The frenzy is about to begin, but will largely proceed without the Pittsburgh Penguins. The biggest names are already off the market as the Vegas Golden Knights executed the sign and trade for Mitch Marner, the Florida Panthers signed Brad Marchand to a controversial six-year contract that will carry him to 43 years old, and in late-night deals, the Detroit Red Wings locked down Patrik Kane. At the same time, the Columbus Blue Jackets settled on re-signing Ivan Provorov.

The Penguins said goodbye to all of their RFAs who were interested in a contract. Philip Tomasino, Connor Dewar, and P.O Joseph are free agents, and general manager Kyle Dubas offered little hope that any would re-sign.

Read More: More Dubas: ‘Market is Nuts,’ When to Expect Trades; Malkin Timeline

This is the last year before the Penguins’ great roster turnover. According to PuckPedia.com, the Penguins currently have $19,616,904 in free cap space with a full roster, including 12 forwards, seven defensemen, and two goalies.

Add Ville Koivunen to the mix, and the Penguins have $18,811,071.

Since Dubas is setting up for a rebuild, next year’s cap and roster situation is also relevant. Next year, the Penguins have only five forwards under contract, four defensemen, and one goalie at a cost of about $50 million. Amongst those signed and still on their entry-level deals are Rutger McGroarty and Owen Pickering.

And just for fun, trigger warning: Jack Johnson’s buyout ends after 2025-26.

The Penguins have about $54 million in salary cap space when the cap goes up to $104 million in 2026-27. Only four players are under contract for 2027-28: Kris Letang, Ryan Graves, Bryan Rust, and Rickard Rakell.

2025-26 Penguins Roster

Sidney Crosby is still the anchor with Evgeni Malkin possibly on a farewell tour, though neither side wants to have that conversation yet. Young winger will highlight the lineup beside the old lions for an interesting mix. However, Dubas has little incentive to add more forwards unless the player fits the future.

Of course, at any moment, another GM could pick up the phone and greatly change the situation by paying the price for Rakell or Rust. And Dubas will probably look for a more cohesive third line with internal and external options.

Rickard Rakell-Sidney Crosby-Ville Koivunen

Rutger McGroarty-Evgeni Malkin-Bryan Rust

Kevin Hayes-Tommy Novak-?

Joona Koppanen-Blake Lizotte-Danton Heinen

Boko Imama

Defense

Owen Pickering-Kris Letang

Ryan Graves-Erik Karlsson

Ryan Shea-Connor Clifton

Vladislav Kolyachonok

Goalie

Tristan Jarry

Alex Nedeljkovic

Prospects to Make the Lineup

Tristan Broz was ready for a call-up at the end of last season, but Dubas said he didn’t want to put Broz in the situation of a team playing out the last string of games and then rush back for the AHL playoffs. He figures to make a strong case for an NHL sweater in the fall.

Filip Hallander is back with the organization after a breakout season in the Swedish Elite League. His breakout season was as a left wing, not center, so he could easily replace Joona Koppanen or Kevin Hayes on our lines above.

Potential Positional Targets

Once the lines are laid out, there seems to be a space for Tristan Broz on the third line, perhaps moving Novak to the wing. However, with any young player, Dubas again asserted Monday that any young player will have to grab the spot, and none will be given merely a spot because of their prospect status.

Left Defense:

Dubas would do well to add another left defenseman unless he’s willing to saddle new head coach Dan Muse with Graves, and to a lesser extent Kolyachonok, as regulars. Jack St. Ivany and Harrison Brunicke will battle for space on the right side in training camp and could have a greater opportunity if a Karlsson trade finally manifests.

Right Wing:

The team could use a couple of right wings, both on the third and fourth lines, as well as insurance for the top six. Heinen is a nice depth player, but does little to help the cause. Imama knows his role, and it isn’t to play 82 games.

RFAs with Potential:

Any player who could help the team win in the future. Look for Dubas to troll the depths as he’s done to acquire out-of-favor players like Novak and Kolyachonok. Left-wing/center Jacob Pelletier, who was squeezed out in Philadelphia, is a name to watch. Left defenseman Zac Jones was not qualified by the New York Rangers, either.