Why a fire sale is best move for Penguins

After beginning January with a 2-4-3 record, it was reported by RG that the Pittsburgh Penguins were looking to blow things up and make several big trades before the NHL's March 7 trade deadline.

Pittsburgh began the new year with a .500 record, sitting only a point behind the Ottawa Senators for the second wild-card spot. Now, after a rough stretch, they sit four points out, and the second wild-card holder, the Montreal Canadiens, has two games in hand.

According to that same report by RG, the only untouchables for the Penguins would be star forwards Sidney Crosby, Evgeni Malkin and Bryan Rust, along with Philip Tomasino, a former first-round pick of Nashville acquired by the Penguins in November of this year, and Owen Pickering, a 20-year-old 2022 first-round pick who was recently called up to the NHL.

Unfortunately for Penguins fans, a fire sale might be the best way to go. They've missed the playoffs the past two years, and this season, they're on the outside looking in. Recent moves by general manager Kyle Dubas also haven't worked out. 

Goaltender Tristan Jarry, signed to a five-year extension one month after Dubas was named President of Hockey Operations, was recently waived and sent to the AHL after a poor season.

Offseason acquisitions like Kevin Hayes (12 points in 32 games) and Anthony Beauvillier (15 points in 48 games) have struggled as well.

Additionally, with the Penguins having made the playoffs for 16 straight seasons from 2007 to 2022, they weren't able to acquire many high-end prospects, leading to a 2024 prospect pool that ranks 20th, according to The Athletic's Scott Wheeler.

As Pittsburgh continues to fall out of the playoff race, it seems necessary to move some valuable assets to acquire younger players and draft picks; currently, their core consists of 37-year-old Crosby, 38-year-old Malkin and 37-year-old Kris Letang. 

Upcoming free agents like Beauvillier and Drew O'Connor (16 points in 49 games) may garner some interest and draft picks in return from teams looking to add scoring depth. 

More prominent names like the 31-year-old winger Rickard Rakell (40 points in 48 games) or the 34-year-old former Norris Trophy-winning defenseman Erik Karlsson (32 points in 49 games played) would be sure to have a return featuring prospects and/or picks.

Rakell, at $5M per year for three more years, would be the easier one to move as a top-line winger who has excelled playing with Crosby. Karlsson, however, at $11.5M per year for two more years, would require some salary retention from the Penguins to get back a decent haul. With just under $2.5M in cap space and some other moves in the cards, it's not unreasonable for Pittsburgh to retain.

An aging core, poor prospect pool, and slim playoff or Stanley Cup hopes should have the Penguins making some big moves leading up to the trade deadline. If they want to make one last run with Crosby, Malkin and Letang, the Penguins must acquire some future assets to do so.