Jake Guentzel turns down massive offer from the Penguins.

Pittsburgh Penguins fans who were hoping to hear some good news on the Jake Guentzel front were left sorely disappointed last week when former National Hockey League player Nick Kypreos shared a concerning update regarding the ongoing negotiations between Guentzel and his team.

Kypreos, who was appearing on his show on Sportsnet 590 The Fan radio, revealed that the Penguins have tabled a significant offer for Guentzel but also revealed that the contract currently remains unsigned.

"My understanding is that there might have been something offered to him in the ballpark of $50 million, $8.5million x 6, and as of now he's not signed let's just put it that way," revealed Kypreos on Friday.

That, simply put, indicates that Guentzel is not happy with the offer that has been tabled by the Penguins and NHL insider Frank Seravalli believes that Guentzel could fetch much more on the open market.

"That offer sounds short on term and short on dollars," admitted Seravalli. "You want max as much as you can get because this is your big boy contract, this is the big one that he's gonna earn for his career.

Seravalli also revealed his belief that the Penguins would prefer to trade Guentzel rather than re-sign him to a long term deal.

"I'd have to think, if you were to inject some truth serum into Kyle Dubas, that he would tell you that he needs to cash in on a big deal for Jake Guentzel."

Seravalli believes that the possibility of the Penguins retaining Guentzel for a playoff run still exists, but expressed serious doubts about him remaining a Penguin long term.

"Why would you sign him to a big number, at the age of 30, to what? Be the best player on a 32nd place team for a period of 5 years?" asked Seravalli.