Per TSN’s Bob MacKenzie and The Athletic’s Pierre LeBrun, the San Jose Sharks have re-signed top defenseman — and would-be top Unrestricted Free Agent — Erik Karlsson to the maximum eight-year contract. While the contract details have not been released, the average annual value is expected to be around $11.5 million, making Karlsson the highest paid defender in the league and only the second active defender with an AAV over $11 million (after Drew Doughty, who signed an eight-year, $88 million contract with the Los Angeles Kings last year).
All signs are pointing to Erik Karlsson returning to SJ and re-signing with the Sharks, which would take the most prominent name off the 2019 UFA board.— Bob McKenzie (@TSNBobMcKenzie) June 17, 2019
Further to @TSNBobMcKenzie's report on Erik Karlsson, I'm told the deal is indeed done: 8 years max deal, north of $11 million per season... the Sharks with a huge move in keeping the superstar D from hitting the market.— Pierre LeBrun (@PierreVLeBrun) June 17, 2019
I would expect Karlsson’s AAV to come in at around $11.5M. https://t.co/RLLv1DoOg7— Bob McKenzie (@TSNBobMcKenzie) June 17, 2019
This re-signing finalizes the trade with the Ottawa Senators that first sent Karlsson to San Jose. The final caveat will send the San Jose’s second-round pick in 2021 to Ottawa. The trade also involved Dylan DeMelo, Chris Tierney, Rudolphs Balcers, Josh Norris, the Sharks’ 2020 first-round pick and a 2019 second-round pick. The Sharks also received prospect Francis Perron.
Karlsson played 53 regular season games and 19 playoff games with the Sharks in the 2018-19 season, sitting out part of the season with a nagging groin injury. He underwent surgery on his groin on May 31 and is expected to be ready for the start of the 2019-20 season.
Per CapFriendly, here are the terms of the deal, which includes a full no-movement clause:
Erik Karlsson #Sharks— CapFriendly (@CapFriendly) June 17, 2019
8 years / $11.5M AAV ($92M Total)
2019-20: $3.5M + $11M SB
2020-21: $2M + $10M SB
2021-22: $5.5M + $9M SB
2022-23: $2M + $10M SB
2023-24: $10.5M + $1M SB
2024-25: $10M + $1M SB
2025-26: $4M + $5M SB
2026-27: $1.5M + $6M SB
Full NMChttps://t.co/PqJahZZLc1 pic.twitter.com/Fgu9Powq2F