Latest NHL Rumors Update Evgeni Malkin, Penguins Contract Extension Buzz Amid Olympic Break

The Pittsburgh Penguins and veteran forward Evgeni Malkin are expected to discuss a new contract before the Olympic break ends next week, The Fourth Period's David Pagnotta reported Thursday.

Malkin, 39, is playing in the final season of a four-year, $6.1 million AAV contract that has him set to hit unrestricted free agency this summer.

Pagnotta noted that extension talks between Malkin and the Penguins had not taken place as of Thursday morning.

The report comes the day after Malkin declined to speak to reporters when the Penguins resumed practice Wednesday, per The Athletic's Josh Yohe.

"Wait until next week," Malkin told reporters Wednesday, per Yohe.

Yohe reported in January that Malkin is willing to sign a one-year deal and take a pay cut on his next contract in order to play in Pittsburgh.

"He doesn't have interest in playing for any other franchise," Yohe wrote. "He realizes this could be his final season but doesn't really want to retire yet."

Signing Malkin for another season would match his term to the rest of the Penguins' longtime core. Sidney Crosby and Kris Letang, who have skated alongside Malkin for 20 straight seasons, are both signed through the 2026-27 campaign.

Malkin, selected behind Alex Ovechkin in the 2004 draft, has spent most of his Penguins career either skating as the team's second-line center or anchoring the top line if Crosby was injured.

This season he's shifted to the wing, where he was skating alongside second-line center Tommy Novak prior to the break.

That change has helped put Malkin on track for his first point-per-game season since 2022-23. He had 44 points (13 goals, 31 assists) in 41 games so far this season.

Malkin was also sidelined for a month with a shoulder injury in December, and he'll turn 40 ahead of the 2026-27 season.

Despite his age and recent injury history, however, his positional flexibility and reported willingness to sign a one-year deal worth under $6 million could make him a good fit for a franchise with plenty of cap space and roster room.

The Penguins are currently projected to have almost $53 million in space under next season's cap, the second-highest total in the NHL behind the San Jose Sharks, per PuckPedia.

Pittsburgh could also have empty spots on the roster considering that forwards Anthony Mantha, Kevin Hayes, Connor Dewar and Noel Acciari are also set to hit unrestricted free agency this summer. The Penguins' recent postseason push could mean at least some of those players will be playing out their contracts in Pittsburgh rather than getting flipped at the deadline.

If the Penguins do end up agreeing to a new deal with Malkin, he could join Crosby and Letang as the first trio in the history of North American professional sports to play 21 seasons together.

The NHL regular season resumes next Wednesday. The Penguins are back in action Thursday with a home game against the New Jersey Devils.

What the Pens lineup looks like next Thursday will hinge on the injury status of Crosby, who is currently considered day-to-day after suffering a lower-body injury during Canada's overtime win against Czechia in Wednesday's Olympic quarterfinals.