Grading the Sharks Trade of Erik Karlsson

The San Jose Sharks dealt Erik Karlsson to the Pittsburgh Penguins, and GM Mike Grier did a fantastic job.

The San Jose Sharks sent Erik Karlsson to the Pittsburgh Penguins in a blockbuster deal Sunday morning.

GM Mike Grier and the San Jose Sharks get a B+ for the trade of Erik Karlsson. 

The best part for the Sharks in the deal is how much of EK65's contract was retained. 13% of Karlsson's $11.5 million annual cap hit will be on the Sharks' cap breakdown for the remaining four seasons of the contract. 13% is $1.5 million annually.

San Jose also received forwards Mikael Granlund, Mike Hoffman, and defenseman Jan Rutta. 

At last season's trade deadline, Granlund was traded to the Penguins from the Nashville Predators. The 31-year-old forward becomes the Sharks' third highest-paid forward with an AAV of $5 million over the next two seasons. 

He has been productive in the past, scoring 64 points for Nashville in the 21-22 season. However, once he was traded to the Penguins, Granlund scored one goal and four assists in 21 games.

Hoffman is finally a San Jose Shark. The winger was traded to the Sharks in the 2018 offseason but, within an hour, was flipped to the Florida Panthers. The 33-year-old is known for his shooting ability and will be a UFA at season's end. His cap hit is $4.5 million. 

Rutta is a veteran defenseman who has made his rounds throughout the league. Rutta won the Stanley Cup twice, both times with the Tampa Bay Lightning. Rutta was often the defense partner of Victor Hedman. His cap hit is $2.75 million for the next two seasons. 

The 2024 first-round pick the San Jose Sharks received from Pittsburgh is top-ten protected and will slide to the 2025 draft if the Penguins have a top-ten selection in the 2024 draft. 

Grier did a great job getting $10 million of Erik Karlsson's cap hit off the Sharks' books, but the return of veterans and one first-round pick is okay at best. Based on the return, it seems like Grier opted to take a slightly lesser return for more cap flexibility in the next four seasons.

In any blockbuster deal, the team acquiring the best player involved will initially "win" the trade. The Penguins got Erik Karlsson, who is the best player by far in this trade.

Karlsson just had the best offensive season by a defenseman in NHL history since Brian Leetch scored 102 points for the New York Rangers in 1991-92.

Kyle Dubas retained top prospects like Owen Pickering, Samuel Poulin, and Pierre-Oliver Joseph, which is a big win. 

This feels like one last kick at the can for the Pens, as their core of Sidney Crosby, Evgeni Malkin, and Kris Letang are over 35 years old. The acquisition of Karlsson doesn't help the average age, as EK65 is 33 years old.

Dubas was able to shed big salary, Granlund and Jeff Petry (traded to Montreal Canadiens) without giving up the farm for Karlsson. He allows the Penguins to have at least a few young players potentially make the lineup.

Overall this trade is a win for both sides. The San Jose Sharks get cap flexibility and another first-round pick, while the Penguins get a superstar defenseman to help with another potential cup run.