Penguins Lock Up Koivunen on Eight-Year, $32 Million Deal

The Pittsburgh Penguins signed forward Ville Koivunen to an eight-year, $32 million contract on Thursday, Aug. 6, a long-term commitment to a player who has yet to secure a permanent NHL roster spot.

The deal carries a $4 million annual cap hit and runs through the 2033-34 season. Koivunen, 23, has appeared in just 47 NHL games in his career, recording two goals and 12 assists for 14 points, all with Pittsburgh, making the term and value of the contract an unusual bet on potential.

The length of the deal may also make it a rarity. Under the new collective bargaining agreement that takes effect Sept. 16, contracts are capped at seven years, so Koivunen's contract may be one of the last eight-year deals signed in the NHL.

General manager Kyle Dubas addressed the decision in an email to local outlets, including Pittsburgh Hockey Now, citing the evolution of the market as the primary factor. "We view the contract as a bet, on Ville, his potential, and our belief that he is going to do the work to reach that potential," Dubas wrote.

"The way that older forwards who have lower lineup ceilings were paid as free agents and watching the way the restricted free agent market took shape led us to take a different view on how we wanted to handle our own players, for sure," he said.

Pittsburgh's deal follows a summer in which Philadelphia tendered Anaheim's Leo Carlsson a five-year offer sheet at $18 million annually, which the Ducks matched.

Koivunen spent time in Wilkes-Barre last season and impressed the organization with his work ethic. Instead of spending the summer at home in Oulu, Finland, he worked with the team to set up a training program in Helsinki and told the club he would return to Pittsburgh in mid-August to continue his development.

Dubas made clear the contract does not guarantee Koivunen anything. "Well, he will still have to earn everything," Dubas wrote. "As we have shown over the last few years, a long-term contract does not mean you are given anything in Pittsburgh."

Koivunen was originally drafted by Carolina in the second round, 51st overall, in 2021. Pittsburgh acquired him from the Hurricanes on March 7, 2024, in the six-player trade that sent Jake Guentzel to Carolina.