Former San Jose Sharks defenseman Erik Karlsson's name is circulating around the trade block as we go further into the off-season.

After he was acquired by the Pittsburgh Penguins back in 2023, the fit just wasn't there. He joined a veteran lineup and just couldn't manage to find a permanent spot. Now, just two years later, it looks like he will be playing for another team.

Karlsson, 35, had 11 goals and 42 assists for 53 points in 82 games. With the Sharks, he played in 293 games over five years and had 342 points, including a 101-point season in 2022-23.

Now, with the trade speculation swirling, Karlsson may need to adjust his expectations when it comes to another team. Yes, he is still highly skilled but he shouldn't expect to be the number one defender on just about any of the 31 other NHL teams.

He may have to accept that he is a three-four on a team's blue line, which could be doable if he can land with a playoff-contending team, like the handful that are rumoured to be interested in him.

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According to The Athletic, back on June 26, there were eight teams that would be potential trade destinations for Karlsson. The two intriguing teams listed were the Detroit Red Wings and the Florida Panthers.

With the Panthers more specifically, there is a fit there for Karlsson who would likely waive to have a chance to win the Stanley Cup. However, his $10 million cap hit makes it incredibly hard for them to take him on.

As Elliotte Friedman pointed out in the final episode of the 2024-25 season on his 32 Thoughts the podcast, Karlsson's bonuses are paid, which makes his actual cash earnings significantly lower. That could catch the attention of a few teams around the NHL.

In order for the Penguins to move Karlsson, they would need to be willing to eat a portion of his cap hit, upwards to the maximum of 50 percent. It could be worth doing for Pittsburgh, especially considering that he only has two years left on his deal and they are entering a full-fledged rebuild.

Karlsson still has a ton of value, especially with the retention of his salary. Pittsburgh could get a decent trade package in return to help their future if they can find a way to move him over this summer.

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