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Erik Karlsson

Sharks Best Positioned To Win First Overall Pick

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Harman Dayal of The Athletic writes that the San Jose Sharks are the team that is best positioned to win the draft lottery in 2024 and ultimately the first overall pick. Dayal ranked the top five teams with the best chance to do so, and in his estimation, he believes that the Chicago Blackhawks will have the second-best odds, the Philadelphia Flyers third, Anaheim Ducks fourth, and the Montreal Canadiens rounding out the top 5.

Given the offseason that the Sharks have had, the rankings are hardly a surprise. The Sharks dealt the reigning Norris Trophy winner Erik Karlsson to the Pittsburgh Penguins for a lot of bad roster players and several draft picks. The move to embrace a full rebuild was the correct one given where the Sharks are in their roster construction, but it is going to lead to a lot of lean years and in Dayal’s view this one could be the toughest.

After subtracting Karlsson, the Sharks added Mikael Granlund, Mike Hoffman, Jan Rutta, Filip Zadina, and Anthony Duclair. While several of those players still have something to offer a team, none of them appear likely to be with the Sharks long-term and most of the players will be asked to play this season in a roster spot that doesn’t match their current skillset. Take Rutta for example, he was a terrific sixth defenseman on the Stanley Cup winning Tampa Bay Lightning squads but struggled last season in Pittsburgh when he was asked to play in the top-4 in the absence of Kris Letang and Jeff Petry. Rutta was exposed as a liability on most nights in that role, and this year will be asked to play on San Jose’s top defensive pairing. It’s going to be a tough year for the Sharks’ defense as they likely don’t have a single defenseman on their roster that could play in the top-4 of a playoff team.

Zadina is also going to be asked to play a role that doesn’t match his skillset as he is currently pencilled in to play in the Sharks top line. He had trouble finding minutes in Detroit and was a healthy scratch at times. Now he will be asked to dress against opponents’ top units, which might make for a tough year for the 23-year-old who is trying to rebuild his stock after struggling with the Red Wings.

Outside of Duclair, every player the Sharks acquired this offseason was a lightning rod for criticism with their former clubs. Granlund in Pittsburgh was the move that probably got Ron Hextall fired as he didn’t mix with the Penguins, Hoffman wore out his welcome in Montreal and didn’t provide much besides a shot. Dayal is predicting that all these ingredients will be a recipe for disaster in San Jose, but it could also be the shot in the arm that their rebuild needs if they are in fact able to win the draft lottery and secure the first overall pick in 2024.

Pittsburgh Penguins Hire Doug Wilson

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The Pittsburgh Penguins announced this morning that have hired former San Jose Sharks general manager Doug Wilson as a Senior Advisor of Hockey Operations. According to the Penguins press release, Wilson’s role will see him provide his opinion and counsel to Penguins president and general manager Kyle Dubas, as well as offer his expertise relating to all hockey matters, including personnel decisions.

Wilson brings over four decades of NHL experience to the Penguins management group having spent over 25 years in management with the San Jose Sharks on top of his 16-year Hall-of-Fame playing career. Wilson oversaw a Sharks team that was consistently in contention without ever undergoing a true rebuild. Something the Penguins are likely staring down when the Sidney Crosby–Evgeni Malkin–Kris Letang era of hockey comes to an end.

Wilson was inducted into the Hockey Hall-of-Fame as a player in 2020 after dressing in 1024 career NHL games split between the Sharks and Chicago Blackhawks. The Ottawa, Ontario native recorded 237 goals in his career and 827 points and was the Norris Trophy winner in 1982.

He spent 19 years as the general manager of the Sharks, guiding them to 14 playoff appearances as well as a Presidents’ Trophy in 2009, to go along with six division titles. The Sharks never did win a cup under Wilson’s tutelage, coming close in 2016 when they lost in the Stanley Cup final to the Penguins.

Since arriving in Pittsburgh, Dubas has rebuilt the Penguins both off and on the ice, having overhauled their defense, their forward group, and now the hockey operations department. It should make for an interesting season in Pittsburgh as there is renewed optimism after the Penguins missed the playoffs for the first time since 2006. The Penguins have felt stale since 2018 and with the addition of Dubas, along with the Erik Karlsson trade, it seems the Penguins are trending in a positive direction as they enter what is likely to be the final run with this core.

Can The Pittsburgh Penguins Actually Sign Tomas Tatar?

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There aren’t many impact unsigned free agents remaining at this point in the offseason, but one name of note is forward Tomas Tatar. Tatar has been linked to several teams, including the Buffalo Sabres as an inexpensive replacement for the injured Jack Quinn. One team that popped up in the rumor mill last week was the Pittsburgh Penguins. Rob Rossi of The Athletic wrote that the Penguins were keenly interested but it all came down to whether Tatar would get a guaranteed contract offer elsewhere as the Penguins appeared to be offering a PTO for training camp in Pittsburgh with the expectation of a contract after. But can the Penguins realistically fit in another contract for a player coming off a season in which he scored 20 goals and 28 assists in 82 games?

In most off-seasons, the answer to that question would be an emphatic no. But the summer of 2023 has been unlike any other offseason. Players like Blake Wheeler have signed for less than $1MM annually. Matt Duchene took a one-year contract for $3MM despite being a year removed from topping 80 points, and Tatar remains unsigned despite providing consistent secondary scoring.

But all of this doesn’t necessarily mean the answer is a resounding yes, the Penguins would need to do some cap gymnastics to fit Tatar into the sliver of room they have under the salary cap ceiling. Currently, the Penguins have just north of $220K, which is obviously well below the NHL minimum.

Penguins general manager Kyle Dubas has said previously that he would use waivers as a means of becoming cap compliant, and the Penguins have plenty of players who could be placed on waivers to open up room for Tatar. Alexander Nylander and Rem Pitlick are two players that could be exposed and sent to the AHL to open up the room, but would that be enough to sign Tatar? The answer is a giant unknown at this time, but as we inch closer to training camp it becomes more and more possible.

Dan Kingerski of Pittsburgh Hockey Now explored another idea in an article as he wondered if a potential Jeff Carter trade would be possible. The 38-year-old London, Ontario native is in the final year of his contract with a cap hit of $3.125MM and is coming off a season in which he scored just 13 goals and 16 assists in 79 games and looked lost at times both offensively and defensively. Kingerski provides options in the article, the most interesting of which would have the Penguins retain 50% of Carter’s contract and staple a second-round pick to him to facilitate a move. While this scenario seems possible, the biggest caveat to a potential deal would be Carter’s full no-movement clause. Given all these moving parts, it seems unlikely any contending team would have room to take on even half of Carter’s cap hit and even less likely that Carter would waive his no-move to make it happen. Kyle Dubas has worked one miracle this summer in moving out Jeff Petry and Mikael Granlund for Erik Karlsson, but can he make another one happen?

Much like the Karlsson situation it feels like the longer this drags out the likelier it becomes the player ends up with the Penguins. But to make it happen Tatar is going to have to take a massive pay cut and perhaps accept just a one-year contract. A far cry from the $3.3MM annually that Daily Faceoff projected he would get on a three-year deal when free agency opened.

Trade Market Quiet For Noah Hanifin

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It appears that the holdup for a potential Noah Hanifin trade has been due to an underwhelming trade market. This comes from Sportsnet 960’s Pat Steinberg who also reported a few days ago that the trade market had been soft this summer for one of the Calgary Flames’ other trade chips Mikael Backlund.

Both Backlund and Hanifin will be free agents next summer, and while Backlund expressed an interest in seeing the season play out before signing an extension, Hanifin has said he doesn’t plan to sign a deal to extend his stay in Calgary.

Under normal circumstances, a 26-year-old first-pairing defenseman would be highly coveted, but as Steinberg reports, the Flames just haven’t received any strong offers. The Pittsburgh Penguins reportedly had interest earlier in the summer, but nothing ever materialized on the trade front, and given their pursuit of Erik Karlsson one must wonder if Penguins general manager used Calgary as leverage to get a better deal for Pittsburgh.

Lyle Richardson of The Hockey News wrote today that when the deal for Karlsson happened there was an expectation that there would be movement on the Hanifin front, but it has yet to materialize. He also speculates that perhaps the Flames will keep the rearguard until the March trade deadline when more teams will have accrued cap space due to injuries.

On the ice, Hanifin has been everything Calgary could have hoped for when they acquired him from the Carolina Hurricanes in a 2018 trade. He has averaged over 21 minutes a night during his time in Calgary and has put up 31 goals and 125 assists in 359 games with the Flames. Any potential team that acquires the Boston native would be getting a player capable of playing first-pairing minutes or being an exceptional second-pairing defenseman. Hanifin is an excellent skater and can generally be counted on for 35-40 points per season. He is in the final year of a contract that carries a $4.95MM cap hit and reportedly has an 8-team modified no-trade clause, meaning that Calgary has quite a few options to facilitate a potential move.

At the beginning of the summer, it looked as though the Flames would be busy in the trade market with several players approaching free agency. But, thus far general manager Craig Conroy has been quiet and may just start the season with several prominent free agents. It will make for interesting theatre as Flames fans don’t have to look back far to remember the exodus of top-end talent in the summer of 2022 that saw Johnny Gaudreau and Matthew Tkachuk take their talents south of the border. Calgary can ill afford to lose more high-end players for nothing and will likely be looking to make a flurry of moves in-season unless something materializes in the upcoming weeks.

Snapshots: Letang/Karlsson, Lundell, Top 50 Prospects

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One potential aspect of concern for Pittsburgh Penguins fans regarding the acquisition of Erik Karlsson is the rather rocky history of his playing with another high-powered right-shot defenseman. While there were no off-ice issues between him and similarly offensively elite teammate Brent Burns with the San Jose Sharks, they didn’t seem to exactly benefit each other on the ice, and Karlsson’s performance diminished when he wasn’t the sole go-to offensive defenseman for his team (although injuries also became a factor). With Kris Letang heading things up for the Penguins, it was natural to wonder whether similar issues may arise this time around.

Letang himself says he’s not worried, telling the Pittsburgh Post-Gazette’s Matt Vensel that Karlsson’s fit in Pittsburgh is “unbelievable.” The veteran Penguins defender alluded to the fact that Pittsburgh still has Sidney Crosby and Evgeni Malkin on separate lines and that having two elite puck-moving defenders to play with each at even strength will still allow both Letang and Karlsson to play to their strengths. Regarding his role on Pittsburgh’s power play, Letang said, “If they ask me to play in the pocket, if they ask me to play [in the left circle], on top, net front, it doesn’t matter.”

Elsewhere from around the NHL this evening:

  • The Florida Panthers are going to need contributions from everywhere in the lineup to keep their momentum rolling next season after last year’s breakthrough playoff performance, and The Hockey News’ David Dwork believes center Anton Lundell is primed for a breakout campaign in 2023-24. Dwork expects Lundell to see some more power play time next season after taking a small step back in the point production department last year, although he did have a strong postseason with ten points in 21 games. The 2020 12th-overall pick remains on track to become one of the better two-way talents in the game, following closely in the footsteps of teammate and fellow Finn Aleksander Barkov. Lundell will look to build on his rookie season form from 2021-22 when he recorded 44 points in 65 games to match a similarly stellar +33 rating and 56% Corsi For at even strength. He’s been relied upon to play solid penalty-killing minutes throughout both of his NHL seasons so far, too, an area where he did noticeably improve last season.
  • NHL Network released their yearly list of the league’s Top 50 Prospects, with 2023-drafted players taking the first four spots on the list. To no one’s surprise, Chicago Blackhawks projected first-line center Connor Bedard tops the list as a projected generational talent, but a fair amount would argue recency bias was quite strong in this year’s list. New Jersey Devils 2021 draft pick Luke Hughes was ranked as the top defenseman at number five on their list, while Minnesota Wild netminder Jesper Wallstedt was ranked as the top netminder at #21.

Poll: Who Won The Erik Karlsson Trade?

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For the first time in quite some time, the hockey world saw a blockbuster in early August, watching the San Jose Sharks trade defenseman Erik Karlsson to the Pittsburgh Penguins in a three-team deal. In recent trades over the last several years, teams have typically weaponized cap space as a third-team, retaining salary and usually getting mid to late-round picks in return. A unique aspect of this trade, however, is that the third team, the Montreal Canadiens, were able to take care of some business they had been hoping to accomplish for a while, namely removing forward Mike Hoffman’s salary off their books.

Running up to the Karlsson trade, speculation had arisen about how much the Sharks would eventually retain on Karlsson’s contract, and for the most part, it was much lower than many experts had theorized. San Jose only retained $1.5MM (13%) of Karlsson’s $11.5MM salary, effectively clearing $10MM from their cap table over the next four years. Nevertheless, the Sharks did take back salary in exchange with Hoffman ($4.5MM), Mikael Granlund ($5MM), and Jan Rutta ($2.75MM), but all three of these deals will be off their books after the 2024-25 NHL season.

Lastly, at face value, the Penguins appear to be the undeniable winner in this deal. Even though he has not played a game for Pittsburgh, acquiring the best player in the deal always looks good. Surprisingly though, and maybe even more importantly long-term than acquiring Karlsson, the Penguins were able to move some poor contracts out from the Ron Hextall era, including Granlund, Rutta, Casey DeSmith ($1.8MM), and Jeff Petry ($4.69MM – 25% retained). New General Manager Kyle Dubas was able to add a $10MM player in Karlsson, while also creating $3MM of cap space in the same deal, a feat that has been largely difficult for most teams in the salary cap era.

Now that the complete trade is public and final, and knowing the perspectives of all three teams, who do you think ultimately won the Karlsson trade?

Karlsson Notes: Defense Market, Money Retention, Interested Teams

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A short time after the news broke of Erik Karlsson officially joining the Pittsburgh Penguins, news surfaced that defenseman Mathew Dumba and the Arizona Coyotes were expected to reach a one-year agreement. Cory Lavalette of the North State Journal thinks that with the Karlsson trade drama wrapped up, this might have unfrozen the slow-moving defenseman market this summer (Tweet Link). Lavalette surmised that the Carolina Hurricanes may now have a better market to move out one of their defensemen.

This view should be taken with a grain of salt, as Lavalette’s initial thought was in response to Elliotte Friedman announcing that the Coyotes and Dumba had come to an agreement. It may very well be true that the trade for Karlsson will lead to more defensemen being traded in the next couple of weeks, but given the vast differences in playstyle, and the unlikelihood that the Coyotes were one of the teams trying to acquire Karlsson, it would be difficult to draw any sort of correlation between these two moves.

However, in defense of Lavalette’s view, the Hurricanes do have a plethora of right-handed shooting defensemen, and with rumors earlier in the offseason indicating the team might be interested in moving on from defenseman Brett Pesce, the other team’s interested in Karlsson could consider Pesce a solid consolation prize. Even though their play styles are not similar, Pesce would largely be an improvement to any team’s right-hand side of their defensive core.

Other notes:

  • One of the more surprising aspects of the Karlsson trade this morning was the money retained by the San Jose Sharks in the deal. Most recent reporting indicated that the Sharks and a potential third team would have to retain at least $3.5MM (30.4%) of Karlsson’s contract in total to make the deal financially work for the Penguins. Instead, even though the Montreal Canadiens were involved in the deal as well, the only retention came from the Sharks at $1.5MM (13%) of Karlsson’s $11.5MM salary. A Sharks beat writer, Curtis Pashelka reported that a lot of retention scenarios were on the table, and Mike Grier made a point to get it as low as possible. This reasonably impacted the return for San Jose, but it was a solid part of the deal for the Sharks, nonetheless.
  • Also speaking to Grier about the Karlsson trade, Greg Wyshynski of ESPN reports there were actually two other teams down to the wire in the trade negotiations. For weeks now, all signs had pointed to Pittsburgh as the eventual landing spot for Karlsson, with the Hurricanes, Seattle Kraken, and Toronto Maple Leafs having noted interest as well. Grier would not indicate which teams specifically, but it is an interesting factoid at the very least.

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.

Penguins, Sharks Getting Closer To Erik Karlsson Trade

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With the window for the Pittsburgh Penguins to clear cap space via a buyout closing today, rumors around the team closing a deal that would bring all-world defenseman Erik Karlsson to Pennsylvania are continuing to heat up. The team is making a “legit attempt” to get a trade done today, Elliotte Friedman of Sportsnet says. Friedman expects a third team to be involved in the transaction to help facilitate any salary cap issues.

During a TV appearance on NHL Network earlier this week, Friedman said that “clarity” could come on a Karlsson trade as soon as this weekend. Considering the general reporting on Karlsson has focused significantly on the Penguins over the past few weeks, it’s beginning to seem like an eventuality that a deal will get done, even if the teams involved can’t iron out all the details today. Karlsson acknowledged that the Seattle Kraken and Toronto Maple Leafs were also in trade talks with San Jose last month. At the same time, the Carolina Hurricanes were widely believed to be in discussions to acquire this year’s Norris Trophy winner.

However, there’s still no indication of what the final trade will look like. Undoubtedly, it’ll become quite a complex deal with multiple salary cap-related maneuvers necessary. Even with winger Jake Guentzel projected to start the season on LTIR, CapFriendly projects the Penguins with just over $2.75MM in cap space, making it a tight fit for Pittsburgh even if they buy out Mikael Granlund today or move him to the Sharks in the final trade. San Jose has expressed unwillingness to retain significant salary in the deal, meaning Pittsburgh will likely have to pay an extra draft pick to a third team to retain additional cash, as Friedman alluded to today. The Penguins will also need to find the cap room to activate Guentzel about a month into the season when he’s slated to return.

Acquiring Karlsson would, at the moment, give Pittsburgh one of the most offensively potent right-side defenses in the league with Karlsson, Kris Letang and Jeff Petry. Petry is not expected to be involved in the pending trade, with previous reports indicating the Sharks are on his 15-team no-trade list. It’ll also be one of the most expensive right sides in the league, with Letang and Petry already costing a combined $12.35MM against the cap.

As a reminder, Karlsson is under contract for four more seasons at an $11.5MM cap hit. The Sharks and a third team are expected to retain at least a combined $3.5MM to bring Karlsson’s cap hit in Pittsburgh down to $8MM or less.

Pacific Notes: Karlsson, Kraken, Oilers

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Sharks defenseman Erik Karlsson has made it known he’d like to move to a team that has an eye on winning now.  But with four years left on his contract at a cap hit of $11.5MM, a trade is proving to be difficult to do.  In his latest piece for NBC Sports Bay Area, Sheng Peng examines another possibility for both sides, a mutual contract termination.  He’d be walking away from the remaining $39MM in salary but coming off a Norris Trophy-winning season, it stands to reason he could get a big chunk of that back over the next several seasons with a team that’s more of his choosing.  On the flip side, the Sharks wouldn’t get anything in return but would save a significant amount of cash that they’d otherwise be retaining to help facilitate a move.  It’s not the likeliest of options at this point but if a viable trade fails to materialize, perhaps it’s an option that is considered at some point.

More from the Pacific:

  • Seattle is one of the teams where the backup goalie is not yet set in stone for next season with veteran Chris Driedger set to battle the recently re-signed Joey Daccord for the spot. Geoff Baker of The Seattle Times suggests that the Kraken would be better off with Daccord in the second-string position from an organizational depth perspective since there’s much less of a risk of Driedger and his $3.5MM AAV being claimed than it is for Daccord and his $1.2MM price tag.  Daccord was the better of the two goalies with AHL Coachella Valley last season but Driedger’s NHL career numbers (2.45 GAA, .917 SV% in 65 games) are certainly better than Daccord’s (3.64 GAA, .884 SV% in 19 appearances).
  • Even with the salary cap expected to rise faster starting in 2024-25, it will certainly be difficult for the Oilers to keep both Connor McDavid and Leon Draisaitl in the fold. Postmedia’s David Staples posits that both middlemen – who could conceivably command the maximum 20% of the cap on their next contracts if they looked to get top dollar – might have to settle for something in the 14% range which, depending on how much the cap moves, could put their contracts both in the $12.5MM territory which is what McDavid is currently making.  Can a team with two deals at that price point still have enough depth to seriously contend?  That’s a question Edmonton certainly hopes they’ll have a chance to answer.  Draisaitl is signed for two more years while McDavid is under contract for three more seasons.

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