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Evgeni Malkin Contract Details: Why Win-Win Deal Works for Penguins Star, GM Kyle Dubas originally appeared on SportsNet Pittsburgh. Add SportsNet Pittsburgh as a Preferred Source by clicking here.
It's official: Evgeni Malkin is staying in Pittsburgh.
On Tuesday, the Penguins announced that they had re-signed the three-time Stanley Cup champion to a one-year, $5.5 million contract extension. Malkin will return for his 21st NHL season, proving that, despite roster turnover and looming transition years, Pittsburgh remains committed to its legendary core.
Though questions swirled about Malkin's future after the two sides failed to reach an agreement during the 2025-26 season, general manager Kyle Dubas ultimately found a sweet spot, delivering a deal that respects a franchise icon's legacy without crippling the team's future flexibility.
Overall, this contract represents a massive victory for both the player and front office.
Evgeni Malkin contract details
- Years: 1
- Value: $5.5 million
Malkin's new deal deal runs through the 2026-27 campaign and carries an average annual value of $5.5 million. The Athletic's Pierre LeBrun reported that Malkin will earn $2.5 million from his base salary and $3 million from his signing bonus.
The contract also includes a no-movement clause and incentives, according to The Athletic's Chris Johnston. Malkin can earn $500,000 in games played bonuses, $1 million if the Penguins clinch a playoff berth and $500,000 for each playoff round won. He can max out at a total of $9 million on his current deal, per LeBrun.
Why Evgeni Malkin's new contract is a win-win deal
During the 2025-26 campaign, Malkin proved that he can still produce for a winning team, finishing with 61 points (19 goals, 42 assists) in 56 games. After the Penguins enjoyed a resurgent season in which they finished second in the Metropolitan Division with 98 points, they decided to roll with the longest-tenured trio in North American sports (Malkin, Sidney Crosby and Kris Letang) for at least one more year.
Malkin has consistently said that he doesn't want to leave Pittsburgh, and while he did not get any guarantees beyond next season, he is still a key member of the only franchise that he has ever known. It's unclear if Malkin has anything else left in the tank — his health remains a concern — but he showed in the playoffs that he can still make an impact.
The true winner of the deal, though, is Dubas, who was able to retain Malkin on a team-friendly deal. Malkin will turn 40 on July 31, meaning a long-term commitment would have been a massive gamble. Dubas mitigated the risk of regression or injury, avoiding a messy cap situation if Malkin can't stay on the ice or match his previous level of production.
The Penguins rank fifth in the NHL with more than $37 million in estimated cap space, per Spotrac, so they can still add talent to the roster. After answering the big Malkin question, Dubas can aggressively target high-impact free agents and give Pittsburgh an injection of speed, defensive reliability and secondary scoring.
Throughout the regular season, Dubas repeatedly insisted that he would do what's best for the organization. So far, it's safe to say that he has delivered on that promise.
Evgeni Malkin stats
Malkin re-established himself as a point-per-game threat in his age-39 season, helping guide the Penguins back into the postseason.
| 2025-26 | GP | G | A | PTS | +/- | PIM | TOI/GP |
| Regular season | 56 | 19 | 42 | 61 | +13 | 61 | 17:36 |
| Playoffs | 6 | 2 | 1 | 3 | 0 | 6 | 17:56 |
Malkin's longevity and peak dominance place him among the greatest players in NHL history. He should enter the top 20 on the league's all-time points list next season.
- Games played: 1,269
- Goals: 533
- Assists: 874
- Total points: 1,407
- Plus/Minus: +41
- Game-winning goals: 89
- Career points per game: 1.11
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