The Penguins and the Russian star agreed to a four-year contract late Tuesday night worth $6.1 million annually. The deal was signed just hours before the three-time Stanley Cup-winning center will become a free agent for the first time in his career. Instead, the 35-year-old Malkin will remain alongside longtime teammates Sidney Crosby and Kris Letang. The Penguins signed Letang to a six-year contract last week, but progress on a new deal with Malkin appeared to have stalled until Monday, when a person with knowledge of Malkin’s thought process told The Associated Press that Malkin intended to try the open market. What looked to be a potentially bitter divorce with the start of free agency looming on Wednesday instead turned into an 11th-hour deal. The 2012 Hart Trophy winner and two-time league scoring champion will remain with the team that took him with the second overall pick in the 2004 draft. “Evgeni is a generational talent who will be remembered as one of the greatest players in NHL history,” said Penguins general manager Ron Hexall. “His hockey resume and individual accomplishments speak volumes for him as a player, and we are excited to watch him continue his remarkable legacy in Pittsburgh.” Pittsburgh’s core of Malkin, Letang and Crosby will remain together until at least 2025, when Crosby’s deal expires. Crosby made it clear he wanted the Penguins to find a way to keep both of his longtime partners, with Hextall allowing that “in a perfect world” the club would find a way to make it work. At the last minute, the planets apparently aligned. The Penguins believe Malkin is returning to form as he enters his 30s. Malkin missed half of last season while recovering from knee surgery. He scored 20 goals with 22 assists in 41 games and added three more goals and three assists in Pittsburgh’s first-round playoff series loss to the New York Rangers. Malkin has played more than 70 games in a season just once since being named MVP in 2012. However, when he is involved, he remains a potent scorer, particularly on the power play. The wildly popular Malkin has long thrived alongside Crosby. He is in the top five in most major statistical categories in franchise history, including games (981), goals (444), assists (702) and points (1,146). The deal follows several signings by the Penguins, who have reached the playoffs 16 straight seasons but haven’t gotten past the first round since 2018. In addition to bringing Letang back to a six-year deal, Pittsburgh signed forwards Bryan Rust and Rickard Rakell to long-term extensions. Malkin’s signing means the Penguins won’t have much money to spend on the open market as they try to keep the Stanley Cup window open with their aging core. Malkin’s return shows that Hextall and president of hockey operations Brian Burke believe there is enough left in Malkin’s tank to keep the Penguins in the mix in the Metropolitan Division.
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