The curiosity and debate over the Pittsburgh Penguins and Evgeni Malkin is over. The Penguins’ long-time star forward will stick around through 2026-27 after signing a one-year deal worth $5.5 million.
After deciding he wanted to return, Malkin publicly needled Penguins general manager Kyle Dubas for months over a new deal, and Tuesday he got it.
“I want to play in the NHL for sure, but I know it’s not easy for Kyle. Maybe he wants new blood here. I understand it’s a business,” Malkin said on clean out day. “I understand he wants maybe a new team, see new faces here. For me, I want to play one more year in the NHL. I’m not looking (to go) back to KHL, play in Russia. But if not Pittsburgh, I hope some (NHL) team.”
Malkin has been a Penguins stalwart since his first season in the NHL when he helped end the Penguins’ Stanley Cup Playoffs drought and won the Calder Trophy. Since then, he’s won three Stanley Cups, the Conn Smythe, the Hart Trophy, and two Art Ross trophies.
Malkin will turn 40 on July 31, but had a revitalized season, registering 61 points in 56 games and being one of the Penguins’ offensive catalysts. As part of his return for next season, it seems his role might change, at least according to Dubas. One might note Dubas specifically mentioning Malkin’s evolving role.
From the World Championships in Switzerland, Dubas released this statement:
“Last season, Evgeni’s on-ice performance continually showed that he is able to produce at a great level and help the Penguins take strides. Off the ice, he showed tremendous leadership in helping our young Russian and Russian-speaking players adapt to our program and our city.
“Over the last several weeks, myself and Dan Muse have had very open discussions with Evgeni and his camp about him returning for the 2026-27 season, how his role will evolve and what all of our expectations are at this stage of Evgeni’s career and the current stage in the evolution of the Penguins.
“The result of that process is Evgeni returning to the Penguins for his 21st season with the club. We look forward to Geno continuing to provide great moments for the city of Pittsburgh, while helping us return the Penguins to Stanley Cup contention through his play on the ice and his leadership off the ice.”
UPDATE: Malkin’s contract could be worth $9 million with incentives, though some of them seem unlikely. Malkin will get a $500,000 bonus for an unspecified number of games played. He will get $1 million if the Penguins qualify for the playoffs, and make $500,000 for each playoff round the Penguins win.
Pittsburgh Hockey Now confirms that Malkin’s salary is $2.5 million with a $3 million signing bonus.
Update 2: The Malkin contract contains a no movement clause. The performance bonus is $250,000 after 42 GP; $250,000 after 63 GP.
Malkin Analysis
Malkin’s role will change next season.
Piecing together Dubas’s statements both released following the contract and his post-season press conference, expect Malkin’s role to be less than a full-time, top-six, top power play fixture.
During his presser on May 12, Dubas specifically noted Malkin was not built like Sidney Crosby or Kris Letang, and that Malkin was better after rest. The easy inference from that comment is that Malkin will be a healthy scratch at times throughout the season. The move would appear to both open a roster spot for prospects to get more time at the top of the lineup, but also keep Malkin fresh.
Perhaps Dubas found a way to move on and maintain, simultaneously.
Penguins forwards Egor Chinakhov and Ben Kindel will most likely vie for top power play time, too.
As for the contract, the money and term are in line with what was expected. Malkin’s salary cap hit goes down from last season’s $6.1 million, but his actual salary will go up because his previous four-year contract was front loaded with signing bonuses.
What took so long to get to a place that everyone expected is a good question, but for Malkin and the Penguins, the iconic career will last another 12 months (at least). Malkin gets to stay. Captain Sidney Crosby gets to keep his core-three in tact for one more season, and Penguins fans who vociferously took to social media to defend Malkin get their beloved star back, too.
All’s well that ends well.
Tags: Evgeni Malkin
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