Will Penguins Move Erik Karlsson?

The Pittsburgh Penguins and future Hall of Famer Erik Karlsson may be at the end of their relationship. The Pens made a big move two seasons ago to reel Karlsson in, in the hopes of reinvigorating a declining Cup contender. And although Karlsson hasn’t played poorly, he never reached his 100-point potential, nor did he grab the reins as the power play captain as hoped. The Pens are now in a full rebuild, and keeping Karlsson doesn’t make sense anymore. 

So, what can Pittsburgh and GM Kyle Dubas do?

Karlsson has two seasons left on his contract with a double-digit annual cap hit estimated at 10 million per season. He still has gas in the tank and can help a contender, but more than likely the Penguins will be asked to retain some of his salary. Pittsburgh has room under the cap to make provision for this, but the question will be which team will step up to obtain Karlsson’s services?

Here’s a list of five potential landing spots:

Ottawa Senators

Back to the future for Karlsson? A reuniting of the defenseman and the Ottawa Senators makes sense, and not just for the drama of his return. Ottawa is ready to make its run, and the Pens will expect picks and prospects in return. But the Sens will likely ask the Pens to retain a sizeable portion of Karlsson’s salary to make this manageable. 

Detroit Red Wings

The Red Wings desperately want to end their non-playoff streak, and Karlsson can help them with both locker room leadership and in the scoring column. The Wings have the cap space and enough young assets to move to interest the rebuilding Penguins. Rumors have swirled about the Wings getting out from under the Vladimir Tarasenko deal as part of the compensation, but Pittsburgh is looking to get younger or amass draft picks. The assets are there, but will Detroit pull the trigger? 

Carolina Hurricanes

Before the Pens stole Karlsson from the Sharks two summers ago, the Hurricanes were also in on a potential deal with San Jose but were left at the altar. Now two years on, the ‘Canes are still looking to add the crafty veteran to their roster before their Cup window closes. Carolina needs a right-side defenseman and might be willing to part with draft capital and or young prospects in return. 

Florida Panthers

Why would the two-time Stanley Cup champions need Erik Karlsson? 

Simple. The rich get richer here, and every team needs a right-side defenseman of Karlsson’s caliber. A deal with the Panthers and Pens will take some true salary cap retention on the Pens side, but Karlsson may waive his no-trade to play in South Florida for the reigning champs. 

Toronto Maple Leafs

The Leafs are apparently the fan favorite to land Karlsson’s services. Dubas has a reported interest in adding Morgan Rielly in return, but again, the Pens will need to retain at least half of Karlsson’s salary to make this deal work.

What makes a Karlsson deal work?

It’s been mentioned a few times here, but at the sake of being Captain Obvious, the Pens will need to retain a portion of Karlsson’s salary to make a trade palatable. Most outlets report that teams will only be interested in the move if Dubas and the Pens retain $3 to 5 million to bring Karlsson’s cap hit down. 

Secondly, Karlsson would have to waive his no-movement clause. Any potential move will require Karlsson’s nod, which may complicate the deal. Karlsson has said that if a deal were presented, he wants to play for a contender, so that may hamstring the deal in the end by limited the potential destinations. 

And of course, what do the Pens expect in return? As much as Dubas may want to amass high-end draft capital, some teams may want to part with an NHL-ready prospect and later-round picks instead. Will Dubas agree to this? That remains to be seen, but it will be a determining factor. 

Given Karlsson’s cap hit, age, and defensive liabilities, any trade favorite is unclear just yet. But if a move is consummated, Draft Nation bets it will be teams like Detroit, Ottawa, Florida, Carolina, and Toronto casting their dice to win his services.