Mark Madden: With Kris Letang re-signed in win-now move, Penguins might as well keep Evgeni Malkin, too

Within the context of the Penguins’ desire to win now, GM Ron Hextall couldn’t have done better with Kris Letang’s new contract.

The dollar figure of $36.6 million is shockingly low. Letang unquestionably would have commanded more in free agency. I overestimated his mercenary streak.

But Letang never has been on a bad team. Montreal would probably have been his most ready suitor. The Canadiens are rotten. The pressure to be a hometown, French-Canadian hero would have piled on. Better the devil you know.

In a vacuum, the length of six years is too long.

But the contract’s purpose isn’t to embrace whatever majesty Letang still displays at 40. (The Penguins will hit a wall Wile E. Coyote-style before then.)

It’s to make the most of Letang right now, at 35, and to maintain salary cap space by diluting Letang’s cap hit via term. (Letang’s cap figure was expected to be $8 million or more.)

The Penguins can fiddle with the cap via long-term injured reserve shenanigans if Letang doesn’t play all six years. The pact allows limited tradability in its last two years.

The Penguins currently have $15.3 million in cap space. They could open more up via trade. (Note to John Marino: You just got more likely to be sent packing.) Hextall could be a bit of a force when free agency hits July 13.

The Penguins could re-up Evgeni Malkin, too.

Malkin reportedly has been offered two years with an average annual value of $6 million. If it takes adding more years, do it. Just like with Letang.

The reluctance to go long-term with Malkin is understandable. He and Letang aren’t the same animal.

Letang is a better bet to be well-conditioned and performing at a high level in the sixth season of his new deal than Malkin is in, say, three years.

Both are risk vs. reward-type players. But Letang has adjusted his game. Malkin won’t.

Letang takes fewer unnecessary chances. Malkin doesn’t.

Letang makes less mistakes. Malkin doesn’t.

Letang has reduced his bad penalties. Malkin hasn’t.

But despite being a liability in some ways, Malkin is still a point-per-game player and a force on the power play.

Malkin is also one-third of an accomplished Penguins core that has been romanticized to the point that the organization and many fans believe it can still make a playoff run despite losing four straight first-round playoff series, each with its own set of depressing sidebars.

That being the team’s belief, however mistaken, the Penguins should keep Malkin.

But old players don’t get better. Old teams don’t win Stanley Cups.

But at least we finally see a plan with Hextall and new owners Fenway Sports Group. Win now. (Sounds a lot like the plan of the prior GM and previous ownership.)

It pleases the fans. It pleases Sidney Crosby.

But will the Penguins win a playoff series in 2023, let alone more than one?

Hextall needs to make trades. He must sign legit contributors. The Penguins need a shake-up.

Age isn’t the primary enemy of the Penguins. Staleness is.

Letang could not have been replaced. (His cap hit is less than John Klingberg’s will be. Klingberg, most recently of Dallas, will be the top defenseman available in free agency.)

With Letang and Crosby, the Penguins are an almost sure bet to make the playoffs for a 17th consecutive season.

Letang plays 25-plus minutes per game, excels in all three zones, just posted career highs in points and assists, scored 10 goals, was plus-20, played 78 games and showed no signs of slowing down.

The Penguins were wise to keep Letang.

How much can be accomplished as a team remains to be seen.