I’m not sure if there is such a thing as pragmatic impracticality. But if such a concept exists, it could be summed up by the Pittsburgh Penguins’ decision to extend Evgeni Malkin’s contract.
On Tuesday, Penguins president of hockey operations Kyle Dubas inked the 39-year-old former Hart Trophy winner to a one-year deal worth $5.5 million. The deal can reportedly add another $3.5 million in incentives based on games played, postseason qualification and playoff advancement.
While Evgeni Malkin’s #pens extension is worth $5.5 million guaranteed, sources say he can also earn:
** $500,000 in games played bonuses
** $1M if #pens qualify for the playoffs
** $500,000 for each playoff round won
Malkin’s new contract includes a no-movement clause
— Chris Johnston (@reporterchris) May 26, 2026
The contract is practical in the sense that the Penguins are retaining a point-per-game player who is a team icon. Sidney Crosby wanted this. The fans wanted this. And it’s likely that the incoming ownership group, the Hoffmann Family, wanted no part of shoving Malkin out the door to be one of the first storylines hovering over the organization whenever it eventually does take control.
Not to mention, Malkin isn’t going to cost much. He’ll have a cap-hit decrease of $600,000 from last year. Even with Malkin’s cash added to the books for 2026-27, the Pens will have a little more than $37 million in salary cap space entering the summer. That’s fifth-most in the NHL, according to Puckpedia.
On top of that, TribLive also learned that there is a three-team approved trade list for potential deals after Feb. 1. Also, as Dubas pointed out during his season-ending press conference, Malkin really isn’t blocking anyone at the AHL level from a roster spot.
For all those reasons, there’s pragmatism to this contract.
Best day ever. pic.twitter.com/qiqShuCEyH
— Pittsburgh Penguins (@penguins) May 26, 2026
Where the impracticality comes into play is … well … just about everywhere else.
• While Malkin may not be blocking anyone from an AHL promotion, his presence will be blocking either Ben Kindel or Egor Chinakhov from a promotion to the top power-play unit. That’s despite the fact that Malkin’s power-play efficiency has faded over the years. He has tallied a mere four power-play goals in each of the last two seasons.
Unless this agreement came with some sort of understanding that Malkin would be bumped down to the second unit, that’s a problem.
• Speaking of who Malkin may or may not be blocking, one of the few unrestricted free agents that has been linked to the Penguins of late is Mason Marchment. He played under a cap hit of $4.5 million last year in Columbus and Seattle. If he signs in Pittsburgh, he’s likely to make just as much as Malkin, if not more.
Is Dubas really going to bring a contract like that on board to play him on the third line behind Malkin, Chinakhov, Rickard Rakell and Bryan Rust? Do Malkin or Rakell go back to center? If so, does Ben Kindel stay as the third-line center?
Not only does extending Malkin keep the Penguins roster old, but the decision also limits its flexibility.
• On the topic of age, for a team that constantly talks about getting younger, the roster keeps staying old.
With an average age of 29.9 for committed players in 2026-27, the Pens are the seventh-oldest club in the NHL. The Penguins’ top six point producers last year were all 33 years of age or older.
During his season-ending press conference, Dubas lamented the absence of top-tier players in the system in their mid-to-late 20s. At 25, Chinakhov appears to be the only player in the forward unit who fits that description.
Extending Malkin does nothing to mollify that issue.
• Dubas also bemoaned the amount of goals and scoring chances the Penguins gave up last year.
“Defensively, we still continue to give up a lot, both in terms of what we’re expected to give up, and in terms of what we actually gave up. Both were in the bottom 10 in the league, and it was a big, massive topic for Dan (Muse) and myself throughout the year,” Dubas said after the team was eliminated by Philadelphia. “It’s the area that we have to improve upon the most if we’re going to continue to make strides and continue to push the team back into being a contender.”
At 40, there’s no way Malkin is helping the cause in that regard.
• I understand that Malkin is a point-per-game guy. I’ve heard it a million times from his ardent defenders in the Penguins fanbase and media.
That’s one thing when you play 56 games. It’s quite another when you are shooting for 84 when the NHL schedule expands next season.
Then again, are the Pens really shooting for 84 games out of Malkin? Or is Dubas going to consider NBA-style load management for the 40-year-old future hall of famer?
Based on some things Dubas said two weeks ago, it sure sounds like he is considering it.
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Malkin had a few stints on the injured list last year. He also served a mid-year suspension. Dubas insisted that it gave the former Conn Smythe winner “a renewed energy” every time he returned.
“The different times off during the year really served him well. We were fortunate in that regard. You never feel that in the year at the time. You think, ‘Geez, he’s out. That stinks.’ But every time he came back from being out, he played his best hockey,” Dubas said.
The problem is, some of those bonuses Malkin will be aiming to land are for games played — $250,000 when he hits Game 42 and $250,000 more at Game 63. I can see that being a sticky issue if Dubas forces Malkin into planned downtime before the bonuses are secured.
• Finally, there is the overriding disconnect in logic between a team that is attempting to get younger and rebuild (retool, reload, reinforce, however you want to phrase it) while holding onto what remains of a former All-Star.
“It’s incumbent upon me to make those decisions and do what’s best for the Penguins in the long run, but I know this is a very special situation in terms of the nostalgia of it,” Dubas said.
Yeah. And now we know the price of “nostalgia.” It’s probably going to be in the neighborhood of about $5.5 million to $7 million dollars.
And another 365 days of keeping the Penguins stuck between two worlds.
Listen: Tim Benz and Mark Madden talk about the Penguins offseason in this week’s “Madden Monday”
