NHL Rumor Mill – April 21, 2025
Will the Penguins trade Erik Karlsson during the offseason? What’s next for the Ducks after firing their head coach? Find out in today’s NHL Rumor Mill.
WILL THE PENGUINS TRADE ERIK KARLSSON?
THE ATHLETIC: Josh Yohe believes Pittsburgh Penguins general manager Kyle Dubas should do himself a favor and trade Erik Karlsson this summer.
Acquiring the three-time Norris Trophy winner two years ago was a worthy experiment, but it’s clear that it has failed. He costs too much against their salary cap, his defensive play has been notoriously bad, he’s been ineffective on the power play, and his laid-back personality isn’t what they need.
Pittsburgh Penguins defenseman Erik Karlsson (NHL Images)
Yohe cites multiple league sources claiming some teams might be intrigued if Dubas retained a portion (maybe $2.5 million) of his $10 million cap hit. Despite the flaws in Karlsson’s game with the Penguins, he would have more value in the trade market than the struggling Ryan Graves or the aging Kris Letang.
PITTSBURGH HOCKEY NOW: Dan Kingerski believes Karlsson is frustrated over the Penguins’ underachieving in the last two seasons. He will soon turn 35 and carries a salary-cap hit just shy of $10 million with two years left on his contract.
Karlsson has been coy this season, never firmly stating he’s all in like Bryan Rust and Rickard Rakell. However, Kingerski noted that few suitors for Karlsson have emerged in the trade market. He’s doubtful that a deal could be found if the blueliner asks for a trade. Still, if the right situation comes along, a trade could be made.
TRIBLIVE.COM: Mark Madden believes the Penguins will trade Karlsson. He expects they’ll retain $3 million of his cap hit to facilitate the deal.
SPECTOR’S NOTE: Karlsson’s average annual value is $11.5 million, but the Penguins carry almost $10 million while the San Jose Sharks pay the rest.
Dubas will probably scour the trade market for a suitable trade partner for Karlsson. The Penguins will have to retain part of his AAV to make a deal happen, but at this stage, it’s better to move out most of it if it’ll result in moving him to another team.
A potential sticking point is Karlsson’s no-movement clause. His preference could be a playoff contender that plays a style best suited to his puck-moving skills.
THE LATEST DUCKS SPECULATION
THE ATHLETIC: Eric Stephens believes Anaheim Ducks general manager Pat Verbeek made a bold step by firing head coach Greg Cronin. Now, the onus is on Verbeek to deliver a winner.
Verbeek must find a new head coach but also make moves to give that bench boss a better roster. The Ducks have plenty of promising young talent, but they were inconsistent and defensively deficient, relying too heavily on their goaltending.
The Ducks will have almost $39 million in salary-cap space next season, giving them financial muscle to flex this offseason. Verbeek was rebuffed in his efforts to land Steven Stamkos and Jonathan Marchessault last summer, but Stephens expects he’ll go big-game hunting again this year.
SPECTOR’S NOTE: Mitch Marner could be the biggest name in this summer’s free-agent market if he doesn’t re-sign with the Toronto Maple Leafs. Stephens said it isn’t clear if the 28-year-old two-way winger would be a target.
The Ducks could afford to make Marner one of the NHL’s highest-paid players. The question is, would he want to join a promising but unproven young team? Otherwise, Verbeek might have to turn to the trade market for an impact player.
No matter how hard I try, I just can’t seem to picture MM in a ducks uniform.
Can you picture Mitch in a Habs jersey?
Not really, but easier to do than the Ducks uniform image.
Would look good in spoked B
An $11.5MM/year defenseman who plays bad defense? I’m glad Doug MacLean isn’t the Jackets GM. That’s just the kind of player he’d trade for and probably give up Marchenko to get him.
Re:
“Josh Yohe believes Pittsburgh Penguins general manager Kyle Dubas should do himself a favor and trade Erik Karlsson this summer.”
Do HIMSELF a favor?
He’d be doing everybody associated with Penguins a favor
No Nickel and dime stuff with $3M retained
Pens won’t need the extra $2M in Cap
Pay him his SB on July 1st and retain 1/2 the remaining; get maximum return
Way more teams looking at him at $5M Cap hit than $7M Cap hit
If a team has $7M or so in space; retain 1/2 on Karllsson and insist on Accari or Hayes joining him on his flight out
Karllsson @ $7M might have 1, maybe 2 bidders, with a crappy return
The Blues added a 2nd round pick to get rid of Hayes. Trading Acciari saves 2 million in cap space, but is it really necessary? Pens have 23+ million in cap space this summer and Hayes and Accari come off the books next summer. As History has shown, to get Hayes off the Books its going to cost a 2nd, unless you retain, but why would the Pens throw away draft picks like that? The Pens prospect pool is still in the bottom 10 of the league.
No one is going to give anything worth a crap for EK. Dubas took a chance and while EK continues to regress, Dubas did manage to move out 4 contracts that where not working out in Pitt.
IMO Pitt needs to continue to rebuild, use their draft picks to rebuild their pipeline, play the younger players, and dont spend a thing in UFA. Grab another top 10 pick next year and maybe spend on UFA next summer.
Hi Brian
It does matter (ridding Hayes and/or Accari off from f Roster)
Playing either is a detriment to success
If Sullivan stays (hoping not); he’ll play them
You are correct with 2nd rounder (not near enough IMHO) for sweetener to take on the Albatross contract of 2 years with Hayes
Now only 1 year left ; and after signing bonus paid; Pens $ commitment is just $2M
Re “No one is going to give anything worth a crap for EK.”
Absolutely 100% correct with EK at a$10 M Cap hit
1 maybe 2 teams would give a crap at a $7 M Cap hit
But, after July 1st (when his signing bonus is paid);
Pen’s cash commitment then for final 2 years is just $10 M total for then remaining 2 years
So a 50% retention of Pens share; post July 1st; has a team picking up EK for a $5M Cap hit and just $2.5 M cash each year (this split between years is different but total $5M for total 2 years)
EK , under those parameters, would have a good few interested parties
That deal should bring in a young NHLer (with good future projections) AND a prospect that should play in the NHL in 25/26
Re Hayes….Dubas was given a 2nd to eat $5.25 M and suffer through 2 years of sloth skating 100’ games from him
So with only $2 M cash still owed; take a 3rd and move him; or add him to EK (at a further 50% retained) and just get a young NHLer (under contract) back
That team has only a total outlay of only $7M cash; gets EK for 2 years (at Cap hit of just $5 M) ; and can either have Hayes in the press box or bury him in the AHL
Dubas can then bury Accari (so only $850 K shows in actual Cap)
Aside from all the ins/outs above; EK at a further 50% retained; is the way to go
I’d also love to see Dubas do an offer sheet (or 2)
Doubt this could happen but, if rangers could get Panarin to waive nmc, Ducks have the cap space. Entering last year of deal and still playing at a high level. Rangers have an overload of young left wingers. Panarin for a good young dman and/or Zegras. Reunite with Strome.
Breadman (retain $4M) for Dobson
That way he is still in NYC.
In all honesty, Panarin first came into the league with Chicago. I could see him waiving to go to Chicago & go play with Bedard. Chicago should absolutely try to get Panarin back to build a top line, they have enough picks & young players to do so.Chicago is probably the best option for a deal with Panarin to getting done.
Who was running Hawks when they traded Panarin? I’d say Florida if they had any cap space. Again. Not sure he wants to go anywhere or if team wants to part ways.
Scooby Dubas was the only person on earth that didnt know trading for Karlsson was a massive mistake.
Getting Karllson at the time was not necessarily in and of itself; a bad move
What was a bad move was taking him at $10 M Cap hit; AND giving up so much to take that contract
ZERO people not named Kyle Dubas would have ever been that stupid to make the deal
He should have paid much less; taken EK at a much lower Cap hit; by dumping much less crap (at the time) on Grier
Very bad move then
Waaaaay worse move now in retrospect
As the deal included all the elements you list, 8787, how can it not be a bad deal which ever way you look at it?
Hi LJ
It was a bad deal
B A D deal
It was a 12 asset deal with 2 retentions:
Pens got:
Karlsson @ $10 M Cap hit (Grier only retained $4.96 M in cash, and dumped $33.05 M on Pens
3rd (‘26)
Pitlick (who Dubas traded for a conditional 7 th in ‘26)
Hamiliuk (only got total of 8 games with WBS; and 36 with ECHL Wheeling)
So EK, 3rd, 7th, and huge Cap hit
Sharks got
1st
*Rutta
*Granlund
**Hoffman
Habs got
2nd
De Smith
Legere
Petry (Pens paid $4.9 M of his 23/24 and 24/25 Sal&SB)
*At the time, both were Albatross contracts and Grier inherited $16 M in cash commitments; with negative performance expectations (at the time) from both; and
**A reclamation forward
So Grier’s deal was:
Save $12 M in Cash; and get a 1st for a player no other team would take at $10 M cap hit
Pens deal
Increase cash outlay for next 4 years by $10 M
Receive a 33 year old D man at $10 M Cap hit; that will obviously never repeat his peak year
At a cost of
1st
2nd
2nd (Legare)
Pen’s back-up goaltender
The better way it should have been handled; don’t have a 3 way deal with Habs
Give Grier a 1st , accept Hoffman in deal, save Grier $20.2 M (instead of saving $12 M and having to dress 2 negatively performing (again, as at time of deal) plus s reclamation forward (on Sharks a bottom feeding team) that’s by Grier retaining 40%
Pens get EK at $6.9 M Cap hit
Buyout Granlund
Effective Cap hit (EK plus buyout)
$8.7 M
But still have Legere and De Smith and 2nd; still have Petry
And have a reclamation winger that would definitely play 3rd line and could move up to 2nd line in s pinch
Any one of actual deal parts (Legere OR De Smith OR 2nd) would easily have been enough to move Rutta to another team
Pens then get
EK at a lower effective Cap hit;
gain a winger good for 15 goals and maybe 20+ with change ov scenery
Retain 2 of 2nd, Legere, De Smith
And, as at right now, could have retained 50% of that $6.9 M Cap hit ; and got a very very good return back for EK
It was a failure deal to begin with and much much worse deal now
wheres the chat of Quinn saying he wants to play with his brothers sooner than later?
not sure Canucks have the assets to acquire Jack and Luke.
Devils sending Mercer, Nemec and a 1st is not enough….
Late to the convo, but I feel like an angle is missing. Did any ponder who Dubas could bring in to somehow extract his potential? Who is the player they need to get his full commitment to team?
I’m not a fan of EK., but apparently he’s good enough to garner that salary—to me, he’s 1 dimensional.