According to the Pittsburgh Tribune-Review, Letang could stay with the Penguins for a very long time if he accepts a deal worth around $6 million per season, but star blueline is believed to be looking for $7 million, annually, on a new deal.
Letang wants to stay with the club well beyond next season, but if stands firm on his asking price, Penguins GM Ray Shero will likely trade him, the Tribune-Review claims.
In 35 games with the Penguins this past season, the Montreal native registered five goals and 33 assists for 38 points, including a plus-16 rating.
The two-time All-Star also wants a no-movement clause, while the paper suggests the Penguins are only willing to give him a limited one.
Contract discussions only started on Wednesday morning between the Penguins and Letang's agent, Kent Hughes, though he cannot officially sign a new deal until July 5. Evgeni Malkin already agreed to terms on a new deal, and will make it official July 5.
The Tribune-Review indicates Shero will begin fielding trade calls for Letang this month, if he hasn't already done so.
However, the Penguins do not necessarily have to trade Letang this summer and could take their chances during the season.
Alternatively, they could sign Letang to an extension, perhaps at a middle point in terms of annual salary, and move other players to accommodate his new deal.
The Penguins had tried to move defenseman Paul Martin last summer and at parts of this season, but his $5 million salary and cap hit kept other teams away.
Meanwhile, the Penguins have started contract talks with Pascal Dupuis' agent, Allan Walsh.
Dupuis, 34, is scheduled to become an unrestricted free agent next month.