After a third-straight playoff miss and an aging core, the Pittsburgh Penguins may look to trade out valuable players this offseason. The team is in the midst of a rebuild and will continue to reshape the roster this coming free agency. General manager Kyle Dubas has shown his penchant for amassing draft picks. He may use the assets available to him to acquire more picks or prospects. Dubas has also been rumoured to want to move up from the 11th overall pick in the upcoming 2025 NHL Entry Draft. He would be looking at using substantial assets to make such a move. With these needs in place, pivotal players on the team could be moved to facilitate a shakeup.
Erik Karlsson – RD, $10M Average Annual Value for Two More Years
Erik Karlsson, 35 years old, has slowed down tremendously from his prime. The two-time Norris Trophy winner has struggled to put up the kind of production he did in San Jose and Ottawa. Through two seasons, he’s scored 56 and 53 points through 82 games. In addition to his offensive disappointment, he’s been a liability defensively for much of his time with Pittsburgh. Karlsson carries a steep $10 million AAV. However, the Penguins have more than enough room to retain some money on a trade. The Chicago Blackhawks were able to turn Seth Jones into a first-round pick and Spencer Knight by retaining $2.5 million of his $9.5 million dollar price tag. This kind of deal would make a ton of sense for the Swedish star.
Team Fit – Carolina Hurricanes
The “losers” of the Erik Karlsson sweepstakes in the saga that saw him traded to Pittsburgh, the Carolina Hurricanes could show renewed interest in Karlsson given their teams makeup. With a whopping $28.4 million in cap space, the Hurricanes possess more than enough space to fit Karlsson.
The team has 12 NHL forwards, and both goaltenders already locked up to contracts. Their only notable free agents are defencemen Brent Burns and Dmitry Orlov. Both are typically seen as offensive defenceman in a similar vein to Karlsson, but displayed significant regression this past season. Burns saw his production fall to 29 points over 82 games. Orlov similarly produced just 28 points over 76 games. Erik Karlsson’s 50+ point seasons could be an attractive asset to a team with more than enough assets, cap space, and a need for a player of Karlsson’s ilk. His cost would come relatively low as well, likely less than the first and Spencer Knight package Florida doled out for Seth Jones.
Rickard Rakell – RW, $5M AAV x 3 Years
Rickard Rakell is a significant trade asset in the pocket of the Pittsburgh Penguins. Acquired in 2021, Rakell’s been a productive scoring winger for much of his tenure with Pittsburgh. The Swedish star has scored 180 points through 252 games with the team. At 32 years old, age could become a concern. However, Rakell 2024-25 season was the best of this career, as his 35 goal, 70 point output are his highest goals and points total in a single season through his 14-year NHL career. With such a great performance, Rakell showed he’s still a significant scoring threat capable of boosting a contending team to the next level. The Penguins can expect to command a significant return for him in a time when the salary cap is skyrocketing.
Team Fit – Los Angeles Kings
Rickard Rakell is a name that’s been tied to the LA Kings a few times in the past year. Looking to push past the boogey-man that is the Edmonton Oilers, the Kings are a team looking to bolster their roster. Similar to Carolina, the Kings have a wealth of cap space, $21.7M to spend this free agency. Furthermore, the team also has a minimal amount of notable free agents to worry about. The biggest names on the team are Vladislav Gavrikov, Tanner Jeannot, and Alex Laferriere. Gavrikov is set to command a significant pay increase. Jeannot and Laferriere, meanwhile, are bottom-six wingers that aren’t likely to eat a significant amount of cap space. Rakell’s $5 million average annual value is easily absorbed by the team. Cost-wise, the Kings have all three of their next three first-round picks.
The LA Kings also have a wealth of younger wingers that Kyle Dubas would likely have some interest in. The crown jewel of a potential deal would probably be defenceman Jordan Spence. The 24-year-old right-shot defenceman has one more year left on a $1.5 million AAV contract. The young defenceman produced four goals and 28 points through 79 games from the backend in 2024-25. Spence’s name has come up recently in rumours due to a redundancy in this spot. The Kings have Brandt Clarke, a 22-year-old right-hand offensive defenceman, along with veteran right-handed defenceman Drew Doughty on the right side. Moreover, Spence is turning into a luxury Los Angeles doesn’t need. Making a deal centred around Spence and a pick for Rakell an attractive option for both sides.
Bryan Rust – RW, $5.25M AAV x 3 Years
Former third-round pick in the 2010 draft Bryan Rust is reportedly available for a significant price. The grindy winger is in an interesting position, as the unofficial fourth leader of the team after the big three. As we discuss a potential offseason trade, Rust has played his entire NHL career for the Pittsburgh Penguins, debuting in 2014-15. Furthermore, over his 11 seasons with the team, Rust has scored 437 points in 638 games. His playstyle has aged like a fine wine. Similar to Rakell, this past season was Rust’s best, with 31 goals and 65 points in 71 games. While Rust is a bit of an injury concern, he plays a great two-way game when he’s available. Rust is the type of winger that never gives up on the play. He could be the perfect complimentary piece on a high-end scoring line.
Team Fit – Vancouver Canucks
The Vancouver Canucks are in a very difficult position. Following a disastrous 2024-25 season that saw the departure of JT Miller, the team is left weak up front. Star centre Elias Pettersson has his own concerns, with his scoring dropping significantly over his last season and a half of play. With a projected $12.1 million in cap, the team has two significant free agents. Star winger Brock Boeser is likely leaving the team for a higher-value deal, and the same could come of Pius Suter. This leaves multiple holes in the middle-six needing to be filled. That all being said, the Canucks have many reasons to look forward to the future. Superstar defenceman Quinn Hughes continued to show excellence throughout the season, and the team’s defence as a whole is much improved.
The Vancouver Canucks are not a team looking to rebuild just yet. Another factor that makes this potential move a good fit is the President of the Canucks being Jim Rutherford. The former Penguins GM is known to love his ex-players and was the manager who oversaw Rust’s rise as a player. He and general manager Patrik Allvin have already shown an affinity for the Penguins’ players, as they acquired defenceman Marcus Pettersson in a notable trade last season. A Bryan Rust trade would likely see the Canucks moved out one of their top prospects, Jonathan Lekkerimaki or Tom Willander along with a pick and a cap dump. Furthermore, this framework of a trade is one Penguins GM Kyle Dubas has repeatedly shown he likes, and could benefit both teams.
Big Trade Decisions for a Potential Pittsburgh Penguins Offseason Trade
Kyle Dubas and the Pittsburgh Penguins face a pivotal offseason in this teams rebuild. The organization possesses multiple high-value assets that could accelerate a rebuild that’s been ramping up for a couple of seasons now. The salary cap jumping up for the next few years gives a team like Pittsburgh an amazing opportunity to off-load relatively cost-effective impact players while building the next guard of this storied franchise.
