|Overall||Player Chosen||By||From||Player Removed|
From Protected List
|1||Dale Lewis||New York Rangers||Los Angeles Kings||Hartland Monahan||cash|
|2||Hartland Monahan||Washington Capitals||New York Rangers||Tom Williams||cash|
The rules were the same as before: protected lists of 18 skaters and a pair of goaltenders, $40,000 draft price. The Penguins weren't permitted to take part due to their bankruptcy; there was a very real possibility that the Penguins would fold.
The Penguins were rescued from bankruptcy by businessmen Al Savill and Otto Frenzel, and former Minnesota North Stars GM Wren Blair. The Penguins would live to see another day. The same could not be said of the intra-league draft. Mid-way through the '75-'76 season the end for the intra-league draft had come: there would be no draft in 1976. June 17, 1975 would go down as the day the last intra-league draft was held by the NHL. Hartland Monahan was the last player ever taken in an NHL intra-league draft.