Penguins

Report: Malkin Could Sign Contract Extension

PITTSBURGH (KDKA) ― He was one of the heroes of the Penguins playoff run, but since the season ended, there has been speculation that Evgeni Malkin might prove to be too expensive for the Pens to keep much longer.

Tonight, there's new information on a possible contract extension.

Malkin reportedly told the Tribune-Review's Rob Rossi that he expects to sign a new contract with the Penguins just after July 1.

"He's looking at about a five or six year extension. He doesn't need to make as much as Crosby. Crosby's annual cap hit is $8.7 million. Malkin would be willing to take slightly less than that," Rossi said. "That would be good news for the Penguins because they'd get arguably two of the best young players in the world under contract for well-under what they could be making at market value."

If the talks would progress that way, it would be a bit surprising after weeks of speculation. Most around the league expected it was going to take more than Sidney Crosby's $8.7 million per year for the Pens to make a deal with Malkin.

"I don't think it was ever a matter of him needing to be paid more than Sidney Crosby. I think he wants to be paid based on what he feels his fair market value is," Rossi said. "The truth is Sidney Crosby set a standard for Penguin players to take a little bit less than market value to play in Pittsburgh and I think Malkin appreciates that he has to sort of follow that. Malkin's a guy who wants to have some security financially, but he wants to know that the Penguins are going to keep this team together. This would be a large step in that direction so it's a win-win for both parties."

It would also be the product of an often overlooked part of the NHL's salary cap system.

"The NHL players are fortunate in that they guaranteed contracts so if Evgeni Malkin hypothetically signs a five-year deal worth $42 million with the Penguins, that $42 million is guaranteed to come to him. You're an athlete - you always look at the possibility of injury or the unforseen cutting short your earning potential," Rossi said. "This would be a situation where Malkin would fairly know where he's going to play and what he's going to earn."

The Pens took a step to clear up their goaltending situation by filing for salary arbitration with Marc-Andre Fleury.

He was scheduled to become a restricted free agent July 1, but that won't happen with today's move. At the very least, he'll be back on a one-year contract if the Pens can't sign him long-term before his arbitration hearing in late July or early August.

We've asked the Penguins to speak with General Manager Ray Shero, but they say he's not commenting on either Fleury or Malkin's situation.

Read more on the Pittsburgh Sports Insider Blog.

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