Who Did the Penguins Sign
Just because the Penguins did not make any eye-popping signings does not mean that General Manager Kyle Dubas was not busy on the first two days of free agency. In fact, the Penguins signed eight players, none of whom carry an average annual value (AAV) exceeding $2.5 million, and none for a term longer than two years.
Dubas is looking to avoid any Ryan Graves-type contracts that would financially hamstring the Penguins for multiple seasons. Graves will make $4.5 million a year until 2029 which really hurts the Penguins financially.
Who did the Penguins avoid
While the Penguins did not make any newsworthy signings or trade acquisitions since the 2024/2025 season ended, they have nonetheless had a successful offseason. They have not committed significant financial resources to players who will not live up to the value of their deals, and they have maintained their financial flexibility not only for the upcoming trade deadline but also for the 2026 summer, when they will have a projected $51 million in cap room.
They will have room at the deadline to acquire some bad expiring deals in exchange for draft capital or prospects. The other free agency signings also make Rickard Rakell and Bryan Rust's contracts more appealing for other teams.
For example, the worst free agent signing so far is Tanner Jeanot, who signed a 5 year deal with an AAV of $3.4 million with the Boston Bruins. Jeanot scored 13 points last year, and now he is getting middle-six money for the next 5 seasons.