Former Sharks Defender Returns To NHL Trade Market
Pittsburgh Penguins defenseman Erik Karlsson (65) takes a shot on goal during the third period against the San Jose Sharks at SAP Center at San Jose. Mandatory Credit: David Gonzales-Imagn ImagesFormer San Jose Sharks defenseman Erik Karlsson is back on the trade market for the Pittsburgh Penguins.
Per The Athletic, Pittsburgh is open to trading the three-time Norris Trophy winner, and GM Kyle Dubas would reportedly move the defenseman "in a heartbeat."
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Karlsson's contract is once again a significant hurdle. In 2019, the Swedish defenseman signed an eight-year $92 million contract with the Sharks.
Karlsson signed this contract while the Sharks had Doug Wilson as their GM. Since moving on from Wilson, the new GM, Mike Grier, has gone through a complete rebuild and moved many big contracts out of the organization.
Brent Burns and Erik Karlsson were the first big-name moves San Jose made. Karlsson garnered a solid return from the Penguins, including Mikael Granlund, who revitalized his career in San Jose, and a first-round draft pick that turned into top defense prospect Sam Dickinson.
The most significant part of the original deal to the Penguins was Grier only retaining $1.5 million AAV on the San Jose Sharks salary cap. The Penguins have been paying Karlsson a $10 million AAV and want to move on from that contract.
Karlsson completely controls his situation, like when the Sharks traded the d-man. His contract includes a full no-movement clause, so Karlsson can shut it down even if the Penguins found a trade partner.
"Though the San Jose Sharks are paying $1.5 million of his salary cap hit for the next two seasons after this one, Karlsson is still scheduled to count $10 million against the Penguins' cap through the 2026-27 season," Josh Yohe writes. "The Penguins have one salary retention slot remaining until July 1, so they have the power to retain some of Karlsson's salary. That seems necessary to make a deal."
So if Karlsson gets traded again, the Sharks' $1.5 million AAV retainment won't go anywhere, but the massive deal that Karlsson signed in San Jose is causing issues again.
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