Trade: Penguins and Rangers strike deal on Day 1 of free agency.

The Pittsburgh Penguins and New York Rangers have orchestrated a trade deal on the opening day of free agency.

Shayna Goldman of The Athletic was the first to report the full details of the trade, a deal involving a single player in the form of now former Penguins forward Reilly Smith. According to Goldman, the Penguins have dealt Smith to the New York Rangers in exchange for both a second round draft selection as well as a fifth round draft selection.

Update: The Penguins have now officially confirmed the trade, with the second round pick coming in 2027 and the fifth round pick coming in 2025.

Smith played just one season for the Penguins, appearing in 76 regular season games while scoring 13 goals and adding 27 assists for a total of 40 points in the regular season.

Smith was signed to a 3 year deal by Vegas Golden Knights general manager Kelly McCrimmon in the summer of 2022, but he has already been traded twice since signing that deal. Smith will enter the final year of that deal next season, and will carry a cap hit of $5 million next season for the Rangers.