NHL Trade Grades: Penguins Get Samuel Girard for Brett Kulak

With the Winter Olympics over, the NHL season is back from hibernation.

The trade freeze was officially lifted on Sunday night, and two days later, we have our first big move.

The Penguins and Avalanche are swapping defensemen.

The Penguins already have offensive defensemen. What does it indicate that they're adding another in Sam Girard? The Avalanche are attaching a pick to add a depth rental. Are there bigger implications to this trade than meets the eye?

Let's take a look at how both teams grade out.

Colorado Avalanche

Richard A. Whittaker/Icon Sportswire via Getty Images

At face value, this is a strange move for the Avalanche.

No doubt, Girard was a bit of a luxury in Colorado. Cale Makar, Devon Toews, and Brent Burns are more than enough to handle the offensive minutes on a team with Stanley Cup aspirations.

Girard was underutilized as a third-pairing defenseman, and it showed in his performance this season; just 12 points in 40 games. He's not built to handle a defensive load, so he just doesn't fit the picture. His sub-18 minutes this season are the lowest of his career since he was a 19-year-old rookie in 2017-18.

Kulak fits head coach Jared Bednar's needs more. He's a true minute-eating defenseman who can take on defensive zone starts, bring a game to a stalemate after the Avalanche take an early lead (as is typical), and thrive in a PK role.

Still, to move a top-four defenseman still in his prime and attach a second-round pick for a depth rental? Either Colorado made a blunder, or something is missing from the equation.

Part of the ambition probably lies in what this move will allow the Avs to do subsequently. Girard's $5 million cap hit this season and next was a burden for a Colorado team that is counting pennies. Kulak's $2.75 million hit opens up some space.

Colorado is now projected to have roughly $10 million in cap space at the trade deadline. The possibilities are nearly endless here, even after activating Logan O'Connor from injured reserve.

A reunion with Nazem Kadri? That's suddenly in play. Could they enter the mix for Vincent Trocheck or Brayden Schenn? The best team in the NHL now has the financial flexibility to add an impact player and turn a relative weakness (third-line center) into a strength.

For a team that has already sunk most of its assets into previous trades, it is rough to lose Girard and a second-round pick. We'll have to wait to see if the ends justify the means.

Grade: B-

Pittsburgh Penguins

Derek Cain/Getty Images

Penguins GM Kyle Dubas continues his efforts to turn a paperclip into a house.

The Pens acquired Kulak as part of a package in December, with Tristan Jarry heading to Edmonton. After 25 games in Pittsburgh, the Penguins are swapping Kulak to the Avs for Sam Girard.

As explained, Girard was an excess in Colorado. His fit in Pittsburgh isn't exactly perfect, either. Kris Letang and Erik Karlsson will maintain their roles as the go-to offensive defensemen. Girard should at least find top-four minutes on a Penguins team that doesn't have as much depth, but it is still a somewhat awkward landing spot.

Here's the deal: Girard is a 27-year-old signed through next season, when it's possible one or both of the aging Letang and Karlsson could be gone. More importantly, though, Dubas is determined to leverage value first and figure out the puzzle later.

A player of Girard's caliber should carry significant value. He was previously reliable for 35-38 points per season, even when not playing the best offensive minutes.

Kulak's trade value is roughly a second-round pick, so the Penguins are basically adding a top-four defenseman with a reasonable contract for free. He could replace elder defensemen in the group long-term, or the Penguins could simply rebuild Girard's value with better usage and then flip him again at some point in the next 12 months.

Plus, this trade allows the Penguins to move Kulak out as an expiring asset while still bringing in a player who will help the team continue to solidify its unexpected playoff positioning.

In the course of a few months, the Penguins have effectively turned Tristan Jarry, Samuel Poulin, and a third-round pick into Sam Girard, Egor Chinakhov, Stuart Skinner, and a second-round pick.

Grade: A