Rickard Rakell and the Penguins have reportedly agreed on a multi-year contract extension ahead of the opening of free agency on Wednesday.
UPDATE: The finalized deal will be for six years, and with a cap hit of $5.0 million per season.
Hearing this will come in at 6 years with a $5M AAV https://t.co/EUZA1eRco5— Elliotte Friedman (@FriedgeHNIC) July 12, 2022
According to Frank Seravalli, Rakell and the Penguins have landed on a 5-year deal in the “neighborhood” of $5 million per year.
Hearing Rickard Rakell and #pens have agreed to terms on an extension in the neighborhood of 5 years x $5 million.— Frank Seravalli (@frank_seravalli) July 12, 2022
That takes another talented winger off the market.
Rakell, who was acquired in a trade with the Ducks in March, registered 13 points in 19 games during the regular season.
As it stands, prior to this deal being signed, the Penguins are projected to have approximately $15 million in cap space available.
That $15 million in space, after accounting for Rakell’s extension, would sit around $10 million.
The Penguins have not yet come to an agreement with Evgeni Malkin, who is said to be testing the free agent market on Wednesday.
BREAKING: Evgeni Malkin has reportedly decided to test the open market when free agency opens on Wednesday. https://t.co/k1orWNDuyl— PensBurgh (@Pensburgh) July 11, 2022
Reports indicate that offers to Malkin’s camp have made in the ballpark of $6 million per year.
Restricted free agent Kasperi Kapanen received a qualifying offer from the team earlier this evening as well.
Rakell, who is currently 29 years old will be 35 when the six-year extension is complete.