What should the Pittsburgh Penguins do with Kris Letang?

May 19, 2013; Ottawa, ON, CAN; Pittsburgh Penguins defenseman Kris Letang (58) controls the puck in the second period in game three of the second round of the 2013 Stanley Cup playoffs against the Ottawa Senators at Scotiabank Place. Mandatory Credit: Marc DesRosiers-USA TODAY Sports

Now that the Pittsburgh Penguins have signed Evgeni Malkin, their attention turns to star defensemen Kris Letang and what they should do with him.

He has one year left on his current contract but he is reportedly asking for too much money to extend him. He’s asking for $7 million a year, which is way too much for a Penguins team that already has almost $20 million per year going to Malkin and Sidney Crosby for the next nine seasons.

Pittsburgh can do a couple of things with Letang. They can try to trade him to a team such as Colorado for a top player like Gabriel Landeskog, but it’s highly unlikely they will do that. They could also trade him at the draft which is where a lot of big trades are happening these days. That’s when the Penguins traded Jordan Staal last June after failing to sign him to a long-term extension.

The Penguins could also sign him to maybe a three- of four-year extension instead of the five or six years he’s looking for. They would have to give him less money than he is actually worth on the market. I think the two sides will eventually come to a understanding and give Letang less money than what he’s asking for now.

All in all, these are the two likely scenarios for Letang. This will probably be a slow proccess for the Penguins and Letang. We will see what happens.