The Pittsburgh Penguins are in the middle of their rebuild, and even though they have been better than most people expected this season, they still have a long way to go. General manager Kyle Dubas has done a good job of stockpiling draft picks and prospects to help make the transition as smooth as possible. Another thing that will be on the Penguins’ side is the rising salary cap. Going into the 2026 offseason, Pittsburgh is going to have just under $49 million in available cap space. Dubas is going to have some big decisions to make in the summer of 2026.
What Could the Penguins’ 2026 Offseason Look Like?
Obviously, there is a lot that could change between now and next summer. However, if things stay exactly how they are now, the Penguins will have 12 unrestricted free agents (UFA) in the 2026 offseason. These players include Evgeni Malkin, Anthony Mantha, Kevin Hayes, Danton Heinen, Noel Acciari, Blake Lizotte, Connor Dewar, Joona Koppanen, Sam Poulin, Matt Dumba, Connor Clifton and Ryan Shea.
If Malkin wants to continue playing after this season, the Penguins will sign him to another one-year extension. They will probably also bring back Lizotte and Shea if they don’t move one or both of them at the trade deadline. Everyone else they will more than likely trade or let walk.
Even if Pittsburgh brings back Malkin, Shea and Lizotte, they will still have a lot of cap space left to work with. The UFA market is not going to be great next offseason, so the Penguins may choose to look at trades instead. Jordan Kyrou of the St. Louis Blues is one player Dubas should try to go after this summer.
This season, Kyrou has eight goals and seven assists in 26 games. There is no questioning his scoring ability; he has scored over 30 goals and 70 or more points in three of his past four seasons. His speed is the most attractive thing about his game, and he’s a huge asset to the Blues’ power play. He has also made huge improvements to his defensive game.
If Dubas decides to move Rickard Rakell or Bryan Rust at the trade deadline, Kyrou could be a good replacement. He is a top-six player who is good in all three zones. He has struggled a bit with producing on a consistent basis, but he has the talent to help push the Penguins toward the postseason.
Next season, Kyrou will have four years left on an $8.125 million contract, which also carries a full no-trade clause. It would take a lot for Dubas to get that deal done, but it is not completely out of reach. St. Louis is not having a great season so far. They are in desperate need of a goaltender and are looking at a full rebuild in the near future. There is still plenty of time for them to turn things around, but their situation is one the Penguins are probably already monitoring closely.
Penguins Preparing For the Future
A lot could change between now and next offseason. If St. Louis can’t turn their season around, they will probably be willing to make a deal for Kyrou. The Penguins have some valuable pieces to trade, including Arturs Silovs or Joel Blomqvist. The Blues could use a goaltender, and Pittsburgh is hoping Sergei Murashov will turn into their franchise goalie.
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The Penguins have been playing well, but there is still a chance the bottom could fall out from under them. If that happens, Dubas will continue to stockpile prospects and assets. No matter how the remainder of this season goes, he will have another busy offseason next summer.
