Erik Karlsson’s name continues to come up in trade rumors. The offensive defenseman's time in Pittsburgh has not gone as the Penguins hoped it would. The Penguins need to rebuild, and his expensive contract is a roadblock to their plans. Trading Karlsson would be difficult for multiple reasons, including his contract, his age and his full no-movement clause. But if they could, a team source told The Athletic's Josh Yohe that genearl manager Kyle Dubas would trade Karlsson "in a heartbeat."
After this season, Karlsson still has two years remaining on his contract. The Penguins are paying $10 million of his salary this season, as the San Jose Sharks retained $1.5 million. With how his contract is structured, though, his salary is less in 2025-6 and 2026-7, so the remaining contract may not feel as daunting to interested teams. Still, the Penguins would likely have to retain some salary.
A major hurdle is that Karlsson would have to waive his no-movement clause. He ultimately has the power to decide if he goes somewhere or not. Karlsson said he has not been approached but is prepared to give his answer if he is. With how bad the Penguins are, Karlsson might want to accept a trade.
With the NHL trade deadline quickly approaching on March 7, will the Penguins be able to move Karlsson? Here are three teams that might be desperate enough to trade for him.
3. Columbus Blue Jackets
A team that makes sense to go for Karlsson is the Columbus Blue Jackets. They are in playoff contention in the Eastern Conference standings, which was unexpected at the beginning of the season. Columbus has almost $19 million in cap space. They’re in a position to be buyers. A forward might be a more pressing need since they could use some scoring depth, but Karlsson’s ability to tally up points is intriguing.
Defenseman Ivan Provorov has yet to be extended, so he’s currently headed toward free agency this summer. Provorov will be looking for a lengthy new contract. Depending on progress there, Columbus could want a right-shot defenseman who would be around past this season.
In the thick of the battle for a playoff spot, would the Blue Jackets make a bold move? And could they realistically pull this off? It could be tough to convince Karlsson to waive the no-movement clause to go to Columbus. Although they have a shot at the Stanley Cup Playoffs, they’re not considered a Cup contender. At 34-years-old, Karlsson has yet to win the Cup. He’s more likely to waive to join a team with a better chance of achieving a championship.
2. Detroit Red Wings
The Detroit Red Wings are suffering a long playoff drought, having missed the playoffs every year since the 2016-2017 season. They’re in playoff contention in the Eastern Conference after falling just short last year. That being said, the Red Wings are in a position to be buyers. Although every team wants to win the Stanley Cup, Detroit’s more immediate goal is to get back to the playoffs and continue building toward a group that can contend in the future.
The Red Wings could use a defenseman. If they decide to go in on one, someone of Karlsson’s caliber could be a fit. Cap space is not a problem. They could take on his contract without needing Pittsburgh to retain any, although it would still be wise to negotiate them retaining some.
Much like the Blue Jackets, the Red Wings are a bubble playoff team, not a true Cup contender. This would be a consideration for Karlsson when deciding whether or not to waive his no-movement clause. Playing in Detroit would get him closer to the Cup than he is in Pittsburgh, but is it close enough? Karlsson would have the final say.
1. Carolina Hurricanes
The Carolina Hurricanes could make a move for Karlsson. Currently in second place in the Metropolitan Division, the Hurricanes are gearing up to make a playoff run. They’re all in on trying to make a run, as shown by their acquisition of Mikko Rantanen. The Canes are not afraid to make a big, bold move.
Since Karlsson has two years left on his contract, this is not a rental situation. Although the priority is this season, the Hurricanes should also look ahead. Adding Karlsson would be some reassurance for their defense group, especially with Dmitry Orlov and Brent Burns being slated to become UFAs this summer.
Cap space would be a challenge for the Hurricanes. That’s not to say it’s impossible, but the Penguins would have to be willing to retain a good chunk of salary. The Hurricanes would have to do some maneuvering, but it may be worth pulling the trigger if they can figure it. Out of the three teams listed, the Canes are the closest to being a championship caliber team. If they come calling, Karlsson might be willing to waive his no-movement clause.
If a team tries to make a trade with the Penguins, it all comes down to what Karlsson decides. At this point, it seems more likely the Penguins will revisit a potential move in the offseason, but anything can happen before the trade deadline.