TRADE ALERT: Penguins receiving strong trade interest in surprising veteran

During the trade deadline, the primary focus typically revolves around the rental market, where contending teams seek that final missing piece but prefer short-term acquisitions due to budget constraints preventing them from retaining the player beyond the current season. Nevertheless, some non-rental players also garner interest during this period. One such player seems to be in Pittsburgh, as per Frank Seravalli of Daily Faceoff, who reveals that the Penguins are surprisingly fielding numerous inquiries about winger Reilly Smith, even more than Jake Guentzel, a top rental player likely available up until March 8.

Pittsburgh acquired the 32-year-old last summer in a transaction that essentially served as a salary-cap clearance by Vegas. Smith, a key contributor to their Stanley Cup campaign, was exchanged for just a third-round pick. Despite Smith achieving the 50-point milestone in four out of his six seasons with the Golden Knights, the return seemed modest. However, in a flat-cap economic climate, several teams faced difficult decisions similar to that.

Penguins General Manager Kyle Dubas had high hopes for Smith to be a significant contributor on both ends of the ice, but this expectation has not quite materialized. Instead, his offensive production has dipped, registering only 10 goals and 15 assists in 51 games, falling short of expectations considering his $5 million price tag. Despite this, Smith continues to log over 16 minutes of ice time per game and contributes on the penalty kill. Many teams could benefit from having a player with Smith’s skill set.

Managing Smith’s contract for this season proves challenging, especially with half of the league currently utilizing LTIR to maintain cap compliance. The fact that Smith has another year remaining on his contract beyond this one adds intrigue but also complicates potential trade scenarios.

Seravalli suggests that retaining a portion of Smith’s salary could broaden his market appeal. The Penguins have two of their three salary retention slots available, with the one they have used (Jeff Petry) extending through next season. If Dubas is open to using a second slot until 2024-25, reducing Smith’s contract to a $2.5 million AAV could enhance his market value and likely result in a better return than what was initially given up to acquire him. Although not the intended direction, it appears that Smith could facilitate acquiring a valuable asset for a potential rebuild or retooling phase in the upcoming offseason.