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Pittsburgh Penguins Acquire Erik Karlsson In Three-Team Deal

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The Erik Karlsson trade saga is finally over. The Pittsburgh Penguins have acquired the 2023 Norris Trophy winner from the San Jose Sharks, according to Daily Faceoff’s Frank Seravalli. Sportsnet’s Elliotte Friedman reports the Montreal Canadiens are involved in the trade to aid in salary considerations. Pittsburgh later officially announced the massive deal, which includes 12 parts and breaks down as follows:

PIT receives: D Erik Karlsson, F Rem Pitlick, F Dillion Hamaliuk, 2026 third-round pick (SJS)
SJS receives: 2024 first-round pick (PIT, top-ten protected), F Mikael Granlund, D Jan Rutta, F Mike Hoffman
MTL receives: 2025 second-round pick (PIT), D Jeff Petry, G Casey DeSmith, F Nathan Legare

San Jose is retaining $1.5MM of Karlsson’s $11.5MM cap hit through 2026-27. Montreal is retaining no salary on Karlsson in this trade, meaning the Penguins have Karlsson at a massive $10MM cap hit for four more seasons. Pittsburgh also retains $1.5625MM, or 25%, of Petry’s cap hit. Montreal will have him at a cap hit of $4.6875MM through 2025.

Sportsnet’s Eric Engels also believes Montreal is not Petry’s final destination. The Canadiens are likely to flip their former number-one defenseman before next season starts, potentially retaining up to 50 percent on his already reduced cap hit, making him cost just $2.34MM against the cap for his new team.

Pittsburgh has a net cap hit loss of $3.1MM in this trade, per CapFriendly. By doing so, they’ll likely be able to activate Jake Guentzel and his $6MM cap hit from LTIR when he’s ready to return to the ice in November without making any corresponding moves. CapFriendly projected Pittsburgh with $2.75MM in cap space, with Guentzel on LTIR to start the season.

Karlsson, 33, ended an up-and-down five-year stint with the Sharks on a high note. Despite playing on a bottom-five team in the league, Karlsson’s 101 points in 82 games were the most from a defenseman in a single season since Brian Leetch in 1991-92. Once viewed as the best defenseman in the NHL during his time with the Ottawa Senators in the mid-2010s, the Sharks acquired him in a blockbuster deal in 2018 and later extended him on a massive eight-year, $92MM contract, giving him the highest cap hit in the league among defensemen.

However, it was a decision that failed to pan out the way San Jose envisioned, as Karlsson struggled with injuries during most of his time in California. To make matters worse, the team around him also crumbled as the Sharks fell out of yearly playoff contention for the first time this millennium.

Pittsburgh hopes Karlsson’s turnaround last season has given him renewed confidence heading into the latter half of his contract – assuming his recent injury history doesn’t come back to bite him. 2022-23 was the first time Karlsson had played in 70-plus games since 2017-18, his last season with the Senators.

Many will be concerned with Karlsson’s defensive misgivings, but some slightly reduced ice time in Pittsburgh should lessen his negative impact on the team’s goals-against total. Likely to slot in on the team’s second pairing behind Kris Letang, Karlsson should be paired with either Marcus Pettersson or free-agent acquisition Ryan Graves on the left side, both players with strong defensive reputations. Advanced metrics peg Pettersson near the top of the league in terms of his individual even strength defensive impact.

Pitlick could be an under-the-radar add for Pittsburgh in this deal from Montreal. While he’s far from being a long-term fixture, he is on the younger side (in Pittsburgh, at least) at 26 years old and will add some higher-upside depth scoring to a Penguins lineup that needs it, especially with Guentzel on the shelf to start the year. In 2021-22, Pitlick notched 15 goals, 22 assists and 37 points in 66 games split between the Canadiens and Minnesota Wild. He’s struggled to develop an all-around game at the NHL level, though, and he’s more of a finishing and playmaking specialist than anything else. His overall play-driving impacts are poor, and it led to Montreal stashing him in the minors for a fair bit of last season. There, he registered 22 points in 18 games with the AHL’s Laval Rocket.

Hamaliuk, 22, once had a fair bit of upside – after all, San Jose thought he warranted a second-round selection in the 2019 NHL Draft. Injuries and middling performance since turning pro have wiped out nearly all of his stock, though. He played in just six games last season, all in the ECHL with the Wichita Thunder, although he did look good in limited action with seven points. The Penguins will likely watch him closely in the minors with the AHL’s Wilkes-Barre/Scranton Penguins next season to see if he can recapture some of his former potential.

For the Sharks, trading Karlsson while only retaining $1.5MM is a solid bit of work for general manager Mike Grier. However, the return is rather underwhelming – a likely mid-first-round pick and a trio of depth NHL assets that won’t amount to much value for a rebuilding team. They’ve essentially taken on two bad contracts and a depth defender to rid themselves of long-term financial pain, as despite his elite skill, Karlsson absolutely did not factor into the franchise’s long-term plans post-rebuild.

The trade does provide a fresh start for Granlund, a former top-six fixture who struggled mightily after heading to the Penguins from the Nashville Predators at last year’s trade deadline (just five points in 21 games). He is just one campaign removed from a 64-point season, however, and although his possession metrics are quite poor, he does still carry a fair amount of raw skill that could see him once again elevate into a top-six role on a weak Sharks team, potentially playing alongside Alexander Barabanov and Logan Couture. With two seasons left at a $5MM cap hit, the Sharks could look to flip him at the 2024 trade deadline if he has a strong season, likely with significant salary retention. However, as CapFriendly notes, San Jose has just one of their three salary retention slots remaining for the next two seasons after also retaining salary on Brent Burns when they traded him to the Carolina Hurricanes last summer. In total, the Sharks are left with $7.745MM in dead cap space this year after the two salary retentions, plus the buyouts of goalie Martin Jones and forward Rudolfs Balcers.

Rutta is under contract at $2.75MM for two more seasons, and he’ll likely give the Sharks a fair amount of value. The two-time Stanley Cup champion with the Tampa Bay Lightning could very well step into a top-four role for the Sharks, who will likely roll three pairings by committee this season in the absence of a clear number-one defender. Rutta recorded nine points in 56 games for the Penguins last season, his only season in the Steel City while averaging 17:07 of ice time per game. Pittsburgh signed the 33-year-old to a three-year, $8.25MM contract in free agency last summer.

Clearing Hoffman’s $4.5MM cap hit for this season off the books is a solid bit of business for the Canadiens, who were rumored to be considering waiving Hoffman ahead of next season and assigning him to the AHL’s Laval Rocket. There’s no guarantee he’ll be able to escape the same fate with San Jose, however. The Sharks will undoubtedly prioritize roster spots for younger wingers like William Eklund, Filip Zadina and Fabian Zetterlund, leaving Hoffman without a clear place among the Sharks’ top 12 forwards. Now 33, Hoffman did manage 14 goals and 34 points in 67 games for Montreal last year, but he ranks among the worst play-driving forwards in the league and is solely a power-play specialist at this stage in his career. Some will remember this is technically Hoffman’s second stint as a member of the Sharks organization – San Jose acquired him from Ottawa for a few hours in 2018 before flipping him to the Florida Panthers.

Now, moving on to Montreal, who became an unexpected major player in this deal. Petry may not remain with his former team, as mentioned earlier, and DeSmith may not either. He’s a puzzling addition for a team that already has Sam Montembeault and Jake Allen manning the crease, although Pittsburgh did need to move out a goalie after signing Alex Nedeljkovic in free agency, giving them three NHL goalies on their roster. However, Montreal now faces the same predicament, and DeSmith is unlikely to supersede Allen or Montembeault on the team’s depth chart. If they don’t flip him to another team looking for a backup netminder, DeSmith could be waived to start the season and end up with Laval. He started a career-high 33 games for Pittsburgh last season, and the 31-year-old recorded a 15-16-4 record, .905 save percentage, and no shutouts.

Legare is a depth addition who will suit up for Laval next season. The 22-year-old third-round pick of the Penguins in 2019 is still finding his footing in the minors. Last season, he posted eight goals, 11 assists and 19 points in 68 games with AHL Wilkes-Barre/Scranton.

Photo courtesy of USA Today Sports Images.

Bob Murdoch Passes Away

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Longtime former NHL player and coach Bob Murdoch has passed away at the age of 76 after a four-year battle with Lewy Body Dementia, Parkinsonism, and Alzheimer’s, the NHL Alumni Association said today. Murdoch spent the first three seasons of his career with the Montreal Canadiens from 1970 to 1973 before he was traded to the Los Angeles Kings, where he would play until 1979. He was traded again to the Atlanta Flames, the franchise with which he would finish out his NHL career, retiring in 1982 after staying with the team during their move to Calgary.

Murdoch then spent a decade in the NHL as a coach with the Flames, Chicago Blackhawks, Winnipeg Jets, and San Jose Sharks. His stints with Chicago and Winnipeg were in head coaching roles, and he won a Jack Adams award in his first season with the Jets in 1989-90 after the team made a 21-point jump in the standings from the prior season.

Undrafted, Murdoch made his way to Montreal at 24 after playing for the Canadian national team and in the minors for the Montreal Voyageurs of AHL. While his role with the team was limited in the first two of his three seasons there, he did suit up in the postseason for Montreal’s Stanley Cup victories in 1971 and 1973. After a breakout year in 1972-73, recording 24 points in 69 games, he garnered a first-round pick on the trade market and was shipped to the Kings.

Murdoch had the best years of his career in California, consistently posting double-digit point totals and playing a strong brand of physical, two-way hockey. In 1974-75, he recorded career highs across the board with 13 goals, 29 assists, 42 points, a +39 rating, and 116 penalty minutes in 80 games. He earned year-end All-Star team consideration that year.

After retiring and then leaving the NHL coaching circle in 1993, Murdoch headed overseas, where he coached in Germany. He lasted just half a season with Mad Dogs München in 1994-95 but immediately found a new job in the DEL with Kölner Haie, where he stayed until 1997. He followed that up with a three-year stint behind the bench of the Nürnberg Ice Tigers from 1999 to 2002. Most recently, he served as a scout for the WHL’s Tri-City Americans from 2013 to 2015.

We at PHR send our condolences to Murdoch’s family, friends, and former teammates.

Latest On Mike Hoffman

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Two years into his career as a Montreal Canadien, it’s abundantly clear that Mike Hoffman’s three-year, $4.5MM AAV contract from the 2021 free agent cycle hasn’t quite worked out as planned for both parties.

The Canadiens went from Stanley Cup finalist the season before Hoffman’s arrival to NHL basement-dweller after his signing, kicking off an organizational rebuild that saw the departure of the GM who inked Hoffman to his deal, Marc Bergevin.

Hoffman, who is set to turn 34 in November, saw his production decline as he went from scoring at a 27-goal, 57-point 82-game pace with the St. Louis Blues to an 18-goal, 42-point 82-game scoring rate in Montreal.

It’s likely that Montreal is feeling some buyer’s remorse after sinking $4.5MM AAV into a player who had six consecutive seasons of 20 or more goals from 2014 to 2020 and has only scored 15 in each of his two seasons with the Canadiens.

That price tag is made all the more regrettable given the flat-cap environment the NHL still finds itself navigating, where cap space is held at an absolute premium.

Now, despite serving as a rare veteran scorer in Montreal who has been relatively healthy over the past two years, it appears Hoffman’s grip on an NHL job in Montreal could be weakening. In a mailbag completed by The Athletic’s Arpon Basu, Basu writes that “there’s a very real possibility [Hoffman] gets waived and assigned to Laval.” (subscription link)

Basu’s rationale is that the Canadiens have a growing group of young forwards the Canadiens will want to offer prime player development opportunities at the NHL level, and he doesn’t think “Canadiens management is willing to allow a development opportunity pass them by with the slight hope that playing Hoffman could lead to a trade at the deadline.”

It would certainly be a bit of a drastic step to see Hoffman waived and playing in Laval (it’s extremely unlikely he would be claimed at a $4.5MM cap hit), though it’s not without precedent in Montreal. Another former marquee Canadiens UFA signing, Karl Alzner, spent two seasons in Laval after the value he provided on his $4.625MM AAV free agent contract went up in flames due to on-ice regression.

Hoffman is a pure goal scorer who despite improved underlying metrics from last season offers little in the way of defensive value and a highly limited ability to play in a role on a checking line. Unless an injury hits before opening night, the Canadiens are highly likely to reserve top-nine forward roles for Cole Caufield, Nick Suzuki, Josh Anderson, Alex Newhook, Kirby Dach, Brendan Gallagher, Juraj Slafkovský, and Sean Monahan.

That would leave Hoffman battling for one final top-nine slot against Rafaël Harvey-Pinard, who matched Hoffman’s goal total last season despite playing just 34 games, Jesse Ylönen, who flashed some offensive potential late last season and is waiver-eligible for the first time in his career, and prospects such as Sean Farrell, Josh Roy, and Emil Heineman.

One has to believe that with player development being of paramount importance to the Canadiens’ plans under head coach Martin St. Louis, one of those names will end up the Canadiens’ preference for that last top-nine spot over Hoffman.

Montreal could then keep Hoffman in the press box as a 13th forward, though that would require placing Christian Dvorak on injured reserve or exposing fan favorite Michael Pezzetta to waivers. And even if the club keeps Hoffman on the NHL roster in Dvorak’s absence, he’s expected to return to full health relatively early in the season anyway which could force the club to choose between waiving Hoffman or Pezzetta.

Taking this whole roster picture into account, it appears, as Basu suggests, that there is a very real path for Hoffman to be placed on waivers and play in the AHL next season. One injury could, of course, change all of that, and given the Canadiens’ injury luck during Hoffman’s tenure, it’s far from a certainty that the team remains healthy through the training camp and preseason process.

But if that doesn’t happen, we could see a former 36-goal, 70-point scorer with over 200 NHL goals on his resume exposed to waivers and playing minor-league hockey early in the 2023-24 campaign.

Photos courtesy of USA Today Sports Images.

Montreal Canadiens Sign Jesse Ylönen

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The Montreal Canadiens have agreed to terms on a one-year, two-way contract with restricted free agent forward Jesse Ylönen, per a release issued Monday morning. TVA’s Renaud Lavoie reports Ylönen’s NHL salary is $775K, while he’ll earn $200K in the AHL with a $275K minimum salary guarantee.

An early second-round selection of the Canadiens in 2018, the 23-year-old Finn played a career-high 37 games in a Canadiens jersey last season and looks well on his way to becoming a full-timer in the NHL. 2022-23 was a major offensive breakthrough for Ylönen at the NHL and AHL levels. He recorded six goals and 16 points with the Habs and a career-best points pace of 32 in 39 games with the Laval Rocket.

He mostly played a bottom-six scoring role with the Habs last season, sometimes seeing under 10 minutes of ice time per game. However, he did elevate into the team’s top six at times later in the season when injuries struck, actually seeing a fair bit of playing time alongside number-one center Nick Suzuki in the absence of star sniper Cole Caufield, who missed the latter half of the season thanks to shoulder surgery.

Unfortunately for Ylönen, he’s a good prospect on a team with several other youngsters that arguably have higher ceilings. For that reason, he may find himself on the outside looking in on Montreal’s opening night roster, and he could begin the season in the minors with Laval again. He’ll have to battle for ice time with former first-round picks such as Alex Newhook and Juraj Slafkovsky, a race he won’t likely win. However, Ylönen could still unseat a veteran like Joel Armia in the team’s bottom six if he forces the team’s attention at training camp.

Ylönen will be a restricted free agent again in 2024. He will be eligible for arbitration after not being eligible this offseason.

Canadiens Haven't Shown Interest In Max Comtois

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Despite the struggles, Comtois revealed that a handful of teams have shown interest in him thus far, giving him confidence that he’ll have a place to play when training camps open up in mid-September.  While he wouldn’t reveal which ones have shown interest, he did indicate that his hometown Canadiens are not among the teams that have reached out to his camp to express any interest in signing him.

Montreal Canadiens Sign Nicolas Beaudin, Lucas Condotta

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The Montreal Canadiens have signed a pair of depth players this morning, inking defenseman Nicolas Beaudin to a one-year, two-way contract and forward Lucas Condotta to a two-year, two-way contract.

CapFriendly reports Beaudin’s contract has an NHL salary of $775K, an AHL salary of $90K, and a minimum guaranteed salary of $110K. Condotta’s compensation hasn’t been reported yet.

A 2018 first-round pick, Beaudin found himself in the Canadiens organization this season after they acquired him from the Chicago Blackhawks in exchange for minor-league forward Cameron Hillis just weeks into the campaign. The move has since panned out extremely well for both Beaudin and the Habs.

The 23-year-old defenseman had gone through some troubles adjusting to the pro game while in Chicago, issues undoubtedly exacerbated by the inconsistencies of playing time during the COVID-19 pandemic. He’s also got a rather slight frame, standing at just 5-foot-11 and 168 pounds.

But things took off for the left-shot defender with the AHL’s Laval Rocket, where he scored twice and added 23 assists for 25 points in 39 games after the trade, trouncing last season’s offensive production. He saw some limited minutes at even strength, but he dominated them defensively – per data from Pick224, he was on the ice for just 16 goals at even strength in 42 total AHL games last year. He’s not expected to earn a spot with the Canadiens out of camp, but do look for him to take on an increased role in Laval next year.

The 25-year-old Condotta, meanwhile, made his NHL debut last April against the Boston Bruins, scoring a goal in the process. An undrafted free agent signing out of the University of Massachusetts-Lowell, Condotta scored 16 goals and 15 assists for 31 points in 72 games with the Rocket in his first full pro season in 2022-23. He did so largely in a bottom-six role in the minors, where he’ll likely stick around as some younger and higher-ceiling Canadiens prospects take precedence.

Beaudin will be a restricted free agent again at the end of his deal, while Condotta’s extension walks him to unrestricted free agency in 2025.

Montreal Canadiens Sign Alex Newhook

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The Montreal Canadiens have gotten a deal worked out for their big trade addition this offseason. After nabbing the signing rights to former first-round pick Alex Newhook via trade from the Colorado Avalanche last month, the team’s now inked him to a four-year contract with an average annual value of $2.9MM. CapFriendly reports the breakdown of the deal as follows:

2023-24: $3.5MM salary
2024-25: $3.3MM salary
2025-26: $2.7MM salary
2026-27: $2.1MM salary

Newhook will still be a restricted free agent at the end of this semi-long-term commitment, given he’s still just 22 years old and has only two full seasons of pro experience. This is the longest contract possible for Newhook without surrendering his signing rights at the end – a five-year deal would have walked him directly to unrestricted free agency in 2028.

While Newhook may not have taken the step forward most hoped for in Colorado last season, a $2.9MM cap hit is still fair value for his services, even if he doesn’t pan out as hoped with the Canadiens. The 2019 16th overall pick played in all 82 games for the Avalanche last season but posted just 14 goals, 16 assists, and 30 points despite being given top-six minutes to start the season. He’d later fall down the depth chart in favor of J.T. Compher, who earned himself a payday in free agency by signing a five-year contract with the Detroit Red Wings.

As it stands right now, Newhook is a fine third-line center whose game translates to the wing rather seamlessly. The contract may be a slight overpay based on last year’s performance, but it could be a significant bargain in a couple of years should he approach his ceiling – a bonafide top-six playmaking center.

Newhook projects to fit in somewhere among Montreal’s second or third lines, although predicting line combinations at this stage in the offseason isn’t a prudent exercise given the team’s backlog among forwards of depth veterans and up-and-comers alike. It does seem likely he’ll start the season on the wing, however, unless the team pursues trading someone like Christian Dvorak.

Montreal Canadiens Re-Sign Mitchell Stephens

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Center Mitchell Stephens has a new contract for 2023-24, re-signing with the Montreal Canadiens on a one-year, two-way deal. Per CapFriendly, the deal pays him $775K in the NHL and $300K in the minors, carrying a minimum guaranteed salary of $385K.

The 26-year-old Ontario-born forward was a restricted free agent this offseason, although he didn’t file for salary arbitration despite being eligible.

Stephens didn’t see any NHL ice last season, spending the entire campaign in the AHL for the first time since 2018-19. In 68 games with the Laval Rocket, he registered 20 goals and 21 assists for 41 points, finishing third on the team in scoring.

He is a reliable NHL call-up option if Montreal wants a more veteran presence. He’s accumulated 72 NHL games over three seasons with the Detroit Red Wings and Tampa Bay Lightning, scoring three goals and 13 points while largely playing in a fourth-line role.

Selected 33rd overall in 2015 by Tampa Bay, it doesn’t appear a full-time NHL role is in Stephens’ future. However, he’ll lock down a top-six role again in Laval next season.

Re-signing Stephens leaves Montreal with four RFAs still to sign: center Alex Newhook, left wing Lucas Condotta, right wing Jesse Ylonen, and left defenseman Nicolas Beaudin.

Canadiens Amateur Scout Explains David Reinbacher Selection

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  • Montreal Canadiens co-director of amateur scouting Nick Bobrov sat down with The Athletic’s Arpon Basu, commenting on the organizational philosophy that led them to select defenseman David Reinbacher at fifth overall – a pick contested by some who believe the team should’ve taken a swing on Matvei Michkov, who fell to seventh overall. Emphasizing Reinbacher’s solid pro play and well-rounded analytical profile, Bobrov did have an interesting comment regarding concerns about the team’s lack of scoring: “So I would push back against the notion that we have no scoring. We have very young players who always scored, and they’re getting better every month. And then, you know, how many 40-goal scorers did Vegas have this year? You start looking at the playoffs, right? The playoffs.” Scoring by committee isn’t a new philosophy for the Habs, who haven’t had a player hit the 80-point plateau since Alex Kovalev in 2008.

Alain Vigneault Announces Retirement From Coaching

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After a 19-season head coaching career spanning four teams, seasoned NHL bench boss Alain Vigneault has declared his retirement from coaching in an interview with the Journal de Québec, according to a report from French-Canadian outlet RDS.

Vigneault, still under contract with the Flyers after being fired in December of 2021, made it clear that his last contract would be his final one and that he has no intention of returning to coaching. Pierre LeBrun of TSN and The Athletic reported last summer that Philadelphia was likely Vigneault’s final stop as an NHL head coach.

The 62-year-old Canadian coach leaves behind a rather illustrious coaching career – Vigneault’s 1,363 games behind an NHL bench places him 15th in NHL history for most games coached. He accumulated over 700 wins throughout his coaching journey, a feat achieved by only nine other coaches in NHL history.

However, he didn’t quite reach hockey’s pinnacle, never getting his name engraved on the Stanley Cup. Although he made the playoffs in 12 of his 19 seasons, he advanced twice to the Stanley Cup Final, losing in both tries.

Vigneault’s coaching tenure in the NHL began in the 1997-98 season when he took the helm of the Montreal Canadiens. He then went on to coach the Vancouver Canucks, New York Rangers, and finally, the Philadelphia Flyers.

Vigneault’s primary piece of individual hardware came in 2006-07, winning the Jack Adams Award in his first season with the Canucks after guiding the team to a 49-26-7 record and Northwest Division title. Vancouver would bow out in the second round to the eventual Stanley Cup champion Anaheim Ducks, thanks to a relatively innocuous double-overtime winner in Game 5 from Ducks defender Scott Niedermayer (video link).

Vancouver was undoubtedly Vigneault’s most successful stop, as he would win back-to-back Presidents’ Trophies with the team in 2010-11 and 2011-12. The Canucks made their first Stanley Cup Final appearance in nearly two decades in 2011 but fell to the Boston Bruins in seven games after taking a 2-0 lead in the series.

Vigneault made it back to the Final three seasons later with the New York Rangers but lost all three overtime games in the series en route to a 4-1 defeat at the hands of the Los Angeles Kings.

Before starting his coaching career, Vigneault had a brief playing stint as an NHLer. He played 42 games as a defenseman for the St. Louis Blues in the 1980s before transitioning to coaching at just 25 years old.

He does boast an all-time playoff record of 78-77, a rare mark above .500 for a coach without a Cup victory. With his longevity placing him in the upper echelon of all-time NHL coaches, as well as a Jack Adams and two conference championships, it wouldn’t surprise many to see a call from the Hockey Hall of Fame in his future.

Photo courtesy of USA Today Sports Images

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