Smith, 32, was one of six original Vegas players left from the team’s inaugural season that included a trip to the final. He was the first player captain Mark Stone handed the Cup after the Golden Knights won it earlier this month.
Smith played at Miami University from 2009-12 and ranks ninth all-time with 66 goals. He totaled 122 points to rank among the top 30 all-time for the RedHawks. He was a first-team, All-American and Hobey Baker Award finalist in 2012.
The deal is the first big roster splash for new Penguins president of hockey operations Kyle Dubas, who is tasked with getting the team back into the playoffs and continuing to contend with Sidney Crosby, Evgeni Malkin and Kris Letang still around.
Smith counts $5 million against the salary cap each of the next two seasons. Trading him could clear space for Vegas to bring back goaltender Adin Hill and pave the way for an extension for playoff MVP Jonathan Marchessault, who has just a year left on his contract.
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