Pittsburgh Penguins President of Hockey Operations and General Manager Kyle Dubas knew that the decision to shift to the future a year ago with the Jake Guentzel trade to Carolina wasn’t going to be a popular one.
And he knew that it was a decision he’d eventually have to make upon his arrival in the summer of 2023.
“I knew coming in here that decision would come,” Dubas said in his post-deadline press conference at UPMC Lemieux Sports Complex in Cranberry, Pa. on Friday. “It was going to be on me to make, and it wasn’t going to be popular. But that’s the position that I chose – and really, the opportunity that I chose – in coming to Pittsburgh, was that I knew with it was going to come that difficult time.”
And that time is now. The 2025 trade deadline sure was a very busy time for Dubas and his staff. Including the Lars Eller deal in November and the trade that sent Marcus Pettersson and Drew O’Connor to Vancouver in January, Dubas made eight trades this season, mostly to offload tradeable NHL assets to accrue futures.
To some, this might look like a full, tear-it-down-to-the-studs rebuild. But Dubas has continued to reiterate – again and again – that he’s trying to turn the Penguins’ bleak situation around as “urgently as possible.”
“I think I’ve always come in and said there’s no ambition, on my end, to have this take any longer than it needs to take, both for the city and for the people who have put in a lot to keep the Penguins at this level for a long time,” Dubas said. “And that’s not even just players, it’s staff that have been around for a long time. There’s a certain level, and when the level drops off, you don’t want the standards of the core ideology to erode. So, that’s what we work towards each day.”
And there was another interesting nugget that came out of his spiel about forward Rickard Rakell, who many expected to be dealt by deadline day. Here is everything Dubas said about Rakell:
“He is a big part of our program – and a big part of our program. I think everyone has seen this year – and he’s got a long history of the type of player that he is, but we see him every day – the type of person that he is as well. And, I think, when you have players who perform that way on a game-in, game-out basis that show the ability to respond when things don’t go well, and then can propel themselves back into being near the top of the league and perform at that level – especially when you have them signed and they want to be a part of the community, they want to be a part of the program, they know the path that we’re on and they want to be a part of helping to bring the team back into being in contention – I would say that you don’t just push that out the door because that may be what’s wanted. You have to do what’s right for the Pittsburgh Penguins, and for us, having RIckard Rakell as part of the Pittsburgh Penguins was definitely the right thing to do as we measured it up against everything. We’re happy to have him. He’s a big part of what we do, and I know he really wants to be here.
–
“There’s lots of interest in Rickard Rakell. We just decided that, based on where we were at, his value to us, the term remaining on his contract, and the way that he’s played and the player that he is, it was in the best interest of the team to have him remain.”
–
Obviously, GMs typically don’t show all their cards, and a lot of this could very well be “GM-speak” by Dubas to rack up Rakell’s trade value this summer, when many near-miss playoff contenders and disappointed playoff-exit teams will surely have interest in the top-line, goal-scoring, 31-year-old-winger. However, there’s something to be said about the fact that Rakell generated a lot of interest, yet the Penguins decided it was best to hold onto him.
Aside from, perhaps, the offers for Rakell not being as high as Dubas would’ve liked, it cannot be discounted that the Penguins simply value what Rakell brings for “where they were at” and “measured up against everything” – as Dubas said – and decided that they want to keep him around in general.
And if he actually does believe Rakell brings value for “where they’re at” – Rakell will have three years remaining on $5 million AAV deal, which will be a bargain when the cap rises by $7.5 million this summer – better days for the Penguins may not project to be as far off as some think they are.
Where the Penguins stand in terms of capital
Since the Guentzel trade, the Penguins have been collecting assets – both prospects and draft capital – to build their cupboard as much as possible.
Now, they’re in a spot where the next “phase” of the rebuild program will begin to take shape.
“I think we’ve spent the last 12 months, almost exactly, accruing assets and occurring flexibility in cap space,” Dubas said. “And now, we’ll begin to shift to the execution of that.”
And, in reality, they’ve done a good job in a short period of time.
Here are all eight of the in-season trades that Dubas has made this year:
-
Nov. 12: Penguins trade center Lars Eller to the Washington Capitals for a 2025 fifth-round pick and a 2027 third-round pick
-
Jan. 31: Penguins trade defenseman Marcus Pettersson and forward Drew O’Connor to the Vancouver Canucks for forward Danton Heinen, defenseman Vincent Desharnais, forward prospect Melvin Fernstrom, and a conditional 2025 first-round pick (NYR)
-
Mar. 5: Penguins trade defenseman Vincent Desharnais to the San Jose Sharks for a 2028 fifth-round pick
-
Mar. 5: Penguins trade forward Michael Bunting and a 2026 fourth-round pick to the Nashville Predators for forward Tommy Novak and defenseman Luke Schenn
-
Mar. 7: Penguins trade forward Anthony Beauvillier to the Washington Capitals for a 2025 second-round pick
-
Mar. 7: Penguins trade defenseman Luke Schenn to the Winnipeg Jets for a 2026 second-round pick and a 2027 fourth-round pick
-
Mar. 7: Penguins trade forward Cody Glass and forward prospect Jonathan Gruden to the New Jersey Devils for forward prospect Chase Stillman, forward prospect Max Graham, and a 2027 third-round pick
-
Mar. 7: Penguins trade a 2025 fifth-round pick to the Toronto Maple Leafs for defenseman Conor Timmins and forward Connor Dewar
If you’re also counting the original trade that brought Glass in last August – which gave Pittsburgh a 2025 third-round pick and a 2026 sixth-round pick – the Penguins have netted eight draft picks this season, with six of those falling within the first three rounds of the next three drafts.
As far as the entirety of the next three drafts – they have more picks than anyone in hockey – they have 30 picks, including 18 in the first three rounds:
The Penguins have 30 draft picks over the next three NHL Drafts, which includes four first-round selections and 18 picks in the first three rounds.
No team has more draft picks, or selections in the first three rounds, over the next three NHL Drafts than Pittsburgh. pic.twitter.com/UMsCgyYz9C
— Pittsburgh Penguins (@penguins) March 8, 2025
Not only is this great asset management, it also gives the team a lot of flexibility – with assets and with cap space – heading into this summer as far as the draft, the trade market, and free agency.
What Dubas can do to begin ‘executing’ the next phase
So how can Dubas and the Penguins take advantage of their situation and turn things around quicker than expected?
Well, as he mentioned, it comes down to execution. And in order to make the most of their situation, they’ll have to dabble in a little bit of everything.
For one, Dubas has indicated that they’ll use their flexibility in a variety of ways to give the future of the team – both in the immediacy and the long-term – a better outlook.
“I don’t know that it’s feasible to expect that we can use all those draft picks – to use every one of them – and then expect all of them in sequence to become part of the club,” Dubas said. “So, we’ll have those assets available for trade. We have cap space available in free agency. So, we’ll shift here a little bit from asset collection into continuing down that path, but also looking into how we can use the assets that we’ve acquired – whether it’s cap, flexibility, or the draft picks – to add to our group and add to our roster.”
Dubas added that if the opportunity arises to use their excess capital to add players that can help “propel [the team program] ahead,” they won’t hesitate. He also added that they’re “ready for all situations” – perhaps even the possibility of looking to the restricted free agent market.
“The scouting staff… we’ll prepare them as if we have to execute as best we can on all of them,” Dubas said. “But, I think we’ve talked about it at length – and teams around the league know – as we get close to the draft and restricted free agency coming up, whether players are going to sign or re-sign or not, we’ll be in the mix for all those young players that fit that next era of the team that can come in and help us right now.”
Some pending-RFAs – as of now, of course, since many will have signed extensions with their current teams by the time restricted free agency hits – will include:
-
C Morgan Frost (age 26, Philadelphia Flyers)
-
C Hendrix Lapierre (age 23, Washington Capitals)
-
C Mason McTavish (age 22, Anaheim Ducks)
-
C Marco Rossi (age 23, Minnesota Wild)
-
LW Matthew Knies (age 22, Toronto Maple Leafs)
-
LW J.J. Peterka (age 23, Buffalo Sabres)
-
LW Nicholas Robertson (age 23, Toronto Maple Leafs)
-
RW Luke Evangelista (age 23, Nashville Predators)
-
RW Alex Laferriere (age 23, Los Angeles Kings)
-
RW Fabian Zetterlund (age 26, Ottawa Senators)
-
LD Bowen Byram (age 24, Buffalo Sabres)
-
LD Mason Lohrei (age 24, Boston Bruins)
-
RD Drew Helleson (age 24, Anaheim Ducks)
-
RD Topi Niemela (age 23, Toronto Maple Leafs)
Obviously, there are other names out there as well, and – again – many of these players will sign prior to restricted free agency.
However, some of these players are on teams with uncertain courses forward – such as the Buffalo Sabres and Anaheim Ducks – creating a higher likelihood they may not extend and, instead, seek opportunity elsewhere.
Yes, Pittsburgh is in a similar situation, but there appears to, at least, be a plan to avoid a long-term teardown. And that opportunity might be enticing to some of those younger RFAs, and, possibly, even some bigger-name free agents – should the Penguins choose to spend in unrestricted free agency – especially since they have some AHL talent that will be on the rise over the next year-plus to play alongside them.
Forward prospects Rutger McGroarty, Ville Koivunen, Vasily Ponomarev, and Tristan Broz all have put together impressive seasons at the AHL level for the Penguins this season and have a good shot at cracking the NHL roster sometime in 2024-25. A few of them may even be on the NHL roster to start next season.
The same can be said for defensive prospects. This includes Owen Pickering, who spent a significant amount of time at the NHL level this season, and Harrison Brunicke, who – although just 18 years old – displayed an advanced hockey IQ and skillset that could earn him a nine-game run at the NHL level next season. And this is not even counting the Penguins’ three goaltending prospects – Filip Larsson, Joel Blomqvist, and the intriguing Sergei Murashov – who are all currently at the AHL level.
And this is also considering that they – very well – could have a top-five draft pick in both 2025 and 2026, which should land them elite talent that could, conceivably, crack the NHL roster immediately. They need to hit on those picks – preferably drafting at least one center – which does have a good chance of happening within lottery selections.
What this means for the possibility of a rebuild on-the-fly
If you combine the trajectory of the Penguins’ current prospects, draft position, the skilled veterans they have locked up for term now, the cap space they have available, and the assets they can leverage in trades for both young players with some term and restricted free agents – Dubas has mentioned the flexibility of the conditional first-round pick acquired in the Pettersson trade – this gives them a pretty realistic foundation to be competitive again in 2026-27.
I don’t know what’s so hard for #LetsGoPens fans to understand about the shift in Dubas’s priorities from the time he was brought in to now – and the fact that the ensuing moves have to be looked at differently.
Short thread: 🧵 (1/ )
— Kelsey Surmacz (@kelsey_surmacz4) March 5, 2025
They’re in a good enough position that they should be able to aim for short-term success without mortgaging the long-term future of the franchise. Dubas acknowledged the different lengths of contracts for their veterans and how everything lines up, but regardless, they’re doing their best to give them a chance to win before they hang up the skates – all without affecting the years ahead.
“Relative to the age of the group and their contracts, my goal is to try to build a group around those guys and give them one or two chances while they’re still on this [team],” Dubas said. “It’s trying to find guys that can come in, whether they’re our own players that come from Wilkes-Barre that are there now driving the team as younger players, or draft picks, or using those assets to add younger players. We’re not going to use those assets to add older guys. We have to do everything to make and execute smart decisions that help to drive the Penguins forward.”
Even though things are looking up for the team to be able to compete sooner rather than later, Dubas did make sure to throw some caution to the wind. While they are in a great position, they’re still going to be very calculated as far as their decision-making this summer and beyond.
“When I said, ‘it may not be as soon as people like,’ what I don’t want to have be the narrative or the expectation that we’re going to immediately spend all these assets this summer,” Dubas said. “If the right moves are there, then we will execute on those.”
He added: “We’re going to survey the landscape as urgently as we can each day to find moves that best help propel the team ahead. If there aren’t moves available, we will execute on these picks with our personnel staff with Andy Saucier and Wes Clarke to make sure that we’re bringing in the best young talent that we can.”
Again, it all comes down to the execution for Dubas and the Penguins’ staff. They have to hit on all their picks and signings. Their older players need to keep maintaining a certain level of play, and many of their young prospects and players need to pan out. A lot has to go right.
Let’s see what Dubas – and this next generation and phase of Penguins’ hockey – will make of it.
Bookmark THN – Pittsburgh Penguins on your Google News tab to follow the latest Penguins news, roster moves, player features, and more!
