Pittsburgh Penguins sign Kris Letang to six-year extension with $6.1 million cap hit

The Pittsburgh Penguins announced Thursday afternoon that they signed defenseman Kris Letang to a six-year contract extension with a $6.1 million cap hit.

“Kris epitomizes what it means to be a Pittsburgh Penguin,” said Penguins GM Ron Hextall in a statement. “The role he plays on our team is irreplaceable, he is a leader in our locker room, and has made countless contributions to the organization over the last 15-plus years, which includes three Stanley Cup Championships. We are thrilled to make him a Penguin for life.”

Letang was in the final year of an eight-year contract with the Penguins, with a $7.25 million cap hit. His new contract is a decrease in salary and term, but helps work around the current team’s build, especially if the team also has intentions to bring back Evgeni Malkin. Letang will be 41 years old when the contract expires.

Letang had a career year in 2021-22 despite being 35, with 10 goals and 58 assists for 68 points in 78 games, the assist and point totals being a career high. He finished 7th in voting for the Norris Trophy as a result, getting 18 fourth place votes and 19 fifth place votes.

Letang is as strong as ever as a puck-mover and power play quarterback, but has seen a bit of a decline in his defensive game. He can still drive play overall, with a 51.97% shot attempt share and 51.84% expected goal share at even strength, but his defensive game holds those numbers back. This is better illustrated with his goals above replacement last season, with a 7.7 offensive GAR, but a -2.2 defensive GAR.

After this extension, the Penguins still find themselves with over $15 million in cap space. They still have plenty of free agents to sign, the most notable of them being Evgeni Malkin, as well as trade deadline addition Rickard Rakell, 2021-22 breakout Evan Rodrigues, and restricted free agents Kasperi Kapanen and Danton Heinen.