHL after getting to contribute to some offense with the AHL Penguins.
For the duration of Rust’s absence, it’s possible McGroarty will get the chance to play in the veteran’s vacated role alongside Sidney Crosby on Pittsburgh’s top line. Such an opportunity would be a significant one for McGroarty, as playing with Crosby would likely put him in prime position to get the kind of scoring opportunities that are far more rare when playing in the bottom-six.
If he indeed ends up playing there, and can capitalize on the opportunities naturally provided in such a role, he could further bolster his confidence in a way that would pay dividends even after Rust returns from his suspension.
As for St. Ivany, who lands on IR as part of this recall, his removal from the active roster was widely expected after it was announced earlier this week that he’d undergone surgery on his left hand. He’s expected to be sidelined for up to eight weeks as he recovers from the procedure.
Penguins Recall Avery Hayes, Three Out
The Pittsburgh Penguins are facing a shakeup on offense in their final game before the Olympic break. Winger Avery Hayes was recalled to the NHL and will make his NHL debut to help Pittsburgh address absences for Noel Acciari, Rickard Rakell, and Blake Lizotte.
Acciari entered the day with an illness. He was designated as a game-time decision and ultimately scratched. Rakell has been designated as day-to-day with a lower-body injury. It isn’t yet clear if or how that injury will impact his availability for the Olympic games. Finally, Lizotte will be away from the team to attend to the birth of his child. All injury updates come per Josh Yohe of The Athletic.
The lineup shift will leave Penguins forward Benjamin Kindel and Egor Chinakhov as focal pieces of the offense, with the rookie Kindel even earning top power-play reps. Chinakhov has scored six points in his last six games, while Kindel has five points. They will help make up for the glaring holes left by Pittsburgh’s absentees. All three have made their marks felt over the last two weeks, though surprisingly Lizotte and Acciari have proven the hotter hands, with four points to Rakell’s three.
Pittsburgh will get another boost from one of their AHL leading scorers. Hayes has racked up 23 points and 41 penalty minutes in 31 AHL games this season. It’s a ramped up year across the board after the two-way winger posted 23 goals, 42 points, and 58 PIMs in 60 games last season. The undrafted Hayes is in his third AHL season. He was a two-time OHL champion across four years in the league, where he made a name for himself as a plug-and-play winger capable of fitting next to any linemates. Pittsburgh will hope Hayes brings that same flexibility into his first game at the top flight.
Penguins’ Caleb Jones Suspended 20 Games For PED Use
The league announced Wednesday that they’ve assessed Penguins defenseman Caleb Jones an automatic 20-game suspension for violating the terms of the NHL/NHLPA Performance Enhancing Substances Program. As a result, he’s been required to enter the NHL/NHLPA Player Assistance Program “for evaluation and possible treatment.”
Jones, 28, hasn’t played in the NHL since late October due to a lower-body injury. He was assigned to AHL Wilkes-Barre/Scranton on a conditioning loan last month but hasn’t played since suiting up for them once on Jan. 14. He sustained a separate upper-body injury in that game and has been unavailable since.
“Throughout the process, Caleb has been forthcoming with the organization as to how he believes the positive test occurred,” general manager Kyle Dubas said. “Caleb takes full responsibility for his actions, despite him being unaware that what he consumed was a prohibited substance at the time.”
Jones looked to get back into a more regular NHL role with the Pens after he spent most of last year in the minors in the Kings organization, only suiting up for six big-league games with Los Angeles. He landed a two-year, $1.8MM offer from Pittsburgh and skated in seven games to begin the year, recording one assist with a +1 rating while pairing with rookie Harrison Brunicke, before landing on the injured list.
Even when Jones is eligible to return, there won’t be much of a spot for him. The Pens’ acquisition of Brett Kulak from the Oilers in the Tristan Jarry/Stuart Skinner deal pushed Jones further down the left-shot D depth chart. With Kulak and Kris Letang gelling well and Ryan Shea excelling as Pittsburgh’s third-pairing lefty, there’s no longer a regular role for him – especially after the Pens added some additional left-shot depth in Ilya Solovyov last month. It’s likely he’ll end up on waivers and finish the season in Wilkes-Barre when he’s cleared to return.
Three Players Placed On Unconditional Waivers
Feb. 4: All three cleared and are now unrestricted free agents, per Friedman. Larsson has already found his new home in Sweden with Leksands IF, Expressen reports.
Feb. 3: Three players from around the league won’t be back with their current clubs after the Olympic break. The Panthers’ Ryan McAllister, the Penguins’ Filip Larsson, and the Blues’ Samuel Johannesson were placed on unconditional waivers today for the purposes of contract terminations, Sportsnet’s Elliotte Friedman reports.
McAllister, 24, will become an unrestricted free agent midway through a trying season. The Ontario native took a rare development path, inking his entry-level contract with Florida as an undrafted free agent in 2023 after just one season in college at Western Michigan. He’d erupted for 49 points in 39 games as a freshman, so making the jump to the pros wasn’t completely out of the blue.
The 5’10” pivot has never landed an NHL recall, but he’d put together some promising seasons in Charlotte – when healthy. He had 19 points in 37 games as a first-year pro in 2023-24 and averaged nearly a point per game last year, although he was available for only 16 games.
It seems whatever ailed him last year has made him a more limited threat this year. He had two goals and seven points with a -5 rating in 15 games to begin the year with Charlotte before the Panthers bumped him down to ECHL Savannah for the first time last month. He’s suited up twice, recording one assist and a -1 rating.
McAllister’s 0.64 points per game average in the AHL indicates he should be able to catch on somewhere else quickly, whether that’s on an AHL deal elsewhere to finish out the season or to join a pro team in Europe for the stretch run.
Larsson, 27, seems a sure bet to head back home to Sweden. He was a sixth-round pick by the Red Wings back in 2016 and had a one-year run with them in the AHL after coming out of college before being loaned back to Europe in 2020. He remained there until Detroit non-tendered him following the expiry of his entry-level deal.
Larsson later broke out as a top-tier starter in the Swedish Hockey League in 2023-24, racking up a .920 SV% and 1.93 GAA with five shutouts in 28 games. That put him back on the NHL radar, and the Penguins inked him to a two-year, two-way deal.
The Stockholm native was a good minor-league backup last season, notching a .910 SV% and 12-9-3 record in 26 showings for AHL Wilkes-Barre/Scranton. He’s barely gotten any playing time this season behind youngsters Joel Blomqvist and Sergey Murashov, though, appearing just nine times. He hasn’t been terribly effective when dressed, either, throwing up a .876 SV% and 3.51 GAA.
Johannesson could also be on his way back to Sweden alongside Larsson. St. Louis signed the 25-year-old righty in 2024 out of Örebro HK. He was a 2020 draft pick by the Blue Jackets, but his exclusive signing rights with Columbus had expired.
The offensive-minded righty has been a valuable puck-mover for their minor-league affiliate in Springfield, but hasn’t shown the defensive utility necessary to earn a look at the next level. After putting up 32 points in 66 games last season, his output has dropped to 11 points in 26 games in 2025-26. He hasn’t been in Springfield’s lineup since mid-January, either, mostly due to his -20 rating.
Penguins Reassign Melvin Fernstrom
The Pittsburgh Penguins are bringing one of their forward prospects to North America. According to a team announcement, the Penguins have assigned forward Melvin Fernström to the AHL’s Wilkes-Barre/Scranton Penguins.
Fernström, 19, is only a few years removed from being drafted by the Vancouver Canucks. Vancouver selected the Bålsta, Sweden native with the 93rd overall pick of the 2024 NHL Draft. At the time, Fernström had been playing for the Örebro HK program, scoring 23 goals and 57 points in 48 games across three separate U20 divisions. The Canucks traded Fernström to the Penguins last season in the Marcus Pettersson trade.
He’s remained in the Örebro HK organization, making the jump to the SHL over the last few years. Fernström has been relatively successful after making the jump to professional hockey, particularly as a younger player, scoring 11 goals and 21 points in 84 games since the beginning of the 2024-25 season.
Making the jump to the North American professional circuit, it wouldn’t be surprising to see Fernström struggle offensively for some time. Still, standing at 6’2″ and 190lbs, he won’t look out of place with the WBS Penguins.
Most of the public scouting information available on Fernström suggests he has a tremendous hockey IQ, which is fairly common for Swedish forwards. He is credited with efficiently assessing where the puck is going, which makes up for his subpar shooting ability. Regardless, he’ll immediately join a contending team in the AHL and will benefit from better players around him.
Pittsburgh Penguins Activate Ryan Graves
The Pittsburgh Penguins announced today that defenseman Ryan Graves has been activated off of injured reserve. Graves landed on IR on Jan. 22 as the result of an upper-body injury, and ended up missing four games.
Graves’ return to health comes at a time when the Penguins’ defense, especially its left side, could use some reinforcement. The team recently announced that veteran stalwart Kris Letang will be sidelined on a week-to-week timeline as the result of an injury, so Graves’ activation gives head coach Dan Muse another option to work with as he plans how his defense will absorb the loss of Letang.
Letang’s injury provides Graves with quite a bit of runway to maintain a hold on an NHL roster spot. For a player with nearly 500 games of NHL experience, and one that costs $4.5MM against the cap per year, it’s something of a surprise that a spot in the NHL is even in question for Graves, but that’s been his reality in 2025-26. His decline in form since his days with the Colorado Avalanche and New Jersey Devils has led to multiple reassignments to the AHL, where he has played a total of 13 games this season, compared to 19 in the NHL.
Given Graves’ physical traits (he stands 6’5″, 225 pounds) and his wealth of NHL experience, it’s entirely reasonable to expect him to be capable of playing better. Other Penguins defensemen have had tough stretches before finding their form, such as veteran Connor Clifton. Due in part to Letang’s unavailability, Graves will likely get the chance to play in the NHL for Pittsburgh once more, and if he can string together some quality, stable performances, he could go a long way to justifying his lofty cap hit.
Graves’ most direct competition for NHL minutes appears to be 25-year-old Ilya Solovyov, a defender from Belarus who the team claimed off of waivers on Jan. 20. Solovyov has averaged just 15:09 time on ice per game in his two contests in Pittsburgh, which is only a shade lower than what Graves has averaged this year (15:28 per game). It’s inevitable that Graves will get the chance to play in some NHL games in the role currently occupied for Solovyov, so it’ll be important for him to make the most of that opportunity if he wants to avoid another reassignment to the AHL.