San Jose Trades Erik Karlsson to Pittsburgh

Shortly after the end of San Jose’s season, superstar defenseman Erik Karlsson made it known that he wished to be traded to another team in order to maximize his chances of winning his first-ever Stanley Cup in the twilight of his career. General Manager Mike Grier made it known that while he was happy to accommodate such a request, it would have to happen in a way that was mutually beneficial for both San Jose and the Norris Trophy winner.

A few months later, Grier appears to have found a way to do just that, shipping Karlsson and a 2024 third rounder to Pittsburgh in a three-team deal with Montreal and receiving Mike Hoffman, Mikael Granlund, Jan Ruuta, and a 2024 top-10 protected first rounder in return. San Jose also retained $1.5M on Karlsson’s contract, which had four years left to run at a cap hit of $11.5M, and sent forward prospect Dillon Hamaliuk to Montreal.

While the return may seem a bit light for a defenseman of Karlsson’s calibre, the combination of his age, injury history, and albatross of a contract meant that San Jose could never have expected much in return, especially given the organization’s unwillingness to retain significant salary on the 33-year-old defenseman’s contract. Most league insiders felt that the Sharks would need to bend significantly on the retention front, and Sharks beat writer Sheng Peng had even speculated that a mutual termination might be in the team’s best interest, especially given the lack of buyers on the market.

Given this, the trade today is likely to be seen by many around the league as a win for all sides. San Jose instantly rids itself of the vast majority of Karlsson’s contract, gets a first-rounder and becomes significantly worse on the ice, allowing the franchise to obtain a better draft position in 2024. Moreover, in Hoffman, Ruuta and Granlund, San Jose receives some veteran depth pieces that may become flippable at the deadline in exchange for more draft picks, especially if any of the three enjoy any type of rebound by getting more playing time on a rather shallow Sharks roster.

Meanwhile, in exchange for taking on the bulk of Karlsson’s contract, Pittsburgh gets arguably the best defenseman in the league without giving up much immediate value in return. Lastly, by playing facilitator, Montreal receives a draft pick to help it along in its rebuild while acquiring a few potentially-flippable depth pieces that don’t compromise the team’s ability to tank.

While Hoffman was once among the best forwards in the league, the veteran is no longer the force he once was, with the 33-year-old forward putting up just 34 points in 70 games for Montreal this season. It would be a surprise if Hoffman were to be in San Jose beyond this season, however — his deal has just one year left to run on it at $4.5 million, and even a repeat of last year’s production would likely see the forward traded at the deadline for more draft capital.

The 31-year-old Granlund, however, represents a more promising offensive option for the Sharks, with the Finnish center just one season removed from a 64-point season with Nashville. Granlund remains an excellent passer of the puck and would be a valuable second or third line option for the Sharks, with his passing ability potentially elevating offensively-oriented players like Filip Zadina and Kevin Labanc, both of whom will be searching for a rebound in form this year. Granlund’s contract has two years left on it at a cap hit of $5M, meaning that the deal will almost certainly not hinder San Jose’s next playoff push (which is more than can be said about Karlsson’s contract).

Lastly, while Jan Ruuta will likely be a depth defenseman for the team, his real value lies in his serviceable play that comes at an extremely affordable cost, with just two years left to run on his contract at a $2.8M cap hit. This may make the 33-year-old very valuable at the trade deadline, with many contending teams likely to be in need of a veteran defensive defenseman with a minimal financial hit.

Karlsson’s tenure with the Sharks never really lived up to expectations — although his play last year was nothing short of spectacular, the team only made the playoffs with him once in 2019, and he spent significant portions of his time in San Jose recovering from a variety of injuries. The pieces sent to Ottawa, meanwhile, get more painful for Sharks fans by the day, with Tim Stutzle looking like a bonafide superstar winger and Josh Norris set to anchor the Senators’ top line for years to come. By trading the aging Karlsson, San Jose frees itself from a deal that could become a massive problem for the Sharks three years down the line, when they look to become more competitive.

But there’s a certain beauty to hockey as well, and it’s hard to argue that Karlsson didn’t bring it for the Sharks when healthy. When healthy, the Swede did things that nobody thought possible from a defenseman, and in his 101-point, Norris Trophy-winning 2022-23 season, Karlsson reminded the league of just how good he was.

There’s just a sense of irony in the fact that his legendary season was what enabled Karlsson to exit San Jose for a contender, especially considering that the Sharks had acquired him years ago hoping he would take them from contender to champions.