5 Longest Contracts in Penguins History After Koivunen’s Stunning Deal – The Hockey Writers – Pittsburgh Penguins

Ville Koivunen has played only 47 NHL games, but his new contract already puts him in remarkable company in Pittsburgh Penguins history.

Pittsburgh signed Koivunen to an eight-year, $32 million contract on Aug. 6, keeping the 23-year-old forward under team control through the 2033-34 season. The deal carries a $4 million average annual value and comes after Koivunen recorded only two goals and 14 points through his first 47 NHL appearances. He was considerably more productive with Wilkes-Barre/Scranton last season, recording 13 goals and 41 points in 34 games.

The term is what makes the decision historically unusual. The longest Penguins contracts have generally been reserved for established franchise cornerstones, including Sidney Crosby, Evgeni Malkin, Kris Letang and Marc-André Fleury. Koivunen now joins that group before establishing himself as a full-time NHL player, adding another layer to the questions Pittsburgh already faced about his development.

Here are the five longest contracts Pittsburgh has handed out. The three eight-year contracts are separated by total value for ranking purposes.

1. Sidney Crosby: 12 Years, $104.4 Million

No Penguins contract comes close to the term Pittsburgh gave Sidney Crosby.

The Penguins agreed to a 12-year, $104.4 million extension with Crosby in 2012. The contract began with the 2013-14 season, carried an $8.7 million cap hit and kept him signed through 2024-25. Crosby was only 24 when the agreement was reached, but Pittsburgh was hardly betting on an unknown player.

Crosby had already won a Stanley Cup, Hart Trophy, Art Ross Trophy and Maurice “Rocket” Richard Trophy. He had also established himself as Pittsburgh’s captain and the centerpiece of the franchise, making an extraordinarily long commitment much easier to justify.

The contract aged about as well as Pittsburgh could have hoped. Crosby won another Hart Trophy in 2013-14, captured consecutive Conn Smythe Trophies while leading the Penguins to Stanley Cups in 2016 and 2017 and remained an elite scorer through the final season of the agreement.

Pittsburgh received so much value from the deal that Crosby signed another contract carrying the same $8.7 million cap hit after it expired. The 12-year commitment contained obvious risk when it was signed, especially after Crosby’s concussion problems, but the Penguins were committing long-term to a player who had already demonstrated generational ability.

2. Evgeni Malkin: 8 Years, $76 Million

Evgeni Malkin received the richest of Pittsburgh’s three eight-year contracts when he signed for $76 million in June 2013.

The extension carried a $9.5 million cap hit and ran from 2014-15 through 2021-22. Malkin was 26 when he signed it, and his accomplishments already included a Stanley Cup, Conn Smythe Trophy, Hart Trophy, Ted Lindsay Award and two Art Ross Trophies.

There was little mystery about what Pittsburgh was purchasing. Malkin had already produced three 100-point seasons and established himself as one of the NHL’s most dominant offensive players. The long term was primarily about keeping an established superstar beside Crosby through his prime.

The contract also covered two more championship seasons. Malkin recorded 18 points in 23 playoff games during the 2016 Stanley Cup run before leading Pittsburgh with 28 points in 25 postseason games when the Penguins repeated in 2017.

Injuries prevented him from playing complete seasons throughout the contract, but his offensive impact never disappeared. Pittsburgh received eight more years of a franchise center and ultimately extended its relationship with Malkin beyond the agreement.

3. Kris Letang: 8 Years, $58 Million

Kris Letang joined Malkin in signing an eight-year extension during the summer of 2013.

Pittsburgh committed $58 million to Letang, giving him a $7.25 million cap hit from 2014-15 through 2021-22. The defenseman had just completed a season in which he tied for the NHL lead among defensemen with 38 points in 35 games and finished as a finalist for the Norris Trophy.

Letang was not as decorated as Crosby or Malkin when Pittsburgh made the commitment, but he had already become the organization’s clear No. 1 defenseman. He was 26, had played 385 regular-season games and had been part of a Stanley Cup championship team.

The contract experienced significant challenges. Letang dealt with major injuries, including a stroke and neck surgery that forced him to miss Pittsburgh’s entire 2017 postseason run. He still remained one of the league’s most productive defensemen throughout most of the agreement and played a massive role in the 2016 championship.

His performance eventually convinced Pittsburgh to sign him again. Letang received a six-year contract in 2022 after the eight-year agreement expired, extending a relationship that has lasted his entire NHL career.

Letang represented some projection when the original contract was signed because the Penguins were expecting him to spend his prime as one of the NHL’s best offensive defensemen. He had still provided years of evidence at the NHL level before Pittsburgh accepted that risk.

4. Ville Koivunen: 8 Years, $32 Million

Koivunen now owns the least expensive eight-year contract on the list, but he may represent the largest projection.

The Penguins are committing $32 million to a player who produced seven points in 39 NHL games last season. Koivunen dominated in the American Hockey League (AHL) with 41 points in 34 games, and Pittsburgh clearly believes that production can eventually translate into a larger NHL role.

President of hockey operations and general manager Kyle Dubas has framed the agreement as a bet on what Koivunen will produce moving forward. That philosophy separates this contract from the ones Pittsburgh previously gave Crosby, Malkin and Letang, all of whom had already become stars before receiving eight years or more.

The financial environment also changes the level of risk. The NHL salary cap has risen to $104 million for 2026-27, making Koivunen’s $4 million cap hit considerably easier to absorb than the percentage of the cap Pittsburgh devoted to its previous stars. The ceiling is already scheduled to continue rising in future seasons.

That creates the upside Dubas is chasing. If Koivunen develops into a legitimate top-six or strong middle-six winger, $4 million could become an excellent price while Pittsburgh controls his age-23 through age-30 seasons.

There is still no guarantee that development happens. Koivunen has not demonstrated that he can consistently create offense against NHL defenders, which was one of the concerns when examining Pittsburgh’s biggest roster battles entering camp.

That uncertainty is precisely what makes his place on this list so unusual. The Penguins historically used massive term to retain stars. Dubas is using it to try to create future value before Koivunen becomes one.

5. Marc-André Fleury: 7 Years, $35 Million

Marc-André Fleury received his seven-year contract at the same age Koivunen is now, but his NHL résumé was already significantly larger.

Pittsburgh signed Fleury to a seven-year, $35 million agreement in July 2008 after he helped the Penguins reach the Stanley Cup Final. Fleury was 23 and coming off a postseason in which he posted a .933 save percentage as Pittsburgh came within two victories of winning the championship.

Pittsburgh was building around a young core of Crosby, Malkin and Letang, and the 2003 first overall pick was expected to provide long-term stability in net.

The agreement produced immediate validation. Fleury helped the Penguins win the Stanley Cup during the first season of the contract, making the deciding save against Nicklas Lidstrom in Game 7 of the 2009 Stanley Cup Final.

His postseason performance became less consistent later in the agreement, and Pittsburgh eventually faced difficult questions about its goaltending. Fleury still remained the team’s primary starter throughout the seven seasons and finished the contract as one of the most successful goaltenders in franchise history.

Koivunen’s Deal Is Different From Every Contract Ahead of It

The names surrounding Koivunen demonstrate why his contract received so much attention.

Crosby was already a generational superstar. Malkin had won nearly every major individual award available to an NHL forward. Letang was a Norris Trophy finalist and established No. 1 defenseman. Fleury had just helped Pittsburgh reach the Stanley Cup Final as its starting goaltender.

Koivunen has two NHL goals.

That does not automatically make his contract a mistake. The $4 million cap hit is much smaller relative to the modern salary cap, and Pittsburgh could receive enormous surplus value if Koivunen becomes the player Dubas believes he can be. His age also means the agreement covers his prime rather than paying him through his mid-to-late 30s.

The historical comparison still reveals how unconventional the decision is. Pittsburgh previously handed out its longest contracts after players established themselves as major pieces of the franchise. Koivunen received eight years because the Penguins believe he is going to become one.

Crosby, Malkin, Letang and Fleury earned their places among the longest Penguins contracts through what they had already accomplished. Koivunen has joined them because of what Pittsburgh thinks comes next, and the next several seasons will determine whether Dubas identified another long-term cornerstone before everyone else or simply made one of the boldest contract bets in franchise history.