NHL Rumor Mill – July 22, 2025
The latest on Penguins defenseman Erik Karlsson and forwards Bryan Rust and Rickard Rakell, and an update on Devils defenseman Dougie Hamilton in today’s NHL Rumor Mill.
THE LATEST ON ERIK KARLSSON, BRYAN RUST AND RICKARD RAKELL
THE SPORTING NEWS: Sam Bernardi cited Bleacher Report’s Frank Seravalli claimed recently that the Carolina Hurricanes are among the teams that spent some time investigating Erik Karlsson.
Pittsburgh Penguins winger Rickard Rakell (NHL Images)
The 35-year-old Pittsburgh Penguins defenseman is signed through 2026-27 with an average annual value (AAV) of $11.5 million, of which the Penguins carry $10 million. However, in actual salary, he’ll be paid $11.5 million over the remainder of his deal.
Seravalli also suggested the Penguins might have to retain salary to entice clubs to pursue Karlsson. Bernardi believes the Hurricanes would have to move Sean Walker or Jalen Chatfield to make room for Karlsson on the right side of their blueline.
SPECTOR’S NOTE: Karlsson could be moved this summer if he’s willing to waive his no-movement clause, and if the Penguins agree to eat a chunk of his AAV in the deal.
Karlsson is more likely to be moved near the March trade deadline, depending on his performance this season and how much salary the Penguins are willing to retain.
PITTSBURGH HOCKEY NOW: Dan Kingerski calculated the trade values of Bryan Rust and Rickard Rakell. He indicated that the Penguins have set a “sky-high” asking price for both forwards.
Kingerski doesn’t expect Rust or Rakell would fetch anything comparable to what the Buffalo Sabres received for JJ Peterka or what the New York Islanders got for Brock Nelson.
Rakell might be worth a good B+ level prospect or player, a draft pick in the range 25th to 48th overall, and a depth NHL player. The “sky-high” asking price for Rust might be a guaranteed first-rounder and a promising young player who might become a first-line forward within a couple of seasons.
SPECTOR’S NOTE: As with all speculation over the trade value of a player, Rust and Rakell could bring in returns that are better or worse than predicted. Much depends on their performances this season and the level of desperation of the clubs interested in acquiring them.
AN UPDATE ON THE DOUGIE HAMILTON TRADE SPECULATION.
NEW JERSEY HOCKEY NOW: If the Devils intend to trade Dougie Hamilton this summer, James Nichols believes it could hinge on what happens with several other defensemen in the rumor mill.
Hamilton, 32, has three years left on his contract with an AAV of $9 million and a 10-team trade list. He could become a salary-dump trade candidate if the cost of re-signing restricted free agent (RFA) blueliner Luke Hughes exceeds $7 million annually. The Devils currently have around $6.9 million in cap space for 2025-26.
One is Rasmus Andersson of the Calgary Flames. The 28-year-old blueliner is eligible for unrestricted free agent (UFA) status next July. It’s believed he’d like a change of scenery and he carries an affordable $4.5 million cap hit this season.
The other, of course, is Erik Karlsson of the Penguins.
SPECTOR’S NOTE: Andersson would be the more desirable of the two in the trade market given his age, all-around skill and cap hit. The Flames are believed to be willing to entertain offers but they aren’t shopping him. General manager Craig Conroy said he’s fine with Andersson being in the lineup this season.
If Andersson and Karlsson are holding up the trade market for defensemen, and if Hughes’ next contract exceeds their current cap space, the Devils might have to consider moving someone other than Hamilton to become cap-compliant.
If Dubas has, indeed, set a “sky-high” price for Rust and Rakell as described by Lyle above, the former, like Crosby, will eventually retire a Penguin for life, and Rakell will finish his career there as well.
Yes, both have just enjoyed the best offensive statistical seasons of their careers, but both Rust ($5,125,000 per) and Rakell ($5,000,000 per) have 3 years left on their deals at which point they will be 36 and 35 respectively, and it’s doubtful either will surpass their recent season as they get older.
According to Puckpedia: Pittsburg showing 23 man roster. Only 10 players listed are under contract next season, including the 3 players in the rumors. 14 of the players are 30 years old or over. Does Pitt go into season looking to be competitive? Could be a total rebuild come tdl.
Agreed Slick, I think it’s pretty clear that is the long term plan. If I had to guess, Dubas just seems to be moving a bit slower than the total fire sale with Crosby on the roster.
Or maybe he thinks he can make the return a bit better waiting for the TDL.
Slick62, those 10 who are the only ones under contract for the 2026-27 season – Crosby, Rust, Rakell, Novak, Brazeau, Karlsson, Letang, Graves, Wotherspoon and Jarry – will range in age at some point in that season from 29 to 39, with the average age being 33.5.
To add to what you said George, both Rust and Rakell shooting % were about 5% higher than their average and both played just below 20 minutes per game, including more PP time. So would either enjoy the extra playing time, especially PP time on a contender, not likely. If either player gets off to a poor start for the 25-26 season, Dubas may find his assets have become more of a liability and a poor season may turn them into anchors. You can add both players defensive responsibilities slipped too
George
5 million will be new new 3rd line player salary in 3 yrs so even if they drop some will not be over paid I would bet at least one gets moved at this years trade deadline. For a boatload of futures
Only if, MrBruin4, they are close to or at last year’s production, As Yogi points out, a slow or poor start which doesn’t show improvement as trade deadline approaches could be a signal that Dubas has a couple of budding albatross contracts on his hands. And that applies to both Karlsson and Letang as well.
There will be a lot of finger-crossing and whistling past the graveyard in the Pittsburgh organization this October if Dubas doesn’t move them this summer.
I’m not worried about production at all. And 5 mil for top 6 wingers are steals for contracts with the cap rising.
I am worried about injury though.
Chrism, if I were you I would be worried. Even Sid, as good as he is, can’t carry those 2 forever. Next year San Jose might not need an over the hill scorer then what. You dump those two for whatever you can, next year you may have to tie sweeteners around them
LOL, Yogi, Penguins likely aren’t giving either Rust or Rakell away – sell high on each or keep them. Each players stats comparing to their contracts bargain, unlike few of your Maple Leafs choke artists.
Over the hill? They in their early thirties! I’d be worried if they were signed to 5-8 year contracts but their contracts only carry into mid thirties. The contracts are fantastic considering the cap increase. And Crosby does help carry them and shows no sign of slowing down. But that’s what makes him still a star… he can make others around him better. I’ll retort with who on the leafs does that? Makes the players around them go from 3rd liners to 2nd liners? 2nd liners to 1st liners? Sid still does. Nobody on the leafers does that. So… 😝
Well, somebody – or a collection of them – annually make the Leafs a lot tougher 2 points each night than the Penguins 4-man (aging) band have been doing for several seasons.
Who on the sens drags their linemates up? 😝. I’m enjoying the roller coaster ride of a near dynasty as it comes into the station. But to sell the value of rakell or rust short is sour grapes. Both have high value… unless they injure themselves… which historically is a good bet.
I would not go near E.Karlsson . Maybe at 50% I would listen to the ask.
At least Hamilton can play a little physical a little cheaper and a little younger. Odd he has been moved as frequently as he has
Rasmus Andersson probably the best potentially available all things considered . Conroy will look for 3-4 good assets. Pick prospect player
Sounds like the Pens don’t want to move the forwards. Rust has a tough time making it through an entire season over his career and no way Rakell repeats last season.
Hamilton. Is a tough as charmin. No way to hide that
I could see the Canes acquiring Karlsson in the off season. Something along the lines of:
To CAR: Erik Karlsson
To PIT: Jesperi Kotkaniemi, Bradley Nadeau, conditional 1st in 2028
Hard pass if that’s the case. Karlsson is basically a half-step above a salary dump at this point. He could be a handy guy on the roster at a low-ish cost, but I’d certainly not give up anything of significant value. And a Canes top prospect (if not THE top prospect) and a 1st seems to be a vast overpay.
This of course, is probably moot, since they don’t really need a D, anyway.
JK and a 3rd to take Karlsson (at $6M) off your hands.
If the Penguins are to retain more salary for Karlsson, then buyers will need to add more to the return to Pittsburgh.
In which case he finishes his contract in Pittsburgh.
@ Craig..CarolinA is a perfect fit for Karlsson ..
They have a great system, a great coach a great team and a great partner to shelter him…..jakob slavin
Karlsson @ $6 m to Car
Gostibehere @ $3.2 m to Pitt
Thoughts
This would be big…This was an interesting nugget from Michael Russo. He reports the Minnesota Wild and Kirill Kaprizov are far apart on a new contract. Makes you wonder if it will be in Minny or if he wants to go to a different market…
https://x.com/DailyFaceoff/status/1947400465307799624
I thought the Wild owner already said that he would make Kaprizov one of the highest paid forwards in the game?
Problem is so will every other team
MrBruin4, I meant he said he would match any offer.
Sr, he will be an UFA next year, so he can take the highest bid and play in the city he wants to play. And that message just got heard by 31 other teams, although I imagine only a couple have a realistic chance (NYR lose one Russian, pick up a new one?).
The Canes have still not made sure they have a top notch powerplay. would they of made it to a SCF in this team’s era if they had?
Why not EK for them?
Ds the 2 Stanley cup finalists finished 9th and 14th on the power play goals this year. Pittsburgh finished in the top 3. Would you rather have EK and his power play stats or Edmonton and Fla in the cup finals!?
SR
different teams aka the Cup champ with Bob in net. the Canes do not have a Bob
their last 2 series loses vs the Rangers their powerplay was terrible. they did get 3 PPG vs the Panthers this run.
Cane were 25th in PP %.
how many more runs can they have it with this core?
also i personally wouldnt want EK at this point in his career but not sure a Hamilton reunion could work….. Id go for Quinn since the world knows he wont resign
With RD Nick Jensen’s hip surgery rehab progressing well, it’s beginning to look like he could be ready for training camp
https://thehockeynews.com/nhl/ottawa-senators/latest-news/senators-defenseman-nick-jensen-apparently-making-good-strides-in-recovery-from-hip-procedure
That would mean Ottawa’s D pairings and 7th D are likely to be
Sanderson – Zub
Chabot – Jensen
Kleven – Spence
Matinpalo
Which would mean – and unless he blows everyone away in the pre-season – highly-acclaimed rookie RD Carter Yakemcuk starts off with some AHL seasoning in Belleville. Which might not be a bad thing. There’s also the possibility that, if he DOES wow them again like he did last pre-season, RD Zuib and his $4.6 mil cap hit could be moved.
Good problem George. I’m always the guy advocating for D to get big minutes and reps in the AHL before making the jump. In all situations for a guy like Yakemchuk, especially PP and PK.
Both Chabot and Sanderson get plenty of PP time with Sanderson getting over 3 minutes a night on average. Yakemchuk, judging from his point totals, seems to have that skill as well.
So if he flourishes, offensively & PP, is Zub the guy to move? I’m talking a couple years down the road & just throwing it out there. It won’t be Sanderson, we pretty much know that.
None of the top 6 have options left, and they just signed RD Matinpalo to a one-way deal, so it wouldn’t hurt to see Yakemchuk begin in Belleville.
There will be dings and irritations that keep a player out for a few games – unavoidable really in the early going – so if he’s playing well in he AHL, he’d likely be the first call-up if the games to be missed are by one of the 4 RD.