Traded to Jets with the rights to Jan Ingman by Montreal for Brian Hayward, August 19, 1986.
The Jets acquired goaltender Steve Penney from the Montreal Canadiens in the summer of 1986 and he spent two seasons in the Jets' organization, where he was unable to duplicate the success he had in Montreal. He burst into prominence during the 1984 playoffs and established himself as the starting goaltender the following season, but his performance tailed off in 1985-1986 and he was subsequently dealt to the Jets. He retired following the 1987-1988 season.