Free agency begins tomorrow in the NHL and the Pittsburgh Penguins have an enormous amount of cap space at their disposal. However, don’t look for them to use it on UFA’s. Pittsburgh isn’t too interested in UFA aged players who want a lot of term.
Instead, they will be looking to make trades to improve their roster. Perhaps using their cap space as an asset to acquire players below their true market value.
That is exactly what Kyle Dubas has done today. The Penguins and Vegas Golden Knights got together for a player for player swap this afternoon.
Pittsburgh is sending Parker Wotherspoon to Vegas in exchange for Kaeden Korczak
Why did the Penguins make this trade?
On the surface it seems strange for Pittsburgh to be moving Parker Wotherspoon. He was an under the radar signing by Dubas and provided the Penguins with a lot of competent minutes this past season. He was a set it and forget it partner for Erik Karlsson. There was nothing wrong with moving forward with Wotherspoon on the Penguins roster for 2026-27.
I believe the calculus on this deal is that Wotherspoon will be 29 by the time the next season begins. The Penguins don’t view him as a long term answer for what they are doing. With Wotherspoon having a successful season his value on the trade market will likely never be higher. Keep in mind, Wotherspoon was given a steady diet of minutes with the Norris caliber version of Erik Karlsson.
Wotherspoon being a left defenseman makes it much easier to find competent players at that position. Outside of Erik Karlsson the Penguins really struggle to get competent minutes from the right side of their defense group. Kris Letang is fading, Jack St. Ivany was recently traded, and Connor Clifton just runs around trying to hit people. It isn’t a great scene back there.
By trading for Kaeden Korczak they add a player who is 25 years old and signed for the next four years at 3.25M
What they are looking to get is a version of Parker Wotherspoon, but on the right side. Korczak is younger and the contract is taken care of already. Erik Karlsson will eat up all the big minutes. Korczak will just need to provide basic competent NHL minutes behind him.
He brings size and is competent defensively. Normally this is not the archetype of player I like seeking out, but if the size is combined with good defensive metrics then I have a lot more patience for it. It is when the size is the lone attribute and the on-ice play is a liability where I get bent out of shape.
Other benefits to the trade
This also doesn’t put unneeded pressure on Harrison Brunicke to be thrust into a role he may not be ready for in the NHL. Brunicke will be eligible to play in the AHL this upcoming season. By getting Korczak the Penguins will feel no pressure to keep Brunicke up with the NHL team, unless he has truly earned it. This provides a more flexible and appropriate development path for a player that will likely give the Penguins solid NHL minutes.
The salary retention is necessary because Vegas is up against the cap ceiling and the reason you are able to acquire a freshly signed Korczak is because Vegas doesn’t have the space. The Penguins are likely getting the better player over the length of Korczak’s deal and they are able to because they have used their cap space to their advantage, yet again.
Also, the retention is only for this upcoming season with Wotherspoon’s deal expiring. It isn’t like this will hang over the franchise and use up a retention spot if they want to get clever with other trades in the future.
Bigger trades on the horizon?
These are the types of moves the Penguins will be making. They won’t be making big splash UFA signings. The moves will be calculated towards using their cap space advantage while trying to get younger and targeting teams with less roster flexibility. Dubas has done a great job of targeting these types of deals and today’s deal is the latest example.
This is a tidy piece of business heading into the league’s free agency period, where there are surely more trades to be had in the coming weeks.
Personally, I would be looking for Pittsburgh to try and take a biggish swing on a left side defender. Perhaps teams looking to clear space for a potential Zach Werenski deal. Pittsburgh can sit back and see how this market plays out. They might even get someone below market value due to these other teams needing to shed salary quick for a big trade. Again, weaponizing their cap space with teams that lack flexibility.
This certainly won’t be the defense group the Penguins enter the season with. It is going to be really interesting to see how the Penguins play this market moving forward. To this point, Dubas has navigated their situation really well to put them in this spot.
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