March has been a busy month for the Pittsburgh Penguins when it’s come to signing prospects.

Things kicked off March 3 when the Penguins signed 20-year-old defenseman Finn Harding, chosen by the club in the seventh round (No. 223 overall) of the 2024 NHL Draft, to a three-year entry-level contract worth $855,000 annually.

Harding currently plays for the Brampton Steelheads of the Ontario Hockey League (OHL).

Next came defenseman Chase Pietila on March 9.

Pietila, another 2024 selection by the Penguins (fourth round, No. 111 overall), inked a two-year entry-level deal worth $860,000 annually following two years at Michigan Tech.

The following day, the Penguins announced Daniel Laatsch, a 23-year-old forward drafted in 2021 (seventh round, No. 215 overall), had signed an entry-level contract for two years at an average annual value of $860,000.

He turned professional after four seasons at Wisconsin.

Finally, 22-year-old forward Avery Hayes signed with the Penguins on March 13 ($830,000 AAV) for two years through 2026-27.

Of the bunch, Hayes was the only undrafted prospect to earn a contract with the team.

Through 46 games with Wilkes-Barre/Scranton of the American Hockey League, Hayes has 18 goals and 18 assists.

For the Penguins and the rest of the NHL, varying time frames exist for them to sign draft picks.

The primary factor in determining how many years a club holds the signing rights to their selections is which ranks the prospect comes from: the NCAA, international or junior leagues.

Currently, the Penguins have two prospects whose signing rights they will lose this summer.

Chase Yoder

Age: 22

Position: Forward

History: Sixth-round (No. 170 overall) draft pick by the Penguins in 2020

Rights expiration: Aug. 15, 2025

Explanation: Yoder has played five collegiate seasons at Providence, totaling 32 goals with 30 assists in 171 career games. NHL clubs hold the signing rights of NCAA draftees until Aug. 15 following their graduation year.

If they leave school early, a club retains their signing rights until June 1 four years following their draft.

In Yoder’s case, his rights expiration clock was delayed a year, as he took advantage of an extra season of collegiate eligibility at Providence because of the covid-19 pandemic.

Per Puck Pedia, the NHL’s collective bargaining agreement stipulates that Yoder’s age (he turns 23 on May 28), makes him eligible to sign a two-year entry-level contract with the Penguins, should the club offer one (18- to 21-year-olds sign entry-level deals for three years).

As a soon-to-be 23-year-old, Yoder is ineligible to re-enter the NHL Draft were he to go unsigned by the Penguins by mid-August. Instead, if the Penguins do not trade his signing rights, he’ll become a free agent.

Cooper Foster

Age: 19

Position: Forward

History: Sixth-round (No. 174) draft pick by the Penguins in 2023

Rights expiration: June 1, 2025

Explanation: NHL clubs hold the drafting rights of players coming from North American major junior leagues for two years. Thus, the Penguins have until June 1 of this year, two years to the day of selecting Foster, a member of the OHL’s Ottawa 67’s, to ink an entry-level deal.

Foster to date has skated in 188 games for Ottawa, scoring 57 goals with 83 assists.

Foster turns 20 on June 4, making him eligible to re-enter the 2025 NHL Draft should the Penguins pass on signing him.

European players

The vast majority of European countries, such as Sweden and Finland, have transfer agreements with the NHL. For such international prospects who are drafted, NHL clubs retain their signing rights for four years.

A notable exception to that is Russia, which has no such transfer agreement with the NHL, meaning that teams hold indefinite signing rights for Russians selected in the NHL Draft.

Two relevant examples can be found within the Penguins’ corps of prospects: 22-year-old forward Kirill Tankov, a 2021 (seventh round, No. 218 overall) pick who plays for Avangard Omsk of the KHL, and 20-year-old forward Mikhail Ilyin, chosen in the fifth round (No. 142 overall) of the 2023 NHL Draft. Ilyin skates for the Severstal Cherepovets of the KHL. The Penguins are under no time squeeze to sign either player.

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