Penguins Re-Sign Evgeni Malkin to Four-Year, $24.4-Million Contract Extension
Evgeni Malkin is staying in Pittsburgh for four more seasons.
The Penguins centre, who was previously believed to be headed to the open market, changed his mind at the last minute and agreed to a four-year contract extension late Tuesday night. His new deal will carry a $6.1 million cap hit per season through 2025-26.
As part of his contract, Malkin will have full control over his future as it includes a no-move clause across all four years of the deal. If he ever wants to be traded, it’ll be his – and only his – decision to make.
Shortly after announcing the news on social media, Penguins general manager Ron Hextall released a statement regarding the signing.
“Evgeni [Malkin] is a generational talent who will be remembered as one of the greatest players in NHL history,” Hextall said. “His hockey resume and individual accomplishments speak volumes about him as a player, and we are thrilled to watch him continue his remarkable legacy in Pittsburgh.”
The 35-year-old was selected second overall by the Penguins in 2004 and has remained there ever since, spanning 16 NHL campaigns. He’s a two-time Art Ross Trophy winner and also won the Hart Trophy in 2011-12.
Malkin, who’s a three-time Stanley Cup winner, has appeared in 981 regular-season games with the Penguins. In total, he’s scored 444 goals and 1,146 points in his memorable career.
In the playoffs, Malkin has posted 67 goals and 180 points through 177 career contests. He was named the 2009 Conn Smythe Trophy winner after finishing with a team-high 36 points as this current Penguins core captured its first of three Stanley Cups.
Suffice to say, Penguins fans couldn’t be happier to have Malkin – someone that’s viewed as one the most notable players in franchise history – sticking around through at least the 2025-26 season.
After extending defenceman Kris Letang to a six-year deal, which carries an identical $6.1 million cap hit, earlier this off-season, Pittsburgh’s front office has successfully locked up its core. But their work is far from complete.
Kasperi Kapanen, who scored 11 goals and 32 points in 79 games during his second season with the franchise, is a restricted free agent with arbitration-eligibility. The 25-year-old featured a $3.2 million cap hit last season and will likely carry a similar figure in 2022-23.
A major problem the Penguins are facing, however, is creating enough cap space to improve their roster. Following Malkin’s extension, the club only possesses $4.2 million in spending before reaching the $82.5-million salary cap ceiling.
Pittsburgh has been eliminated in the opening round of the playoffs in each of the last four seasons, with their last series victory coming in 2018. For an ageing roster, there’s plenty of urgency to better equip this group to succeed in the postseason.
But as free agency begins, the Penguins now have one less area to address with Malkin officially staying in the Steel City.
-Thomas Hall
Twitter: @ThomasHall85
Photo: Michael Miller. This file is licensed under the Creative Commons Attribution-Share Alike 4.0 International license.