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Penguins Looking To Add To Ownership Group

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Josh Yohe of The Athletic is reporting that the owner of the Pittsburgh Penguins is looking to add to their ownership group. The Penguins are owned by the Fenway Sports Group, who also own the Boston Red Sox of Major League Baseball and Liverpool Football Club of the English Premier League.

Some people might see the situation as FSG trying to cut ties, however, this type of maneuver is hardly uncommon in sports ownership and likely won’t mean much to the day-to-day operations of the team. FSG has been very hands-off with the Penguins, some fans might say to the detriment of the team, however, they are rarely seen at games or in the media when it comes to Penguins affairs.

FSG bought the Penguins from previous owners Mario Lemieux and Ron Burkle, paying a staggering $950MM back in 2021. Lemieux and Burkle remain in the ownership group in a minority fashion and have had little to do with the club since departing.

The Penguins have gone through turbulent years since being purchased by FSG, making the playoffs just once in three seasons, and suffering through some difficult seasons under Ron Hextall and Brian Burke. Pittsburgh saw their 14-year sellout streak come to an end in 2021, and this year attendance has slipped to a low not seen since Sidney Crosby joined the team in 2005.

On the ice this season, Pittsburgh has fallen to the bottom of the NHL standings and is very much in danger of missing the playoffs for a third consecutive season. Despite this, FSG has remained committed to spending to the upper limit of the NHL salary cap and is heavily invested off the ice spending handsomely on managerial and scouting staff to rebuild the roster before the end of Crosby’s career.

Penguins Expected To Be Sellers At Trade Deadline

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Josh Yohe of The Athletic believes that the Pittsburgh Penguins will be sellers regardless of their position in the standings. Yohe wrote about the unusual position the Penguins find themselves in heading into the second half of the NHL season. Pittsburgh has fought its way back into the Wild Card conversation in the Eastern Conference, and despite being largely made up of veteran players, general manager Kyle Dubas has his eye on the future and intends to sell.

Yohe says that his league sources predict the Penguins will make multiple moves to jettison veterans and that “no one is safe” on Pittsburgh, except for the players holding full no-trade protection (Sidney Crosby and Evgeni Malkin to name a few). Marcus Pettersson is certainly a name Pittsburgh will move on from given his contractual status, but one name that could also go is forward Rickard Rakell. The 31-year-old is having a nice bounce-back season with 22 goals in 45 games. However, Yohe pours cold water on that notion, saying that Pittsburgh is likely to hold onto him for this year unless they receive a big offer.

While all signs point to Pittsburgh packing it in for the season and missing the playoffs for a third straight year, Yohe believes that the Penguins may see the trading of veteran players as an opportunity to call up some of their prospects who are NHL-ready, most notably goaltender Joel Blomqvist who is arguably the best netminder in the Penguins entire organization and their best chance at steady goaltending. Tristan Jarry has struggled for well over a calendar year and doesn’t look like an NHL goaltender at the moment, and Alex Nedeljkovic has been wildly inconsistent this season after putting together a nice campaign a year ago.

While the Penguins would love to move on from some of their pricier veterans, they will be in tough to do so as Jarry has three years left on his contract after this season with an AAV of $5.375MM, and defenseman Ryan Graves has four years on his deal at $4.5MM. Those deals were two of the first contracts Dubas handed out in Pittsburgh, and they’ve aged like milk. In previous years, those types of contracts would have been untradeable, but with the cap rising next season, it’s not out of the question that the Penguins could move on from those players in the next six months.

Late Night Notes: Doughty, Wilsby, Crosby

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Top Los Angeles Kings defenseman Drew Doughty has taken one step closer to full health, returning to skating drills on Tuesday head coach Jim Hiller shared with NHL.com’s Zach Dooley. Doughty has missed the entire regular season after undergoing an ankle surgery in October. He was placed on long-term injured reserve on October 9th.

The Kings defense has been great in Doughty’s absence. Rookie Brandt Clarke leads the bunch in scoring with an impressive 21 points in 36 games – and is quickly followed by Vladislav Gavrikov, Jordan Spence, and Joel Edmundson in scoring double-digit points. The blue-line has been a major factor in the Kings’ 21-10-5 record, and getting back their franchise defender in Doughty could be the piece to really push them into company with the league’s top teams. The 35-year-old Doughty recorded 50 points in 82 games last season – his second consecutive year reaching the 50-point mark. His performance featured 15 goals, the most Doughty has scored since the 2009-10 season. While age has certainly slowed his game, he still seems poised to make a major impact in Los Angeles’ top-four once he’s back to full health.

Sticking to the Western Conference, Nashville Predators defenseman Adam Wilsby missed the team’s Tuesday game against Minnesota with an upper-body injury. He has been designated as day-to-day, per a team announcement. Wilsby has been a focal piece of Nashville’s blue-line, averaging nearly 19 minutes of ice time each game and recording three points across 15 games. He’s 10 games shy of making this year his official rookie season in the NHL. Wilsby earned the promotion after climbing the ranks of the Milwaukee Admirals, totaling 44 points in 126 games with the club over the last three seasons – including five points in 13 games this year. Recent trade acquisition Justin Barron is filled in for Wilsby. It’s his third game with the Predators. Barron is still searching for his first point with the team.

Jumping out East, Sidney Crosby is continuing to stamp himself as the pinnacle Pittsburgh Penguin. He recorded his 1,034th assist on Sunday night, passing Mario Lemieux for the franchise’s all-time record and pushing Crosby to 12th on the NHL’s all-time assist leaderboards. Crosby sits 16 assists back from surpassing Gordie Howe and entering the top-10 of that list. He’s still 88 points shy of breaking Lemieux’s franchise record for all-time points. Crosby has two years on his contract after this season, which should be plenty of runway to set more Penguins scoring records, and continue challenging the tops of NHL record books.

Morning Notes: Leddy, Crosby, Nedeljkovic

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Jeremy Rutherford of The Athletic speculated on the future of defenseman Nick Leddy and the St. Louis Blues. Rutherford doesn’t think the Blues can count on more than bottom-pairing minutes from the veteran rearguard, who has one year remaining on his contract after this season at a $4MM cap hit. The 33-year-old is out with a lower-body injury and appeared close to a return as he was travelling with the team on their road trip. However, the injury flared up, and he was forced to return to St. Louis.

The former Stanley Cup Champion has played just four games this season after playing a full slate of games last year. He hasn’t posted any points this year, but he did tally three goals and 25 assists last season, which were his best offensive numbers since the shortened 2020-21 season while he was a member of the Islanders.

In other morning notes:

  • Josh Yohe of The Athletic writes that Pittsburgh Penguins superstar Sidney Crosby wasn’t thrilled with some fans who attended last night’s 6-2 loss to the Colorado Avalanche. Crosby, who is notoriously positive, commented on the Penguins winning five of their last seven games, saying, “You wouldn’t know it tonight. Would you? I mean, getting booed on the power play (in the third period.)” The Penguins were down 4-2 at the time and weren’t generating much with the man advantage. However, the club has turned around in recent weeks and was coming off arguably their best game of the season on Saturday against Toronto. Crosby showed visible frustration at the end of last night’s game, smashing his stick after Colorado scored an empty netter to clinch the game.
  • Penguins’ backup goaltender Alex Nedeljkovic took a puck to the face while sitting on the bench last night in the Penguins’ loss (as per Josh Yohe of The Athletic). The 28-year-old was hit under his right eye by a puck in the first period and came back out in the second period sporting a black eye. Nedeljkovic told reporters that he would be fine, so it doesn’t appear to be a cause for concern going forward. The Penguins haven’t received great goaltending this season from Nedeljkovic as he has struggled to a 4-5-3 record with a 3.37 goals-against average and a .882 save percentage.

Morning Notes: Daugavins, Norris, Crosby

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The IIHF reports that former NHL forward Kaspars Daugavins has retired. The 36-year-old’s announcement caught many by surprise as he has been very productive in recent seasons including this year in Slovakia’s top league Tipos Extraliga, where he has posted six goals and 14 assists in 19 games.

Daugavins was a third-round pick of the Ottawa Senators in 2006 (91st overall) and played seven seasons in the organization, including parts of three seasons in the NHL. Daugavins played 85 games with the Senators before he was plucked off waivers by the Boston Bruins in March of 2013. He played just six games with the Bruins before making his way to Europe the next season. During his brief NHL career, Daugavins registered six goals and nine assists while averaging just over 11 minutes of ice-time per game.

In other morning notes:

  • Frank Seravalli of Daily Faceoff mentioned on Daily Faceoff Live that Ottawa Senators forward Josh Norris has had his name come up in conversations that the Senators have been having, presumably with other teams. Ottawa has struggled out of the gate this season and has failed to live up to expectations once again. Their core is signed to significant long-term deals, and Norris is one player who hasn’t lived up to his paycheck. That being said, moving Norris would be very difficult given his cap hit and injury history. The 25-year-old has been decent offensively this year, posting eight goals and six assists in 21 games while starting 56% of his even-strength shifts in the defensive zone.
  • Sidney Crosby’s off-season extension with the Pittsburgh Penguins appears to have done nothing to cool the trade rumors that continue to be pushed out about him. On yesterday’s edition of TSN Overdrive, Bryan Hayes floated out what a potential Crosby trade to the Toronto Maple Leafs would look like. A deal involving the two sides is highly unlikely, given Kyle Dubas’ history with the Maple Leafs and Crosby’s desire to finish his career in Pittsburgh. However, thanks to the Penguins’ massive struggles as of late, a Crosby trade out of Pittsburgh doesn’t look as impossible as it did a month ago. Pittsburgh figures to be busy in the coming months if they don’t turn things around. However, the chances that Crosby is moved remain relatively close to zero.

East Notes: Crosby, Kane, Rasmussen, Zub, MacEwen

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History was made in last night’s matchup between the Pittsburgh Penguins and Utah Hockey Club. Sidney Crosby, the Penguins captain and franchise icon, became the 21st player in NHL history to record 600 goals in his career.

Given that Crosby is still signed for two more years beyond this season in Pittsburgh, it’s a guarantee he will finish much higher than 21st on the all-time goal list. Should he continue to average between 30-40 goals a season, avoid injury, and retire after his extension, Crosby could finish his career 12th all-time in goals and potentially catch another franchise legend Mario Lemieux at 690.

It’s another impressive milestone in arguably the best career of the salary cap era. Crosby is already top-10 in the all-time points list and should pass the likes of Joe Sakic, Lemieux, and Steve Yzerman before he finally decides to hang up his skates.

Other notes from the Eastern Conference:

  • The Detroit Red Wings may be light up front in tomorrow night’s contest against the New York Islanders. Ansar Khan of MLive reported this morning that forwards Patrick Kane and Michael Rasmussen weren’t on the ice for practice. Rasmussen’s absence is likely tied to the body check received from Boston Bruins’ forward Mark Kastelic in last night’s loss. There should be more context regarding Kane’s absence after the practice.
  • TSN Ottawa reported this morning that the Ottawa Senators are without defenseman Artem Zub and forward Zack MacEwen at practice. No additional context was provided regarding the availability of either player for Ottawa’s game tomorrow night against the Calgary Flames. Still, it likely explains the Senators’ call-up of forward Zack Ostapchuk a few hours ago.

Penguins Notes: Karlsson, Crosby, Lizotte

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Former Team Sweden head coach and general manager Johan Garpenlöv had some harsh criticism for Pittsburgh Penguins defenseman Erik Karlsson and his inclusion on Sweden’s entry to the 4 Nations Face-Off (as per Frank Seravalli of Daily Faceoff). Garpenlöv said that Karlsson’s defensive issues could present a massive problem for the team in a short tournament and doesn’t believe that Karlsson should be a member of the team.

Garpenlöv’s sharp words are certainly inflammatory, and there is no doubt that Karlsson’s defense leaves a lot to be desired. Pittsburgh fans have endured the full Karlsson experience this year as the three-time Norris Trophy winner has looked disinterested and lost on many nights, however, in other games, he has managed to take over and drive the Penguins’ offense to victory.

In other Metropolitan Division notes:

  • Jesse Marshall of The Athletic wrote a very thoughtful and detailed article about the goal-scoring prowess of Penguins superstar Sidney Crosby. Marshall concedes in the article that Crosby won’t go down in history as one of the greatest goal-scorers but belongs in a category all by himself due to the creativity with which he scored most of his soon-to-be 600 career goals. Marshall highlights Crosby’s all-time great backhand shot, his ability to deflect pucks as well as his five-hole shooting, and while none of those skills are Crosby’s alone, he has put a unique twist on each of those skill sets.
  • Penguins forward Blake Lizotte left tonight’s game against the Detroit Red Wings after taking a puck to the face (Twitter link). The injury marks the second time this season that Lizotte has taken a puck to the face off the stick of a teammate as he was concussed by a Kris Letang shot during the preseason, an injury that forced him to miss the start of the regular season. Tonight’s injury came when Lizotte was hit in the face with a Drew O’Connor shot that appeared to hit the visor. Lizotte has been good for Pittsburgh this season, posting two goals in six games and putting up strong possession numbers in a bottom-six role.

Metropolitan Notes: Crosby, Ovechkin, Broz

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Sidney Crosby’s extension structure could help open the door to a trade deadline move in 2027 if the Penguins aren’t competitive in the final year of his new deal, Rob Rossi of The Athletic writes.

The two-year, 35+ extension Crosby signed yesterday will be paid out mostly via signing bonuses – $15.53MM of its $17.4MM total value, to be exact. That means his base salary for the final year of the contract is just $1.09MM, per PuckPedia.

By the time the trade deadline rolls around in March 2027, Crosby would only cost roughly $240K in actual cash to any team hoping to bring the generational talent to their city for a Stanley Cup run. It would also be a relatively cheap proposition for a team to acquire Crosby during the 2026 offseason after his $6.53MM signing bonus is paid out on July 1, especially if the Penguins retained half his salary to reduce his cap hit to $4.35MM, as Rossi points out.

While core piece Kris Letang is signed through 2028, Crosby’s second-in-command at center Evgeni Malkin is now slated for free agency a year earlier than Sid in 2026. “If, after next season, one or both of his dear friends have moved on and the Penguins aren’t closer to winning their first playoff series since 2018, who would begrudge Crosby for wanting what could be his final NHL season to be a shot at the Cup somewhere else?“, Rossi wrote.

More from the Metropolitan Division:

  • Moving to Crosby’s longtime rival, Capitals captain Alex Ovechkin is no worse for wear after appearing to strain a muscle early in Monday’s informal skate, reports Sammi Silber of The Hockey News. Ovechkin, who turns 39 today, participated in another informal skate Tuesday with no apparent restrictions ahead of training camp beginning Wednesday. The 2004 first-overall pick enters the season 41 goals shy of Wayne Gretzky’s all-time record of 894.
  • Back to Pittsburgh, Penguins center prospect Tristan Broz is quickly pushing his way up the organizational depth chart amid a strong rookie camp performance, writes Matt Vensel of the Pittsburgh Post-Gazette. The Minnesota native, who turns 22 in October, was a second-round pick back in 2021 and will embark on his first professional season this fall after winning a national championship last season as a junior at the University of Denver. Broz finished fourth on the loaded Pioneers team in scoring with 40 points (16 G, 24 A) in 43 games. A spot on the opening night roster will be difficult to land, but he’s at least putting himself high on the list of potential in-season call-ups from AHL Wilkes-Barre/Scranton.

Penguins Sign Sidney Crosby To Two-Year Extension

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The Penguins have signed captain Sidney Crosby to a two-year, $17.4MM contract extension, the team announced. It carries a cap hit of $8.7MM.

Crosby’s deal will be paid out mostly in signing bonuses, per PuckPedia. He’ll earn $780K in base salary with a $9MM signing bonus in 2025-26 and a $1.09MM base salary with a $6.53MM signing bonus in 2026-27. As suspected, his contract includes a full no-move clause.

In an instant, a giant cloud that would have loomed over Pittsburgh’s training camp later this week dissipated. The two-year pact ends an unexpected extension saga that began two months ago after reports that Crosby and the Pens were finalizing a deal went unfulfilled.

Some anxiety returned when Elliotte Friedman of Sportsnet said on the “32 Thoughts” podcast earlier this month that Crosby was still weighing multiple extension offers from the Penguins but had yet to put pen to paper because he wasn’t sure whether he’d be able to “handle” missing the playoffs on a retooling club while still performing at an elite level. The 37-year-old told Friedman last week that he was “pretty optimistic” an extension would be done before training camp.

The two-year length shouldn’t come as a surprise to anyone. It allows the Penguins more salary cap flexibility in the future should the aging curve finally come for Crosby, as alluded to by Friedman on Friday, and it also gives him another opportunity to move on from Pittsburgh in 2027 should the Penguins’ record not return to a meaningfully competitive level.

Entering his 20th season, Crosby is still the heart and soul of hockey in Pittsburgh. The 2005 first-overall pick finished ninth in both Hart and Selke Trophy voting last season after leading the Penguins in goals (42), assists (52), points (94), and shots on goal (278).

“There are no words to properly describe what Sidney Crosby means to the game of hockey, the city of Pittsburgh and the Penguins organization,” said general manager Kyle Dubas. “Sidney is the greatest player of his generation and one of the greatest players in the history of the game. His actions today show why he is one of hockey’s greatest winners and leaders. Sid is making a tremendous personal sacrifice in an effort to help the Penguins win, both now and in the future, as he has done for his entire career.”

Crosby could have become an unrestricted free agent for the first time next summer without an extension. The three-time Stanley Cup champion is entering the final season of the 12-year, $104.4MM mega-deal with an $8.7MM cap hit he signed in 2012. The first deal he signed following the expiry of his entry-level contract, a five-year, $43.5MM pact that covered from 2008-09 to 2012-13, also had an $8.7MM AAV.

He is still playing at a superstar level, yet this is a much more cost-effective contract for Pittsburgh than his previous ones. That first extension cost 15.34% of the cap when it went into effect in 2008, while today’s deal takes up just 9.89% of the salary cap at its start. That’s not to say his previous deals weren’t bargains, though – The Athletic’s Dom Luszczyszyn estimates Crosby has left roughly $43MM on the table throughout his career by taking deals lower than market value.

Assuming a $92MM salary cap for 2025-26, the Pens have $23.3MM in projected cap space for next season with seven open roster spots, per PuckPedia. They only have one notable pending RFA, fresh trade pickup Cody Glass. But there’s a decent slate of pending UFAs on Pittsburgh’s books, headlined by defenseman Marcus Pettersson. Those extension talks are expected to shift into high gear with Crosby’s deal becoming official.

Crosby sits 21st in league history in goals (592), 14th in assists (1,004), 10th in points (1,596), and eighth in points per game (1.25) among players with at least 500 appearances. The latter is the most telling stat, with concussions costing ’Sid The Kid’ a good chunk of his prime in the early 2010s. He was rightfully named among the 100 greatest players in NHL history during the league’s centennial celebration in 2017.

The Penguins have missed the playoffs in back-to-back seasons, their first time outside the playoff picture since Crosby’s rookie season in 2006. Both sides hope Crosby’s discount deal helps them return to form.

Image courtesy of USA Today Sports.

Snapshots: Crosby, Ullmark, Perfetti

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Elliotte Friedman spoke on his 32 Thoughts podcast about Sidney Crosby’s contract negotiations with the Pittsburgh Penguins. Friedman believes that Crosby will sign a short-term deal because he doesn’t want to leave the Penguins in a difficult salary cap situation if his play was to fall off. Friedman adds that he has talked to sources who’ve said that Crosby doesn’t want to do anything that would affect the long-term outlook for the Penguins or his legacy with the team. Crosby is coming off one of the finest seasons ever for a 36-year-old after posting 94 points in 82 games and appears more open to playing into his 40s, however, no one knows if that is his intention.

In other news from around the NHL:

  • Elliotte Friedman reported on the 32 Thoughts podcast that the Boston Bruins traded Linus Ullmark to the Ottawa Senators before signing Jeremy Swayman, because they were concerned that if they waited until July, Ullmark could change his no-trade list and put Ottawa on it. Boston did not have to ask the former Vezina Trophy winner for permission to move him to the Senators, however, it did create a situation where they now rely solely on Swayman for starting goaltending this season, which could be problematic if Swayman misses any length of time due to a contract dispute.
  • The Winnipeg Jets and forward Cole Perfetti appear to have a gap in the financials regarding the 22-year-old’s contract extension (as per Elliotte Friedman). Perfetti is reportedly negotiating a bridge deal with the Jets, and while they appear to be on the same page with regard to terms, the two sides have room between them when it comes to dollars. Perfetti is coming off his third NHL season and posted 19 goals and 19 assists last year in 71 games while averaging just 13:35 of ice time per game. He was benched down the stretch last season but does seem poised for a breakout this year, particularly if he can continue to generate chances in the offensive zone and post good defensive numbers.

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