Teams are reportedly looking into what an Erik Karlsson trade would look like. It would likely be very difficult to move him.
Erik Karlsson first surfaced in the rumor mill last November when San Jose Sharks GM Mike Grier indicated his willingness to at least listen to trade offers for him. That buzz largely died away until Tuesday, when TSN's Pierre LeBrun reported teams were calling Grier about the 32-year-old defenseman.
LeBrun said interested clubs were looking into what a trade for Karlsson might look like. He felt such a move would take place in the off-season, if at all, given the blueliner's full no-movement.
The interest in Karlsson is understandable because of his impressive performance this season. With 56 points in 43 games, he's among this season's top-10 scorers. Karlsson also has an opportunity to become the first defenseman since Brian Leetch in 1991-92 to enjoy a 100-point campaign.
Every NHL club would love to have a defenseman of Karlsson's caliber. His contract, however, is a significant sticking point.
We've previously examined the difficulty of trading Karlsson, including his willingness to consent to a move and the limited number of potential destinations. Even if a suitable trade partner could be found, making the dollars work would be complicated.
Karlsson carries a hefty $11.5-million salary cap hit through 2026-27. Cap Friendly indicates only three teams (Arizona Coyotes, Buffalo Sabres and Anaheim Ducks) carry enough cap space and tradeable assets to acquire him. However, he's unlikely to accept a trade to one of those rebuilding teams.
The Sharks would likely have to retain half of his cap hit if Karlsson wants to join a playoff contender. Doing so for a year or two is one thing, but carrying over $5 million in dead cap space annually for four years could be unpalatable unless they get an irresistible return.