Three-way trade concept is floated as Penguins weigh another attempt on Stars winger Jason Robertson

The Pittsburgh Penguins’ ongoing interest in Dallas Stars winger Jason Robertson has not faded, but the math behind a possible deal is drawing more attention as the offseason approaches its most trade-active stretch. Rather than assuming a simple one-for-one swap, hockey observers are increasingly focused on whether a three-team structure could make the pieces fit, especially if Dallas holds out on maximizing the return. The premise is straightforward: a straight deal may be difficult for Pittsburgh, at least relative to other bidders, if the Stars’ preferred package requires more premium assets than the Penguins have readily available. The discussion centers on the idea that another team entering the negotiations could absorb part of the cost, either by taking on salary, delivering additional prospects or picks, or redirecting value in a way that still satisfies Dallas’ preferred trade terms. In a recent breakdown published by The Hockey News, the question is framed around the Penguins’ asset constraints heading into the 2026 NHL Draft and what that means for a trade that would land a player of Robertson’s impact. The same report points to prior remarks from Penguins leadership that Pittsburgh did not have some of the draft capital teams were seeking, specifically referencing the lack of a top-10 pick. With that constraint removed or altered for the near term, the argument becomes whether Pittsburgh’s bargaining position could still be strong enough to close the gap for Dallas. The framework also reflects a broader reality about superstar trades in the NHL. Dallas has reportedly shown preference for keeping Robertson, so a trade does not appear to be automatic even if rumors swirl. In this context, the price is not only about talent. It is about leverage, timing, and whether Pittsburgh can meaningfully alter the Stars’ incentives. Additional reporting discussed in The Hockey News piece cited The Athletic’s Josh Yohe, describing Robertson talks as something the Penguins “still absolutely” want, while also noting that Dallas was holding up proceedings because the Stars would rather keep Robertson. Yohe’s reporting also suggested that Robertson’s contract expectations were a factor that could make a trade more likely. That combination matters because it points to a moving target: if Pittsburgh’s offer is close but not compelling enough under Dallas’ valuation, Dallas can wait, and waiting can force the bidder to raise the offer. There has also been talk, in the rumor ecosystem around Robertson, of other destinations being considered and then quickly cooling off. The Hockey News report notes that ideas involving teams such as the Ottawa Senators, Seattle Kraken, and St. Louis Blues were shut down soon, yet the Pittsburgh rumor persisted without a similar quick rebuke. While that does not confirm negotiations are still active, it helps explain why the multi-team question keeps resurfacing, particularly if a single-team package continues to fall short. The uncertainty is the point. No team has publicly confirmed that a Robertson trade is imminent, and the entire discussion remains tied to valuation and deal architecture rather than any official transaction. For Pittsburgh, the practical challenge is that Robertson represents both a talent upgrade and a salary-and-assets calculation, and if his market value forces a larger bidding war, the Penguins may need partners to keep the cost from fully landing on their roster-building plan.

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