San Jose Sharks

The San Jose Sharks are trading star defenseman Erik Karlsson to the Pittsburgh Penguins.

WE HAVE BIG TRADE NEWS TO ANNOUNCE 🚨

The Penguins have acquired defenseman Erik Karlsson, forward Rem Pitlick, forward Dillon Hamaliuk and a 2026 third-round draft pick in a three-team trade involving the San Jose Sharks and Montreal Canadiens.

— Pittsburgh Penguins (@penguins) August 6, 2023

Daily Faceoff's Frank Seravalli first reported the trade, while Sportsnet's Elliotte Friedman first noted a third team could be roped in to help the Sharks and Penguins maneuver around the salary cap. Karlsson carries an $11.5 million cap hit for 2023-24, while Pittsburgh is projected to be $3.2 million over the cap.

As part of the deal, San Jose will pay $1.5 million of Karlsson's salary annually, while Pittsburgh is on the hook for around $1.6 million per year with Petry.

Acquiring Karlsson is an aggressive move for the Penguins, who missed the playoffs altogether after suffering what in effect were four straight first-round exits. They failed to advance out of the qualifying round in the 2020 postseason's expanded format.

This ends what has been more than a month of reporting and speculation.

After the 2023 NHL draft came and went with Karlsson still on the Sharks, The Athletic's Josh Yohe reported on July 6 that Pittsburgh general manager Kyle Dubas "remains intrigued by the idea of adding Karlsson."

Going from Petry to Karlsson is a massive upgrade. The latter is coming off a year in which he registered 101 points (25 goals, 76 assists) and collected the Norris Trophy.

The Penguins now have two of the league's 10 best defensemen between Karlsson and Kris Letang. When you include longtime stalwarts Sidney Crosby, Evgeni Malkin and Jake Guentzel, you have the foundation for an electric attack.

Erik Karlsson is one of the absolute best offensive defensemen in the league coming off a career year. Major get for the Penguins that should put them back on the inside track for a playoff spot. pic.twitter.com/9lxJrZUscB

— dom 📈 (@domluszczyszyn) August 6, 2023

There was no realistic scenario in which Pittsburgh could make itself the Stanley Cup favorite for 2023-24.

But the Karlsson trade gives the team better than a puncher's chance of winning at least one more title with Crosby and Malkin. That's about all you can ask of the front office at this point even if the pursuit of a championship is ultimately unsuccessful.

In one trade, Kyle Dubas jettisoned all of Pittsburghs fat, a first and second round pick, and got back last years Norris Trophy winner and one of the best offensive defensemen in the modern era of hockey. That’s wild.

— Jesse Marshall (@jmarshfof) August 6, 2023

The reception toward Sharks general manager Mike Grier is bound to be more mixed.

Karlsson's contract will only get more unwieldy as it winds toward its conclusion in 2027. A 2024 first-round pick and payroll flexibility helps set the table for the future.

Still, fans might feel underwhelmed when San Jose was already viewed by many as getting less than full value from the Brent Burns trade last summer.

What exactly did San Jose get for the Norris Trophy winner? Not much for GM Mike Grier to show his SJ Sharks fans. Anybody see this differently?

— Steve Simmons (@simmonssteve) August 6, 2023

One thing Karlsson's departure accomplishes is solidifying the Sharks' position as one of the NHL's worst teams as Grier continues their rebuild.

The Pittsburgh Penguins became the latest team to check in on 2023 Norris Trophy winner Erik Karlsson of the San Jose Sharks, reported Josh Yohe of The Athletic.

Ultimately, they deemed the asking price to be too high, especially after new general manager Kyle Dubas went on a spending spree at the start of free agency, signing Tristan Jarry, Lars Eller and Ryan Graves for a total of $58.775 million.

Even with the Penguins seemingly out of the running, the star defenseman remains at the center of trade interest this offseason.

Toronto, Carolina and Seattle have all been linked to the 33-year-old, but none have been able to get a deal in place to acquire the league's best defender, thanks to the Sharks' desire to receive fair compensation in return.

Oh, and the desire by potential trade partners for San Jose to take on more of the star's $11.5 million contract, as reported by Daily Faceoff's Frank Seravalli on SportsNet's Canucks Central podcast.

The team has reportedly agreed to take on 20 percent, which would leave Karlsson's contract at $9.2 million. For cap-strapped teams that can afford a contract that is more in the $8 million, that additional 10 percent is huge.

Sharks general manager Mike Grier has already denounced the idea of retaining the up-to 50-percent that the team is allowed to retain, telling the media before the draft, "We're not just going to, people think we're gonna eat 50 percent of his contract, it's probably not going to happen."

To even nudge the Sharks higher than 20 percent, the trade partner will likely have to put together a package that wows San Jose brass. "The more they retain, the better the deal has to be," Elliott Friedman said on the 32 Thoughts podcast.

Especially as Sharks owner Hasso Plattner takes on a greater role in the deal, as Friedman revealed has been the case.

The Sharks may be playing hardball in regards to the Karlsson deal but that is their prerogative and more importantly, they should absolutely get value in return for him.

Karlsson is coming off the best season of his career, with highs in goals, assists, points and shooting percentage. He was a force on defense but also, an asset offensively. There is a reason playoff contenders are coveting him and if they hope to have the defenseman on their team while in pursuit of the Stanley Cup, they have to pay up.

San Jose was at the bottom of the league in attendance in 2022-23 (excluding Arizona and their 5,000-seat arena) according to Sports Business Journal, drawing an average of 13,988 and just 76-percent of its capacity.

Losing a genuine star like Karlsson will hurt the team's ability to draw. Recouping another star or a handful of young prospects who the team can turn into stars will be key in making any deal.

If another team is going to benefit from Karlsson and potentially win the most prestigious prize in the sport, all while the Sharks are expected to take on anywhere from 20-30 percent of his deal, the return must be fair and San Jose is every bit in the right for dragging it's feet until it is.

San Jose Sharks defenseman Erik Karlsson has been named the recipient of the 2022-23 Norris Trophy as the NHL's best defenseman

That's a three-peat‼️

For the third time, the James Norris Memorial Trophy for the League's top defensemen goes to @ErikKarlsson65! #NHLAwards pic.twitter.com/PLWeTWzKgx

— NHL (@NHL) June 27, 2023

Karlsson beat out New York Rangers defenseman Adam Fox and Colorado Avalanche defenseman Cale Makar for the honor.

How Erik Karlsson of the @SanJoseSharks won the Norris pic.twitter.com/o932Q14PJ0

— Greg Wyshynski (@wyshynski) June 27, 2023

The 33-year-old, who was a finalist for the award for the fifth time in his career, is now a three-time winner of the trophy, having also won it in 2012 and 2015 as a member of the Ottawa Senators.

Karlsson put together the best statistical season of his career in 2022-23, tallying 25 goals and 76 assists for 101 points in 82 games. He became just the sixth defenseman in NHL history to record 100 points in a season and the first since Brian Leetch did so with the Rangers in 1991-92.

While the Swede had an unforgettable year individually, the Sharks were a disappointment, finishing seventh in the Pacific Division with a 22-44-16 record.

With San Jose's inability to truly be a Stanley Cup contender, Karlsson is now being included in trade rumors this summer. However, his contract will be difficult to move as he is locked up through the 2026-27 season with an annual salary worth $11.5 million.

Regardless if Karlsson is moved, he's expected to put together another big season in 2023-24.

Erik Karlsson and the San Jose Sharks are ready to move on from each other, with both sides working to find a trade partner for the veteran defenceman, TSN reported, and there are few better suitors right now than the Seattle Kraken.

The team made its first playoff appearance in just its second year of existence, advancing to the Western Conference Semifinal, where it ultimately lost to the Dallas Stars. The team has solid pieces that can shape its future but is lacking that one star veteran who can be the difference maker and push the team to the next round.

Coming off a career year, Karlsson can be that guy.

The 33-year-old set highs in goals (25), assists (a league-leading 76), points (101) and shooting percentage (12) this past season. He also played 82 games for the first time since 2015-16. Healthy for the first time in nearly eight seasons, he proved he is still an impact player in the league and someone who can be the catalyst for a championship run.

Karlsson wants to play for a contender.

"I will never sway from that. I want to win. And I think as you get older and you've been around for a longer time, you realize that it's not as easy as it looks, and you've got to hit it right at the right time," he told the Got Yer Back podcast.

Seattle is that and more importantly, a contender with the equity to make a hypothetical trade with the Sharks a reality.

They have the cap space ($20,343,424 per Spotrac) and draft picks (three second-rounders in 2023) to make a deal happen. That is something that the Edmonton Oilers and Florida Panthers, two teams who could also benefit from a player of Karlsson's magnitude in their pursuit of the Stanley Cup.

Karlsson provides the blue line help that the Kraken are missing and veteran presence on the defensive side of the puck.

The team allowed just over three goals against this season, something it will have to shore up if it hopes to reach the next round of playoff competition and realistically compete for a championship.

While he is not an instant fix, what he brings to the table in experience and leadership, as well as offensively as we saw this past season, makes him one of the most coveted trade targets this offseason and a piece Seattle absolutely must make a run at to ensure that 2022-23 was the start of consistent playoff berths and championship pushes.

Veteran forward Nick Bonino is heading back to the Pittsburgh Penguins ahead of Friday's NHL trade deadline.

Josh Yohe of The Athletic was the first to report that the San Jose Sharks had agreed to send Bonino back to the Pens on Friday, and TSN's Pierre LeBrun reported that the Sharks are receiving a fifth- and seventh-round pick in return.

Per Sportsnet, the Montreal Canadiens were also involved in the deal, making it a three-team trade. In addition to San Jose receiving a 2023 seventh-rounder and 2024 fifth-rounder from the Penguins, it landed defenseman Arvid Henrikson from the Habs.

Meanwhile, the Canadiens secured defenseman Tony Sund and a 2024 fifth-round pick from the Sharks.

Bonino, 34, spent the 2015-16 and 2016-17 seasons in Pittsburgh, winning a pair of Stanley Cups.

This season, which is Bonino's 14th in the NHL, he has recorded 10 goals and nine assists for 19 points in 59 games while also posting a minus-six rating.

For his career, Bonino has registered 158 goals and 195 assists for 353 points in 820 games, enjoying stops with the Anaheim Ducks, Vancouver Canucks, Penguins, Nashville Predators, Minnesota Wild and Sharks.

He has been a third- or fourth-line player for most of his career, playing a defensively responsible game and chipping in double-digit goals on nine occasions, including each of the past seven seasons.

Bonino's two years in Pittsburgh were among the most productive of his career, particularly in the playoffs.

During the Penguins' run to a Stanley Cup in 2016, he was among Pittsburgh's best players, racking up an impressive 18 points in 24 games. He added seven points in 21 playoff games the following season.

Also, in 2016-17, Bonino had 18 goals, which was the second-highest mark of his career, and 37 points, which was his third-best total.

Now that Bonino is set to rejoin the Penguins six years later, a level of familiarity still exists.

Many of the complementary pieces have changed; however, forwards Sidney Crosby and Evgeni Malkin and defenseman Kris Letang remain the Penguins' core, just as they were during the Cup runs.

The Penguins are not considered a top Cup contender like they were then, but they are in the thick of the playoff hunt, holding the top wild-card spot in the Eastern Conference with 71 points.

Since Pittsburgh's window of opportunity to win a Cup is likely closing with Crosby and Malkin getting older, the team has been active leading up to the deadline.

Prior to the Bonino trade, the Penguins acquired winger Mikael Granlund from the Predators for a second-round pick Wednesday, meaning the Pens are loading up on plenty of forward depth for the stretch run.

The 2023 trading deadline has been one full of blockbuster moves. None measure up to the one the San Jose Sharks and New Jersey Devils pulled off on Sunday night.

6:00pm - we have officially made a trade pic.twitter.com/m3DbRYmHeE

— San Jose Sharks (@SanJoseSharks) February 27, 2023

This trade will singlehandedly change the course of both teams' directions for years to come. Let's get right to breaking down the trade for both sides.

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New Jersey Devils

Ignore all of the other players included in this trade, who were added purely to even out the number of players exchanged. This is all about Timo Meier.

Meier is a complete player. Primarily, he is a goal scorer. The Swiss winger ranks 16th among all NHL forwards by goals scored (66) since 2021-22.

As InStat's map shows, Meier is a threat to score from anywhere in the offensive zone.

From distance, Meier beats goaltenders both from a quick catch-and-release shot or by loading up his legs and slinging it past goaltenders.

He is a bulky 220 pounds for his 6'1" frame and he uses it well. On the rush, Meier is a great skater. Once he adds the size, defenders have a tough time stopping him. He lowers his shoulder and drives towards the net. From there, his silky hands are enough to beat the goaltender from in-tight. Meier also uses the size and hands combination around the net front during controlled possessions in the offensive zones, getting into traffic for deflections or finding space to pop into and receive a pass for tap-ins.

Meier is a capable passer as well and that has been enough to make him a near-point-per-game player; he's tallied 128 points in 134 games since the 2021-22 season.

He is a major contributor prior to the actual goal production. He is like a freight train when carrying through the neutral zone, yet also has the stickhandling ability to move laterally with the puck and weave through bodies. With his size, he is an asset in cycling the puck along the walls. He gets into the zone following dump-ins and pressures the defenseman, forcing misplays of the puck.

The Devils are acquiring one of the 15-best wingers in the NHL, and that may be underselling him. As good as the Newark-based team was, a top-line winger was sorely missing. There is a reason general manager Tom Fitzgerald attempted to sign Johnny Gaudreau over the summer. And while he did land Ondřej Palát, the former Lightning forward has only 14 points in 27 games in New Jersey and ideally sits lower on the depth chart. If and when the Devils face the elite wing combinations owned by teams such as the Rangers, Maple Leafs, and Boston Bruins, the likes of Jesper Bratt and Yegor Sharangovich would have paled in comparison.

Whether head coach Lindy Ruff deploys Meier with Swiss friend Nico Hischier or Jack Hughes, he'll instantly become a major upgrade and the best winger on the team.

The best part for the Devils? Meier is just 26 years old and will be a restricted free agent in the summer. The two sides have not agreed to a contract extension yet and the $10M qualifying offer he is due complicates the situation, but one would imagine that the Devils don't make the deal if they aren't confident that Meier has mutual interest in staying in New Jersey. Meier is not just a major addition for a Stanley Cup run this season but should be a foundational piece of the franchise for the next five-plus years.

The Devils did give up an assortment of assets—more on that later—but the pieces they moved are more than worth it. This would be true for any team, but it's particularly true for the Devils. No key players or prospects went to San Jose. The most notable is defenseman Shakir Mukhamadullin, whom the team drafted 20th overall in 2020. While he is a good prospect, the Devils' future on defense is loaded with better options including Šimon Nemec, Luke Hughes, and Seamus Casey. His loss will not remotely affect the team's ability to build a defense for the next decade. With one of the top prospect pools in the league, the Devils can absorb the loss of the two first-round picks.

The only knock on this deal for the Devils is that the trade comes without the framework for a long-term extension to Meier completed. Until proven otherwise, there is no reason to panic about that. This is an unequivocal win for the Devils.

Grade: A

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San Jose Sharks

Let's first offer some sympathy to Sharks general manager Mike Grier. The first-year GM inherited a bad team with no realistic pathway to a quick turnaround. Meier might be young based on the Devils' timeline, but Meier may be on the wrong side of 30 by the time Grier has San Jose ready to contend.

And that's assuming an unlikely scenario in which Meier, set to be an unrestricted free agent in 2024, would have willingly re-signed in San Jose.

He had a top player to offer around the league but the $10M qualifying offer he will be due in the summer complicates matters. Were Meier to accept that offer, he'd be on an expensive cap hit for just one season before he could walk away for free in July 2024.

Grier had little choice but to move his team's top player in sub-optimal circumstances. He found a trading partner in New Jersey and brought various assets to his franchise.

The meaningful NHLer included is Fabian Zetterlund. The 23-year-old winger has accumulated nine goals and 19 assists in 59 NHL games since 2021-22. Those are solid numbers for a player who has averaged roughly 13 minutes of ice time per game. But the Swede's forte is on the defensive side of the puck. He's a cerebral player who makes all of the right decisions in the neutral and defensive zones. Evolving Hockey's model puts him in the 70th percentile by his defensive impact this season. He'll have a nice career as a bottom-six winger.

Andreas Johnsson, also included in the deal, has played 248 NHL games but fell out of favor this season. The Devils placed him on waivers to start the season and, upon clearing, sent him down to the AHL. He has a history of bottom-six capability but, at 28 years old and an unrestricted free agent in July, he and his $3.4M cap hit were likely included as a financial consideration.

The top prospect in the deal, as previously noted, is Shakir Mukhamadullin. When the Devils drafted Mukhamadulin he was a projectable but raw prospect. He is 6'3" and a great skater in all four directions. At the time of the draft he had not shown much offensive prowess nor adequate hockey IQ. The Devils were banking on the idea that he'd figure that out with training and experience.

So far they have been correct, at least to an extent. The 21-year-old is averaging 17:23 in ice time for Salavat Yulaev of the KHL (per InStat) and has collected 25 points in 67 games. While his game has matured in some aspects the overall concerns remain. He is erratic with the puck. He doesn't process unfolding plays at a high pace. His success in arguably the world's second-best league is encouraging and the Sharks will be in position to give him a long rope when they bring him over to North America. Given his physical capabilities and the improvements made to his overall game, Mukhamadulin looks like a good bet to make the NHL at least as a third-pairing defenseman. He has the toolbox to rise higher up the depth chart, but he'll need a lot of guidance from the right coaching staff to get him there.

Scouts loved Nikita Okhotyuk a year ahead of the 2019 NHL draft. His stock cooled some but the Devils took him at the end of the second round.

Okhotyuk, 22, is a physical, hard-working defenseman. He is relentless physically. He sacrifices his body to block shots. He works hard every shift. The Russian has never fared well offensively at even the junior level, which usually is not a great sign even for a shutdown defenseman, but he does have the type of playing style to potentially buck the trend. He is calm, even if unimpressive, with the puck. The Devils gave him 15 NHL games over the past two seasons and the Sharks may choose to give him an NHL role immediately. Okhotyuk has a chance to become a depth defenseman who plays a tough game, kill penalty minutes, and earns the respect of his teammates.

The Sharks also receive a 2023 first-round pick and a conditional 2024 second-round pick; if the Devils make the Eastern Conference Final in either 2023 or 2024 then the draft pick will become the Devils' 2024 first-round pick.

It seems like Grier targeted quantity over quality in this trade. When one looks back at similar types of trades teams often land a top prospect. The Blue Jackets received Adam Boqvist plus two first-round picks in return for Seth Jones. The Canadiens milked Nick Suzuki from Vegas in the Max Pacioretty trade. That the Sharks move out a borderline elite NHL forward and don't receive so much as a top-100 NHL prospect in return is a major disappointment.

Statistically, the odds that the Devils do make the Eastern Conference Final aren't great, and if they do the Sharks will still land two very late first-round picks. Unless San Jose's scouting staff absolutely nails the draft, it looks very possible that Sharks do not come away with a single difference-maker from this trade.

The mess Grier inherited is in no way his fault, and Meier's contract situation didn't help matters, but his first major endeavor in charge of the Sharks leaves a lot to be desired.

Grade: C-