The NHL rumor mill is churning as teams navigate the offseason, with several key storylines emerging from Pittsburgh, Edmonton, and Toronto.

Penguins' Potential Trades

The Pittsburgh Penguins are reportedly in rebuild mode, and General Manager Kyle Dubas is expected to make significant moves before training camp. Insider Josh Yohe of The Athletic anticipates "a big trade or two" is likely as Dubas is committed to reshaping the roster. Several veteran players are rumored to be on the trading block, including defenseman Erik Karlsson and forwards Bryan Rust and Rickard Rakell.

Karlsson's situation is particularly interesting. While the Penguins are willing to retain part of his cap hit to facilitate a trade, his market value is "complicated". Karlsson himself reportedly prefers to join a Stanley Cup contender, which limits potential destinations. Teams like the Dallas Stars, Detroit Red Wings, and Carolina Hurricanes have been mentioned as possibilities. However, it's questionable how much of an upgrade Karlsson would be for some of these teams, considering his $7.5 million cap hit.

Dubas is said to be reluctant to give away Rust and Rakell "for peanuts," but Yohe believes it would be surprising if both players are still with the team on opening night. The Penguins may even be willing to tank in order to improve their draft position and have a shot at drafting projected first overall pick Gavin McKenna.

Oilers' Contract Negotiations

The Edmonton Oilers are focused on securing key contracts ahead of the 2025-26 season. There is speculation that the Oilers are preparing an eight-year contract offer for defenseman Jake Walman. Bob Stauffer, host of Oilers Now, has added to the speculation, suggesting it's a real possibility.

Only the Oilers can offer Walman an eight-year extension before he hits free agency, giving them an advantage. If they were to sign him to an eight-year, $50 million deal ($6.25 million AAV), it would provide long-term cost certainty and potentially avoid paying a higher price in free agency. While Connor McDavid's future is also a key topic, there are no firm updates. Edmonton has approximately $45 million in cap space for the 2026-27 season, with a significant portion likely earmarked for McDavid's next contract. General Manager Stan Bowman indicated that preliminary talks have occurred with agents for pending unrestricted free agents, and he expects discussions to intensify over the next six weeks. Other Oilers players entering the final year of their contracts include Mattias Ekholm and their goaltending tandem.

There is also the possibility of the Oilers making a surprising mid-season trade involving one of their top young assets. Goaltender Stuart Skinner, despite his team-friendly $2.6 million cap hit, could be moved if the Oilers pursue a proven upgrade in net. Forwards Matthew Savoie and Vasily Podkolzin could also be traded, especially if they struggle to secure top-six roles.

Robertson's New Deal with Maple Leafs

The Toronto Maple Leafs have avoided arbitration with winger Nicholas Robertson, signing him to a one-year, $1.825 million contract. Robertson was the last remaining arbitration case to be settled this summer.

Robertson's camp reportedly sought $2.25 million, while the Maple Leafs filed at $1.2 million. The resulting agreement gives Robertson a significant raise from the $875,000 he earned last season.

Despite the new contract, questions remain about Robertson's future in Toronto. He requested a trade last summer due to limited playing time, and it's unclear if that request has been rescinded. Although he appeared in a career-high 69 games last season, his usage remained limited. With Mitch Marner's departure, Robertson may have an opportunity to earn a more prominent role in the top-six or top-nine. However, if he doesn't receive that opportunity, a trade could still be a possibility.