NHL Rumor Mill – July 25, 2025
NHL Rumor Mill – July 25, 2025
The latest on Pittsburgh’s Erik Karlsson, Bryan Rust, and Rickard Rakell, and potential trade targets for the Penguins in today’s NHL Rumor Mill.
SPORTSNET: Sonny Sachdeva recently listed five potential trade destinations for Pittsburgh Penguins defenseman Erik Karlsson.
The Penguins carry $10 million of the 35-year-old Karlsson’s $11.5 million cap hit. Sachdeva noted that Karlsson was paid his $5 million signing bonus on July 1, meaning he’s owed $11.5 million in actual salary over the remaining two years of his contract.

Pittsburgh Penguins defenseman Erik Karlsson (NHL Images)
Karlsson has a full no-movement clause, but he could be open to waiving it to join a contender. The Penguins also have a logjam of right-shot defensemen after acquiring Matt Dumba from the Dallas Stars earlier this month.
The Vegas Golden Knights topped Sachdeva’s list, followed by the Carolina Hurricanes, Tampa Bay Lightning, Toronto Maple Leafs, and Ottawa Senators.
SPECTOR’S NOTE: All five teams have been previously mentioned as trade destinations for Karlsson if he agrees to waive his NMC. Whether any of them are interested remains to be seen.
Any deal involving Karlsson could mean the Penguins retain part of his annual salary-cap hit to facilitate a trade. Penguins general manager Kyle Dubas could be keen to get as much of Karlsson’s cap hit off his books, but he won’t just give him away. He’ll want a return that also helps with the rebuilding of his roster.
THE ATHLETIC: Josh Yohe believes trading a forward like Bryan Rust or Rickard Rakell will sting for the Penguins, but it’s the right move for this rebuilding club to make.
Yohe commends Dubas for not rushing into trading either player, especially when the offers weren’t that great. However, he thinks both forwards could command a first-round pick or a top prospect. Moving them would also clear considerable cap space for the next three seasons.
SPECTOR’S NOTE: A lot of clubs remain flush with cap space this summer. Some of them could use experienced top-six wingers like Rust and Rakell.
Nevertheless, they might still be with the Penguins when their season opens in October. Interested parties could also remain patient, assessing their early-season roster needs before pulling the trigger.
They could also prefer waiting to see how well the 33-year-old Rust and 32-year-old Rakell perform this season. Any decline in their play could scare off potential suitors, especially considering they’re each averaging at least $5 million annually through 2027-28.
Speaking of Rust, David Staples of the Edmonton Journal recently reported on some speculation tying him to the Oilers. However, they lack the cap space to take on his contract even if the Penguins retained half of his $5.125 million AAV.
PITTSBURGH HOCKEY NOW: Dan Kingerski recently looked at a couple of trade targets for the Penguins.
The first is winger Yegor Chinakhov, who has requested a trade from the Columbus Blue Jackets. Kingerski suggested the 24-year-old could be a reclamation project akin to their acquisition of Philip Tomasino last season from the Nashville Predators.
Kingerski also suggested acquiring the contract of permanently sidelined goaltender Carey Price from the Montreal Canadiens. The Penguins have the cap space to take on his full $10.5 million cap hit, while only paying $2.5 million actual salary once his $5 million bonus is paid on September 1.
The Canadiens would like to move Price off their books, enabling them to accrue cap space this season. Kingerski suggests the Habs might be willing to include a second-round pick in the deal, if not more.
SPECTOR’S NOTE: This season is the final one for Price’s contract.




