*Photo from NHLPA.com*
The big trade that was speculated about has finally happened. The Pittsburgh Penguins have acquired D Erik Karlsson in a 3 team trade with the San Jose Sharks and Montreal Canadiens, according to all 3 teams.
Pittsburgh acquires Karlsson with 13 percent salary retention from the Sharks along with forward Dillon Hamaliuk and a 2026 3rd round pick. The Penguins also got forward Rem Pitlick from the Canadiens. The Penguins now have a cap hit above the cap limit of $82.5 million.
San Jose GM Mike Grier said of the trade that "We've been going at it for a while trying to get this done. It's been a bit of a grind. Happy to get it done with. Having the cap flexibility and financial flexibility was really important for us moving forward. We want to thank Erik for his contributions in San Jose over the last four years and congratulate him on a remarkable and historic 2022-23 season."
The Sharks get forward Mike Hoffman from the Canadiens in the trade. From the Penguins, the Sharks get a top 10 protected first round pick in 2024, defenseman Jan Rutta, and forward Mikael Granlund. San Jose has a little over $79 million in cap, a few million under the limit.
Montreal doesn't get anything from San Jose in the trade. From the Penguins, they get goalie Casey DeSmith, defenseman Jeff Petry with 25 percent salary retention from Pittsburgh, forward Nathan Legare, and a 2025 second round pick. The Canadiens are still over the cap limit by more than $5 million.
Karlsson is halfway through his 8 year, $92 million contract. The 2023-2024 season will be the 5th year of the deal. He has a full no movement clause which he waived to go the Penguins, a $1 million signing bonus, and a $11.5 million AAV for all 8 years.
Last season was Karlsson's 5th year with the Sharks, winning his 3rd career Norris Trophy. He scored 25 goals and added 76 assists for 101 points, averaging 25:37 of ice time while posting a -26 rating in all 82 regular season games.
Karlsson has played in 14 seasons, split between the Sharks and the Ottawa Senators. He has 178 goals and 583 assists, posting a -103 rating while averaging 25:29 of ice time in 920 regular season games. He also has 8 goals and 45 assists in 67 playoff games.
Grier addressed trading Karlsson, saying that "While it is always difficult to trade a player of the caliber of Erik Karlsson, this trade accomplishes several goals for our franchise. It adds two forwards to our roster who have proven ability to produce offensively at the NHL level, and solidifies our NHL defense corps. Additionally, acquiring another first round pick gives us the opportunity to continue fortifying our development system with high-end prospects and provides us some financial flexibility to add players as we see fit in the future."
Pitlick is on the final season of a two year, $2.2 million contract. Last season with the Canadiens, he had 6 goals and 9 assists for 15 points, averaging 12:55 of ice time in 46 games. Hamaliuk had 7 points in 6 games with the ECHL Wichita Thunder last season.
Going to the Sharks is Granlund, who has two years and $10 million left on a 4 year, $20 million contract. Last season, he had 10 goals and 31 assists in 79 games between the Penguins and Nashville Predators. Rutta has two years at $2.75 million annually on his contract. Rutta had 3 goals and 6 assists in 56 games, averaging 17:07 of ice time.
Hoffman will provide another scoring option for the Sharks, on the final year of a 3 year, $13.5 million deal at $4.5 million annually. He had 14 goals and 20 assists over 15:40 of average ice time in 67 games for the Canadiens last season.
Asked about being traded, Hoffman said that "I'm really looking forward to the opportunity to play in San Jose. I can bring some offense and help the power play out, and bring a little veteran leadership as well. I don't think I really played up to what I'm capable of doing. I really believe in myself and my game and I think that I can contribute and have a lot to bring."
After being traded to the Penguins last year, Petry is going right back to Montreal one year later. He had 5 goals and 26 assists for the Penguins, averaging 22:21 of ice time with a +2 rating in 61 games. He has a $6.25 million cap hit and a 15 team no trade list.
DeSmith is on the final season of a two year, $3.6 million contract, set to be a free agent at the end of the 2023-2024 season. Last year, he had a 15-16-4 record with 16 quality starts, recording a 3.17 GAA and .905 save percentage in 33 starts and 38 games.
Legare was a 3rd round pick of the Penguins in the 2019 NHL draft out of Baie-Comeau Drakkar of the QMJHL. With AHL Wilkes-Barre last season, Legare had 19 points in 68 games for the minor league Penguins.
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