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Big Penguins Week Ahead; Sources on Sale, Complications, & a Trade?
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- Big Penguins Week Ahead; Sources on Sale, Complications, & a Trade?
Big Penguins Week Ahead; Sources on Sale, Complications, & a Trade?
It has been more than two weeks since multiple reports confirmed that the Hoffman Family of Companies, or more specifically, David Hoffman , emerged as potential buyers for the Pittsburgh Penguins .
The sides have gone silent over the last two weeks, while multiple sources told Pittsburgh Hockey Now, "this feels real," or words very similar .
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Over the past week, PHN has continued to hear that employees at all levels of the organization are bracing for the sale. Some of the language used in communications last week could be described as expectant.
However, people familiar with the City of Pittsburgh's deals through the Sports and Exhibition Authority with the Penguins organization regarding land development around PPG Paints Arena have discussed with us potential complications, including upcoming October deadlines to break ground on several parcels of land.
It's an extraordinarily complicated issue that PHN is working through, and deadlines have indeed been ignored in the past without little more than a finger wag. In their refusal to speak with PHN, one external source confirmed that upcoming deadlines were more than political class chatter.
Another source with direct knowledge of the situation indicated FSG had been in communication with the city regarding development and deadlines.
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Real estate is a complicating factor requiring more due diligence to complete a sale, though the Hoffmans are real estate developers in the Chicago area.
A $1.75 billion deal is bound to have a few complications. Pittsburgh Hockey Now is working to complete a story if the sale doesn't happen first.
2. Carey Price
What will the Montreal Canadiens pay a team to take on the final year of Carey Price's contract? Price carries a $10.5 million cap hit and will spend the season on long-term injured reserve.
Montreal owed Price $7.5 million this season, but paid his $5.5 million signing bonus Monday, meaning he is owed just $2 million for the remainder of the contract.
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Montreal is currently over the salary cap by about $6 million, but will comfortably be under the cap after putting Price on LTIR. However, removing Price's salary via trade would provide more cap flexibility and fewer complicating factors as Montreal ramps up to make the playoffs this season.
A team under the cap accrues salary cap space through the season. A team under the cap because of LTIR does not accrue space.
So, what is it worth for Montreal to make the trade?
The Penguins are one of the few teams in the NHL for whom salary cap space this season is not essential to growth.
The Penguins have over $13 million in salary cap space and could absorb Price's full contract without a holdback.
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For comparison, the Penguins received a second-round pick from Dallas for taking on Matt Dumba's $3.5 million salary, which carries a $3.75 million cap hit.
Last season, the Penguins earned a third-round pick for taking on Cody Glass 's $2.5 million salary.
Price's salary would figure to command a third-round pick, but the exorbitant cap hit will inflate the price.
Is a second-round pick enough to accept that hit? Or will a team command more? The Penguins initially accepted a second-round pick to accept Kevin Hayes's $3.5 million cap hit . Eventually, they received a future second-rounder and current third-rounder when the St. Louis Blues needed to reacquire the second-rounder.
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Will multiple picks be the cost? Montreal has a pair of second-round picks.
All numbers are according to PuckPedia.com .
3. Real Penguins Trades?
On his podcast, The Sheet, national analyst Jeff Marek discussed the Detroit Red Wings and his feeling that general manager Steve Yzerman was not done–could not be done–tweaking his roster.
It is a big season for Detroit to get over the hump, and every bit of conjecture and speculation regarding Detroit's needs points to the Penguins.
Top four right-side defenseman? The Penguins have got one.
A top six winger? The Penguins have two readily available, for the right price.
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Is this the week?
The post Big Penguins Week Ahead; Sources on Sale, Complications, & a Trade? appeared first on Pittsburgh Hockey Now .
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