Penguins waive Graves with 4 years left at $4.5M cap hit

The Pittsburgh Penguins placed defenseman Ryan Graves on waivers for assignment to the AHL, the team announced Saturday.

Graves has four years left on his contract at a $4.5-million cap hit. He inked a six-year, $27-million deal with the Penguins as a free agent in July 2023.

The 30-year-old struggled significantly last season. He managed just four points in 61 games and finished a minus-15, and he averaged less than 15 minutes for the first time since his rookie season in 2018-19.

Graves broke out with the Colorado Avalanche in 2019-20 when he tallied 26 points in 69 games and led the NHL with a plus-40 rating. He's accumulated 32 goals and 118 points in 433 games with the Avalanche, New Jersey Devils, and Penguins across seven seasons.

The Penguins will have $11 million of cap space if Graves clears and is sent to the minors, according to PuckPedia.