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Erik Karlsson

“Clarity” On Erik Karlsson Trade Could Come This Weekend

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The Pittsburgh Penguins could finally be inching closer to landing defenseman Erik Karlsson with a second buyout window opening for the team this weekend. The pursuit of Karlsson by the Penguins, Carolina Hurricanes and others has been a dominant storyline for the past two months, and now there’s a sense that some clarity might be on the horizon, Sportsnet’s Elliotte Friedman said on NHL Network yesterday.

Now armed with some additional salary cap flexibility thanks to Jake Guentzel’s ankle injury that should place him on LTIR for the first month of the season, the Penguins have more dice to roll in regard to a Karlsson deal. The team could also free up more space through that second buyout window, using one on someone like Mikael Granlund, who’s locked in at a $5MM AAV for two more seasons. It would be a change in pace for GM Kyle Dubas, though, who’s expressed publically he’s hesitant to go the buyout route. As GM of the Toronto Maple Leafs, he offloaded a first-round pick for the Carolina Hurricanes to take and buy out the final season of Patrick Marleau’s contract in 2019.

That being said, there aren’t a whole lot of other options for the Penguins to free up enough space to make a deal unless the Sharks are willing to take on a bad contract or two in return. The latter is unlikely, given they’re undoubtedly going to retain more salary than they’re comfortable with to facilitate a Karlsson trade. With Friedman hearing there’s increased activity this week on the Penguins/Karlsson train, it’s not hard to connect the dots on Dubas’ potential cap-clearing plans.

While the list of teams connected to Karlsson is largely public knowledge at this point, what a potential deal could look like isn’t. It’s been reported multiple times that San Jose will likely have to retain at least $3.5MM of Karlsson’s $11MM cap hit for four more seasons to move him out, but other than that, it’s anyone’s guess as to what amount of roster players, picks, and prospects it’ll take to win a bidding war for last year’s Norris Trophy winner.

Speculatively, one player who could head to San Jose is 23-year-old defenseman Ty Smith. The 2018 17th-overall pick burst onto the scene with 23 points in just 48 games during his rookie season with the New Jersey Devils in 2020-21, but he struggled heavily on the defensive end of things the following season and was traded to Pittsburgh in 2022. He spent most of last season in the minors, only skating nine games with the Penguins, but he’ll need waivers to return there next season if he can’t find a spot in the NHL lineup. On a team with paper-thin defensive depth such as San Jose, he’d likely immediately factor in as a top-four threat.

It’s worth noting that Pittsburgh also has all six of their first- and second-round picks in the next three drafts.

Erik Karlsson Has Spoken With Numerous Teams About A Trade

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For the past few weeks, there have been suggestions that Pittsburgh and Carolina are the two front-runners to land Sharks defenseman Erik Karlsson.  However, the blueliner himself revealed to SportExpressen’s Adam Johansson that he has spoken to several other teams about the possibility of a swap.  The two that he noted specifically were Seattle and Toronto while he acknowledged that there are a few others as well.

Karlsson has been in trade speculation dating back to before the trade deadline with San Jose squarely in a rebuild and the 33-year-old coming off a surprising career year.  Last season, Karlsson became the first defenseman in more than three decades to surpass the 100-point mark, helping him take home his third career Norris Trophy.

In doing so, he presented the Sharks with an opportunity to trade his contract, a scenario that didn’t seem all that feasible just a year ago.  Karlsson is on the richest deal for a blueliner in NHL history, one that still has four years remaining at a cap hit of $11.5MM.  Even though it was a front-loaded pact, there is still nearly $40MM in total compensation owed to him.  That’s a particularly notable figure as while there is an expectation that San Jose will need to retain some money, it isn’t going to come close to the maximum allowable of 50% as they’re not going to pay Karlsson nearly $20MM over the next four years not to play for them.

Of course, that also complicates things on the trade front as none of the Hurricanes, Penguins, Maple Leafs, or Kraken have anywhere near enough cap space to take Karlsson on outright.  They will need the Sharks to retain a sizable piece while sending a significant salary offset or two to San Jose in order to make the money work.  Clearly, it’s a process that is taking some time.

When asked by Johansson if he had a preferred destination, Karlsson declined to provide one, only saying that he knows what he and his family wants and that he hopes he gets that chance.  Long citing his desire to land with a contender, wherever (and whenever) he goes, Karlsson should be landing with a team that’s much closer to playoff contention than San Jose currently is.

Update On Erik Karlsson To Pittsburgh Rumblings

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Rob Rossi of The Athletic wrote a column today with regard to the Erik Karlsson trade saga. While many of the updates offered were hardly surprising, there were a few pieces of information that gave some insights into how the Pittsburgh Penguins became involved in the trade talks. Pittsburgh always seemed like a team that couldn’t squeeze a player with Karlsson’s cap number into their lineup, but based on the recent reporting it appears that they are the front-runner.

Rossi begins the article by dropping the news that Kyle Dubas reportedly identified Erik Karlsson as a trade target while he was in the interview process with Penguins ownership. Now, aside from the Tristan Jarry extension to this point much of Dubas’ work has been to tinker around the edges of the Penguins lineup. But it does appear that he’s built up the club’s depth in the bottom six and their defense core for the possibility that some players could be shipped out very soon.

Another newer piece of information that Rossi mentions is that Sidney Crosby and Kris Letang have reportedly endorsed the potential Karlsson acquisition and in Letang’s case, he’s even agreed to make changes to his own role within the Penguins lineup. If a potential trade were to go through, Letang would remain as Pittsburgh’s number one defenseman, however, Letang would change his powerplay role to allow Karlsson to quarterback the Penguin’s powerplay.

San Jose was also reportedly interested in defenseman Marcus Pettersson being part of a potential blockbuster, however, Dubas has squashed that notion thus far as head coach Mike Sullivan sees Pettersson and newly acquired defender Ryan Graves as the top two options for the left side of Pittsburgh’s defensive group. Pettersson was terrific for Pittsburgh last season after seeing his name all over trade rumors boards for much of the summer of 2022.

Lastly, Dubas apparently wants to put top-5 protection on any first-round pick he trades in a Karlsson deal and has reportedly floated the idea of putting other conditions such as home-ice advantage on lower-round draft picks that could be involved in the deal.

While it appears that the Penguins are still the front-runner to land the reigning Norris Trophy winner, it doesn’t appear that a trade is imminent anytime soon. Pittsburgh would have to navigate an awful lot of moving parts to push the trade through, however, as we’ve seen in the past these trades can come together quickly when teams are motivated to make the move happen. Regardless of the outcome, it does look like Dubas has plans to continue his makeover of the Penguins roster before the start of the 2023-24 season.

Penguins Notes: Karlsson, Guentzel, O’Connor

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Josh Yohe of The Athletic writes that all is quiet on the Erik Karlsson trade talks, but the Pittsburgh Penguins remain very interested in the reigning Norris Trophy winner. Yohe doesn’t know whether a deal will materialize quickly or if it could drag out all summer, but Mark Madden has one theory on the matter that Tim Benz writes about in the Pittsburgh Tribute-Review. Madden says that his sources have told him that the San Jose Sharks have the Penguins and the Carolina Hurricanes’ best offers and everyone is in a holding pattern to see if the Sharks will crack and take one of the deals.

Kyle Dubas and the Penguins would clearly love to complete a deal, but they do have a reasonably good top-4 defensive group should they miss out on landing Karlsson. While trading for Karlsson would dramatically improve the Penguins offense, they do have a good fallback option should he end up elsewhere. At the moment, Pittsburgh has Jeff Petry penciled in on the right side of their second pairing, and while he didn’t play up to his $6.25MM cap hit last year, his pairing with Marcus Pettersson was quite good.

In other Penguins notes:

  • Yohe writes in The Athletic that the Penguins and pending unrestricted free agent forward Jake Guentzel have had no talks on a contract extension for the two-time 40-goal scorer. Yohe doesn’t find this surprising given that acting Penguins general manager Kyle Dubas has been busy taking care of other business and adds that he and Guentzel’s agent have a good working relationship. Yohe’s sense is that the Penguins’ veteran players want Guentzel in the fold long-term, and he figures that the two sides will come to an agreement on an extension in the not-too-distant future. Guentzel has scored 76 goals in the past two seasons and has been the most productive winger that Sidney Crosby has played with, however, he is small in stature and will be 30 years old by the time his next contract kicks in. He will also be looking to cash in on what is likely to be the last lucrative long-term deal he will sign.
  • Dan Kingerski of Pittsburgh Hockey Now wonders if the outcome of restricted free agent Drew O’Connor’s contract negotiations is tied to the Penguins’ desire to facilitate a trade for a defenseman. O’Connor filed for arbitration a few weeks ago meaning that once his case is settled or he re-signs it will open a second buyout window for the Penguins. Pittsburgh currently sits over the salary cap even with O’Connor unsigned but could buyout one of their undesirable contracts to create space once O’Connor puts pen to paper. The 25-year-old isn’t expected to demand much of a cap hit as he posted just five goals and six assists in 46 games last season and spent a good chunk of the year in the AHL, however, the days after he signs his next deal could send shockwaves through the NHL.

Snapshots: Karlsson, McCudden, Valiev

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Last week, we covered growing rumors that the Pittsburgh Penguins were pursuing a trade for San Jose Sharks defenseman Erik Karlsson, the 2023 Norris Trophy winner. Today, The Athletic’s Josh Yohe reported some new details on the Penguins’ Karlsson chase, writing “the Penguins were extremely close to landing Karlsson on July 1” and that “a deal was close to being completed that morning.” (subscription link) It’s long been speculated that a third team would be necessary for the Penguins to be able to absorb Karlsson’s cap hit, so it’s possible that this reported deal fell through due to cap-related considerations.

Given just how difficult moving money between teams has been due to the flat-cap environment, it’s no surprise Karlsson remains on the Sharks’ roster nearly two full weeks after that deal was nearly completed. What Yohe’s report indicates, though, is that the Penguins are earnest in their efforts to acquire Karlsson and that the possibility he joins Kris Letang and Ryan Graves on Pittsburgh’s blueline is more realistic than some might think.

Some other notes from across the hockey world:

  • The Columbus Blue Jackets announced this morning that assistant coach Kenny McCudden has departed the organization. Blue Jackets GM Jarmo Kekalainen issued a statement that added some clarity to the situation. McCudden was entering the final year of his contract and was slated to work on new head coach Mike Babcock’s staff. In his statement, Kekalainen indicates McCudden had a “desire to either sign a contract extension or look at other opportunities,” while Kekalainen’s preference is that “everyone [on the coaching staff] gets to know each other before deciding on extensions.” So, with those two opposing preferences laid out, McCudden’s departure seems to have been the natural outcome. Now he will seek other opportunities after coaching for eight seasons in Columbus and helping contribute to what was arguably the most successful period in franchise history under former head coach John Tortorella.
  • Former Toronto Maple Leafs defenseman Rinat Valiev has been traded in the KHL. According to the KHL’s Admiral Vladivostok, Valiev has been acquired by Ak Bars Kazan, his former club, for monetary compensation. Valiev, 28, left North American pro hockey after the 2019-20 season and didn’t play in 2020-21. He spent 2021-22 mostly with Ak Bars Kazan, skating in two games for their KHL team and 23 games in the VHL, the league below the KHL. Valiev signed a two-year deal with Vladivostok in advance of 2022-23 but played in just 18 games this past season and just two in the 2023 calendar year. He’s been sent back to Ak Bars Kazan and will hope to feature more regularly in their KHL lineup in 2023-24.

Latest On Erik Karlsson Trade Talks

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Sportsnet’s Elliotte Friedman reported today on the NHL Network that the San Jose Sharks remain steadfast in their efforts to trade reigning Norris Trophy winner Erik Karlsson. Friedman goes on to say that the Carolina Hurricanes and Pittsburgh Penguins are the two teams that the Sharks are talking to and adds that Carolina may need to work out of a move for defenseman Brett Pesce to acquire some assets to complete a Karlsson deal.

On the Pittsburgh side of things, Josh Yohe of The Athletic wrote an article today that outlined why Erik Karlsson is the type of player that general manager Kyle Dubas needs to acquire. Yohe highlights exactly why Karlsson is the right player for the team and the situation the Penguins are currently in. While most of Yohe’s article is in defense of the Penguins acquiring the defenseman, he also adds a couple of pieces of information regarding a potential move. Yohe says that any move Pittsburgh makes for Karlsson would be complex and would involve a third team, which is no surprise given that Karlsson is owed $11.5MM annually for the next four seasons.

Friedman reported Tuesday on his 32 Thoughts Podcast that one hold-up to the potential deal was that teams wanted the Sharks to retain more of Karlsson’s cap hit. He went on to add that at the trade deadline in March San Jose was willing to retain between 18-20% of Karlsson’s cap hit to facilitate a deal. Friedman believes the Sharks will need to retain closer to 30% of the deal which would turn Karlsson into an $8MM player for the acquiring team, and should net the Sharks a better return. Something they are open to. Friedman also reported today on the NHL Network that he believes the Sharks have pursued unrestricted free-agent defenseman Matt Dumba as a possible replacement for Karlsson.

At this point, it almost feels as though the Penguins must acquire Karlsson. Not only would they block Carolina from adding Karlsson to their already stacked defensive unit, but it would help to jump-start their offence which became stale last year for long stretches. Pittsburgh feels like a team that needs a jolt as they have been unable to get out of the first round of the playoffs since 2018 and didn’t even qualify for the postseason last year. Adding a 101-point defenseman would also alleviate some of the offensive pressure off Sidney Crosby, Evgeni Malkin, and the rest of the Penguins’ top-6 forward group who almost single-handily carried the team last season. And while Dubas has been busy overhauling the black hole that was the Penguins’ bottom six, he still hasn’t added much in the way of offensive firepower.

Multiple Teams Engaging In Erik Karlsson Trade Talks

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An expectedly hot trade market could soon see a rather Earth-shattering trade. Newly-crowned Norris Trophy winner Erik Karlsson of the San Jose Sharks has been on the trade block for quite some time, and he’s made it known he’d like to get dealt to a contender.

Now, we have some clarity on some teams EK65 could suit up for next season. The Toronto Maple Leafs, Carolina Hurricanes, and Seattle Kraken have reportedly initiated discussions with the Sharks regarding the possibility of acquiring the star defenseman, says Pierre LeBrun of The Athletic. LeBrun also indicates, though, that Karlsson has not yet provided Sharks general manager Mike Grier with a list of preferred destinations, leaving the trade negotiations as an “open canvas.”

Karlsson boasts a massive $11.5MM cap hit through 2027 and has long been considered one of the most dynamic defensemen in the league. However, injuries had plagued the Swedish defenseman in recent seasons, dampening his on-ice impact. 2022-23 saw him shake off most of the rust, though, becoming the first defenseman to record 100 points in a season since Brian Leetch in 1991-92. Nevertheless, his defensive deficiencies combined with the concern for re-injury will likely involve the Sharks, and potentially a third party, retaining massive amounts of his salary.

The Maple Leafs are definitely the team who would need the most help via salary retention to get a deal done. They are slated to have around $14.75MM in cap space with defenseman Jake Muzzin headed for long-term injured reserve, but they need to fill at least five roster spots at forward and get a new contract signed for netminder Ilya Samsonov. A trade, however unlikely it may seem, could include T.J. Brodie, who’s locked in at a $5MM cap hit next season and is a UFA in 2024. Karlsson would essentially replace his spot in the lineup.

Few teams would complement Karlsson’s puck-moving style as well as Carolina. This is likely a fallback option for them if they can’t reach an extension with Brett Pesce, although it’s hard to imagine two players at further ends of the defense spectrum. One would have to wonder about the necessity of acquiring Karlsson for the ’Canes, though, as a former teammate of Karlsson’s,  Brent Burns, is already under contract through 2025, and they’re still working on acquiring Anthony DeAngelo from the Philadelphia Flyers (which, legally, can’t be completed for another few weeks for cap circumvention purposes).

As for the Kraken, the budding franchise has apparently wasted no time in trying to solidify themselves as a championship contender after winning their first playoff series this spring. They’ve got a bevy of talented forwards and a true four-line attack, but their biggest roster hole lies with a second-pairing right-shot defenseman behind shutdown stalwart Adam Larsson. They do have the cap room to make it work – their only notable expenditure this offseason will be re-signing blueliner Vince Dunn, which could cost them around $7MM per season. It still would leave them with about $13MM in cap space and very few other roster holes to fill, making this a very doable task for the Kraken with 35-50% salary retention.

More to come…

2023 NHL Awards Winners

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2023 The NHL Awards were given out tonight in Nashville. The ceremony kicks off what should be a busy week as teams continue to prepare for the NHL Entry Draft and free agency, which begins on July 1st.

Here is the full list of winners, with the top two runners-up in each category:

Calder Trophy – Top Rookie

Winner: Matthew Beniers (Kraken)

Runners-Up: Owen Power (Sabres), Stuart Skinner (Oilers)

Voting Results

Norris Trophy – Top Defenseman

Winner: Erik Karlsson (Sharks)

Runners-Up: Adam Fox (Rangers), Cale Makar (Avalanche)

Voting Results

Ted Lindsay Award – Most Outstanding Player (as voted by the players)

Winner: Connor McDavid (Oilers)

Runners-Up: Erik Karlsson (Sharks), David Pastrnak (Bruins)

Lady Byng Trophy – Most Gentlemanly Player

Winner: Anze Kopitar (Kings)

Runners-Up: Jack Hughes (Devils), Brayden Point (Lightning)

Voting Results

Hart Trophy – Most Valuable Player

Winner: Connor McDavid (Oilers)

Runners-Up: David Pastrnak (Bruins), Matthew Tkachuk (Panthers)

Voting Results

Vezina Trophy – Goaltender Of The Year

Winner: Linus Ullmark (Bruins)

Runner-Ups: Connor Hellebuyck (Jets), Ilya Sorokin (Islanders)

Voting Results

Selke Trophy – Best Defensive Forward

Winner: Patrice Bergeron (Bruins)

Runners-Up: Mitchell Marner (Maple Leafs), Nico Hischier (Devils)

Voting Results

Jack Adams Award – Coach Of The Year

Winner: Jim Montgomery (Bruins)

Runners-Up: Dave Hakstol (Kraken), Lindy Ruff (Devils)

Voting Results

Bill Masterton Memorial Trophy – Perseverance, Sportsmanship, and Dedication

Winner: Kris Letang (Penguins)

Runners-Up: Clayton Keller (Coyotes), Alex Stalock (Blackhawks)

King Clancy Memorial Trophy – Humanitarian

Winner: Mikael Backlund (Flames)

Runners-Up: Anders Lee (Islanders), Darnell Nurse (Oilers)

Mark Messier Leadership Award

Winner: Steven Stamkos (Lightning)

E.J. McGuire Award – Prospect Commitment to Excellence

Winner: Connor Bedard (Regina Pats, WHL)

 

Congratulations to all the winners and the nominees.

Connor McDavid Wins 2023 Ted Lindsay Award

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Connor McDavid has been named the recipient of the Ted Lindsay Award for the most outstanding player as voted on by the NHLPA. The award is unsurprising, given that McDavid ran away as the leader in almost every offensive category this season. McDavid posted 64 goals and 89 assists in 82 games this season as he led the league in goals, assists, and points. McDavid edged out Boston Bruins forward David Pastrnak and San Jose Sharks defenseman Erik Karlsson to win the award, the fourth of his young career.

More to come…

Trade Notes: Karlsson, DeBrincat, Pesce

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It’s not often that a defenseman is traded the summer after a Norris Trophy-winning, 101-point season, but that’s exactly what might happen with Erik Karlsson and the San Jose Sharks. With San Jose looking to rebuild and Karlsson’s historic regular season unable to lift the team out of the NHL’s basement, this summer could bring the second trade of Karlsson’s career. The Athletic’s Pierre LeBrun reported on TSN’s Insider Trading program that Karlsson’s representatives and the Sharks had a meeting last week about the player’s future, and the outcome of the meeting was a unified focus between team and player to “try and get a trade done” for next season.

Karlsson, 33, is in possession of a full no-movement clause in his contract meaning he would have final control over any destination. The largest barrier to any potential move isn’t expected to be that clause, though. Instead, it’s likely to be Karlsson’s $11.5MM cap hit, and whether interested teams will be willing to take on the full weight of that hit. (or whether the Sharks will need to retain a portion of the contract) In any case, it appears the Sharks and Karlsson’s camp share a motivation to find a trade outcome before the start of next season.

Some other notes about trade rumors from across the NHL:

    • Also on Insider Trading, TSN’s Chris Johnston reports that the Senators, by filing for arbitration with restricted free agent forward Alex DeBrincat, have “set the window for when they have to trade” the player. Johnston believes the Senators will make a push to get a DeBrincat trade finalized “by the draft this month” if possible. One might remember that DeBrincat was traded to Ottawa on draft day last year, and now based on Johnston’s report it seems he could get dealt on one of hockey’s most significant days once again, if not sooner.
    • Like DeBrincat, Carolina Hurricanes defenseman Brett Pesce has the chance to become an unrestricted free agent next summer. On Insider Trading, LeBrun reported that while contract talks on an extension are continuing between Pesce and Carolina, the Hurricanes are “pretty resolute” that they’ll be trading him this summer if they can’t secure his signature on a new deal. LeBrun also adds that the Buffalo Sabres have already inquired about the possibility of trading for Pesce, potentially to be Owen Power’s long-term partner. It’s likely that the widely-respected 28-year-old blueliner would garner significant trade interest if put on the market. He just finished a year where he made a major impact on both ends of the ice, setting a career-high of 30 points while also serving as a leading penalty killer for a Carolina shorthanded unit that consistently ranks among the best in the NHL.

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