NHL Rumor Mill – December 14, 2023

by | Dec 14, 2023

NHL Rumor Mill – December 14, 2023

Are more changes in store for the Blues following their coaching change? What’s the latest Penguins speculation? Find out in today’s NHL Rumor Mill.

COULD MORE CHANGES BE IN STORE FOR THE BLUES

NHL NETWORK (via KUKLA’S KORNER): Sportsnet’s Elliotte Friedman looked at other possible moves for the St. Louis Blues following their coaching change.

He noted that general manager Doug Armstrong indicated in his press conference that there was no guarantee that interim head coach Drew Bannister would be in that role for the remainder of the season. Bannister was head coach of their AHL affiliate in Springfield before Berube’s firing.

St. Louis Blues general manager Doug Armstrong (NHL.com).

Friedman thinks Armstrong has “specific people he wants to talk to” regarding his club’s head-coaching position. He wondered if one of them could be former Edmonton Oilers bench boss Jay Woodcroft.

Asked if other personnel changes could be in store, he noted that Armstrong isn’t afraid to make bold moves. He pointed out the Blues had a deal in place last summer with the Philadelphia Flyers that would’ve sent defenseman Torey Krug to the Flyers for blueliner Travis Sanheim but Krug invoked his no-trade clause to spike the deal. He also observed that Armstrong tried to trade struggling winger Jakub Vrana before putting him on waivers.

Friedman doesn’t think Armstrong is trying to trade players such as Robert Thomas or Colton Parayko. However, he wouldn’t be surprised if the Blues GM could make some roster changes if things don’t improve soon.

THE ATHLETIC: Jeremy Rutherford noted Armstrong said making roster changes was difficult to achieve during his press conference on Wednesday. The Blues GM said he’s spoken to teams and seen what’s out there. Nevertheless, he stressed that nobody in their current group should feel safe right now. “I mean player-wise, management-wise.”

If the Blues fail to improve, Armstrong said he’s not against buying players out who carry long-term contracts with no-trade clauses, though he feels that’s not his first course of action. He’s also not against demoting players to the Blues’ AHL farm team if he feels they’re not pulling their weight. He said that nothing can be off the table for management.

SPECTOR’S NOTE: The Blues are just one point out of the final Western Conference wild-card spot. Big changes to the roster probably won’t happen as long as they remain competitive for a playoff berth. If they collapse and tumble down the standings, perhaps more significant moves will be in store.

Those Blues carrying long-term contracts with no-trade clauses include forwards Brayden Schenn and Brandon Saad, defensemen such as Krug, Parayko, Justin Faulk and Nick Leddy, and goaltender Jordan Binnington. Any attempt to move one or more of those players likely won’t happen until next summer at the earliest assuming any of them would waive their no-trade clauses.

LATEST ON THE PENGUINS

THE ATHLETIC: Pierre LeBrun noted Pittsburgh Penguins GM Kyle Dubas’ remarks on Monday about deciding on the club’s future by the All-Star break in February. He believes Dubas wants to give his current roster time to overcome their current woes in the standings and prove to him what they have.

Dubas is on a seven-year contract. LeBrun believes that gives him time to implement a long-term vision while hoping to avoid a roster teardown for as long as possible. He also suggested that Sidney Crosby’s contract (which runs through 2024-25) could be the most important target date for Dubas’ plans.

Given the contracts of Evgeni Malkin, Erik Karlsson and Kris Letang, it won’t be easy to stage a roster teardown. However, LeBrun points out that Dubas’ acquisition of Karlsson last summer shows where there’s a will there’s a way.

LeBrun doubts those players would block a trade to a contender if Dubas goes into teardown mode. The question then becomes how much salary would the Penguins have to retain to move them.

SPECTOR’S NOTE: The acquisition of Karlsson (and that of Reilly Smith) was to provide a short-term boost to the Penguins roster to give their core of Crosby, Malkin, Letang and Jake Guentzel one more opportunity to stage a run for the Stanley Cup before their contracts expire or age catches up with them.

If Crosby wants to stay in Pittsburgh it’ll be interesting to see how long he’ll want to stick around, especially if the Penguins are heading into a rebuild or if it appears to be on the horizon.

Dubas is just trying to put it off for as long as possible until most of those players are finished with their contracts or in the final year of their deals. By that point, the rebuild can begin in earnest.

A roster rebuild is inevitable. It could come much sooner than Dubas or the Penguins’ veteran core expected it to occur.










NHL Morning Coffee Headlines – September 29, 2023

by | Sep 29, 2023

NHL Morning Coffee Headlines – September 29, 2023

Lightning goalie Andrei Vasilevskiy is sidelined by back surgery, Connor Bedard makes his preseason debut with the Blackhawks as does Erik Karlsson with the Penguins, and more in today’s NHL Morning Coffee Headlines.

TAMPA BAY TIMES: Lightning goaltender Andrei Vasilevskiy is expected to miss the opening two months of the season following surgery to repair a herniated disk in his lower back. General manager Julien BriseBois said the injury is unrelated to those Vasilevskiy played through last season.

Tampa Bay Lightning goaltender Andrei Vasilevskiy (NHL Images).

BriseBois indicated the club has no plans to seek an external option to replace Vasilevskiy but he didn’t rule out the possibility. Their current goaltending tandem of Jonas Johansson and Matt Tompkins possess limited NHL experience.

SPECTOR’S NOTE: This is a major blow to the Lightning to start the season. Vasilevskiy is among the league’s elite goalies, winning the Vezina Trophy in 2019 and the Conn Smythe Trophy in 2021. He was the backbone of their three consecutive Stanley Cup Final appearances from 2020 to 2022 and their back-to-back Cup wins in 2020 and 2021.

Losing Vasilevskiy could put the Lightning into an early-season hole too deep to climb out of if Johansson and Tompkins aren’t up to the task. Despite the Bolts’ intention of sticking with their current tandem, there’s plenty of speculation that BriseBois could go shopping for help. I’ll have more about that in today’s NHL Rumor Mill update.

NHL.COM: Chicago Blackhawks rookie Connor Bedard picked up two assists in his NHL preseason debut as his club beat the St. Louis Blues 2-1 in overtime. The 18-year-old center set up Andreas Athanasiou’s game-winner and finished with nine shot attempts and five shots on goal while winning 10 of 16 faceoffs and logging over 21 minutes of ice time.

SPECTOR’S NOTE: Despite his impressive performance in this game, Bedard felt that he could’ve played better. If he performs as well in regular-season play as he did in this game, the Blackhawks will have a future superstar on their hands.

Erik Karlsson made his preseason debut with the Pittsburgh Penguins in a 3-1 victory over the Buffalo Sabres. Acquired from the San Jose Sharks in a blockbuster trade last month, he had one shot on goal and logged over 19 minutes of ice time. Drew O’Connor tallied two goals for the Penguins.

In other preseason action:

Kiril Kaprizov scored twice as the Minnesota Wild doubled up the Colorado Avalanche 4-2.

Tyler Toffoli scored in his preseason debut with the New Jersey Devils in a 3-2 win over the New York Rangers. Toffoli was acquired by the Devils in June from the Calgary Flames.

Washington Capitals rookie Ivan Miroshnichenko collected two assists while veteran winger Tom Wilson had a goal and an assist in a 4-3 win over the Detroit Red Wings.

The Seattle Kraken defeated the Vancouver Canucks 3-1 on two goals by winger Eeli Tolvanen.

TSN: Calgary Flames assistant general manager Chris Snow remains on life support while arrangements for organ donation are made, his wife Kelsie announced. Snow became unresponsive on Tuesday and went into cardiac arrest on Tuesday, resulting in a catastrophic brain injury. He’d been battling ALS since 2019.

SPECTOR’S NOTE: A GoFundMe page has been set up to help Snow’s family.

DAILY FACEOFF: Speaking of the Flames, the club intends to keep promising goaltender Dustin Wolf in the AHL to start the season if a trade of backup Dan Vladar doesn’t materialize. GM Craig Conroy indicated that Wolf is exempt from waivers this season.

SPECTOR’S NOTE: Wolf won’t be in the AHL for long. I daresay we’ll see him join the Flames on a permanent basis at some point during this season.

WINNIPEG SUN: Jets winger Nikolaj Ehlers acknowledged he’s been unlucky recently when it comes to injuries. The 27-year-old winger has been frustrated over the spate of various injuries that have sidelined him over the past two years. The latest is neck spasms that have kept him out of preseason action thus far.

CBS SPORTS: Ottawa Senators captain Brady Tkachuk suffered a cut above his eye during practice on Wednesday. He required several stitches and will miss Friday’s preseason matchup with the Jets. Tkachuk is expected to be good to go for the club’s season opener next month.

SPORTSNET: Vancouver Canucks goaltender Spencer Martin and Pittsburgh Penguins forward Rem Pitlick and defenseman Ty Smith were the notable players placed on waivers yesterday.

SPECTOR’S NOTE: The report also indicated Martin was the subject of some trade discussions. We’ll find out this afternoon if he ends up claimed by another team.










NHL Morning Coffee Headlines – August 10, 2023

by | Aug 10, 2023

NHL Morning Coffee Headlines – August 10, 2023

Erik Karlsson meets with the media following his trade to the Penguins plus the latest on Logan Couture, Tom Wilson, J.T. Miller and more in today’s NHL Morning Coffee Headlines.

PITTSBURGH HOCKEY NOW/SAN JOSE HOCKEY NOW: Erik Karlsson met with the Pittsburgh media yesterday for the first time since being traded to the Penguins by the San Jose Sharks on Sunday.

Karlsson said he didn’t give the Sharks a list of preferred trade destinations but he wanted to go to a winner. He became interested when he learned the Penguins were looking into acquiring him. The 33-year-old defenseman said he’s excited to be playing alongside Sidney Crosby, Evgeni Malkin and Kris Letang.

Karlsson and Letang are both right-shot, right-side defensemen. However, he doesn’t believe he’ll have any difficulty co-existing with the long-time Penguins blueliner. He also denied a report from earlier this summer claiming there was tension between himself and former Sharks teammate Brent Burns. “We’re actually pretty good friends, personally,” he said.

NHL.COM: Speaking of the Sharks, team captain Logan Couture remains committed to the retooling club despite the departure of Karlsson. The 34-year-old center has spent his entire 14-season NHL career with the Sharks. He praised the management and coaching staff, adding that he wants to help reverse the club’s fortunes. “I want to turn this thing around here in San Jose,” said Couture.

San Jose Sharks captain Logan Couture (NHL Images)

SPECTOR’S NOTE: Couture is signed through 2026-27 with an average annual value of $8 million. The article also noted that he and his family have stability in the Bay Area so he currently has no interest in seeking a trade to a Stanley Cup contender.

NBC SPORTS WASHINGTON: Armed with a seven-year contract extension, Capitals winger Tom Wilson is enjoying a healthy summer after rehabbing a torn ACL last year. He admitted he felt “behind the eight-ball” when he returned to action midway through last season after missing training camp last fall.

VANCOUVER HOCKEY INSIDER: Canucks center J.T. Miller remains determined to avoid social media and the sometimes toxic atmosphere that sometimes comes with it.

Appearing on the “Cam and Strick” podcast, Miller also admitted he couldn’t stand a portion of the local media base, noting two or three incidents that he claimed were misinterpreted by them as well as the spreading of unsubstantiated rumors.

“Not all of them, I just can’t stand some of them, and to be honest, I think they know that I feel that way. So it’s not really something to hide,” said Miller.

TORONTO SUN: The Maple Leafs signed goaltender Martin Jones to a one-year contract worth $875K. However, he will have to pass through waivers to be sent to their AHL affiliate and there’s a risk he could be claimed by another NHL club.

SPECTOR’S NOTE: Jones is likely to slot in as the Leafs’ No. 3 goaltender provided he doesn’t get plucked off the waiver wire at some point.

NJ HOCKEY NOW: The Devils signed defenseman Cal Foote to a one-year, two-way contract worth $800K at the NHL level.

THE HOCKEY NEWS: The late Chicago Blackhawks owner Rocky Wirtz was remembered by family, friends, current and former Blackhawks and the club’s fans during two memorial services yesterday in Chicago. Wirtz died suddenly on July 25 at age 70.










NHL Morning Coffee Headlines – August 9, 2023

by | Aug 9, 2023

NHL Morning Coffee Headlines – August 9, 2023

The preseason schedule is released, details of how the Erik Karlsson trade went down, plus the latest on Brendan Gallagher, Jeremy Swayman, Tim Thomas and more in today’s NHL Morning Coffee Headlines.

NHL.COM: The 2023-24 preseason schedule was released yesterday. It will be “a 15-day, 111-game slate played across 44 NHL and neutral-site venues in North America and Australia from Sept. 23 to Oct. 7.”

The schedule kicks off with the Arizona Coyotes and Los Angeles Kings playing two games in Australia in the 2023 NHL Global Series in Melbourne at the Rod Laver Arena from Sept. 23-24. It’s the first time NHL games will be played in the Southern Hemisphere.

In the Kraft Hockeyville series, the Buffalo Sabres and Toronto Maple Leafs face off at the Joe Thornton Community Centre in St. Thomas, Ont, on Sept. 27 while the Florida Panthers and Ottawa Senators meet on Oct. 1 at Centre 200 in Sydney, NS.

The 2023-24 regular season begins on Oct. 10.

SPECTOR’S NOTE: Training camps are expected to begin between Sept. 21 and 25.

SAN JOSE HOCKEY NOW: Details emerged about how the Pittsburgh Penguins acquired Erik Karlsson from the San Jose Sharks in a blockbuster three-team deal involving the Montreal Canadiens. Among the highlights:

Sharks general manager Mike Grier dismissed reports from last month claiming he and Penguins GM Kyle Dubas were close to a deal on the opening day of free agency (July 1) or during the NHL Draft on June 28-29. Dubas, meanwhile, said his side pushed hardest during the last week to make it work.

Pittsburgh Penguins defenseman Erik Karlsson (NHL Images).

As expected, moving Karlsson’s hefty contract proved to be challenging, especially given the Sharks’ unwillingness to retain a significant portion of his $11.5 million average annual salary. Grier also indicated that the Penguins and the Carolina Hurricanes were the only clubs seriously in the hunt.

There was also a deadline for the Penguins to acquire Karlsson that was tied to the settlement last week of winger Drew O’Connor’s salary arbitration. It opened a 48-hour contract buyout window over the weekend that would’ve been Dubas’ last chance to clear some significant salary-cap space barring a trade before the beginning of the regular season. The Penguins intended to buy out Mikael Granlund but instead managed to include him in the trade package to San Jose for Karlsson.

The Sharks were on Jeff Petry’s 15-team no-trade list. He was traded to the Canadiens with the Penguins retaining 25 percent of his $6.25 million AAV. Dubas revealed there was some difficulty attempting to move the 35-year-old defenseman until Canadiens GM Kent Hughes stepped in toward the end.

SPECTOR’S NOTE: There were a lot of pieces to this deal that needed time to be worked out. Fans and pundits are grading this trade to determine the winners and losers. Time, however, will be the ultimate judge of how this deal works out for all concerned.

What’s undeniable is this became the biggest trade in Pittsburgh Penguins’ history. It involved 12 assets, breaking the record of nine that was set in the 2015 Phil Kessel trade with the Toronto Maple Leafs.

MONTREAL GAZETTE: Speaking of the Canadiens, Brendan Gallagher said he’s healthy after recovering from a twice-broken ankle that limited him to 37 games last season. The 31-year-old winger is looking forward to playing a leadership role with the rebuilding Habs.

SPECTOR’S NOTE: Gallagher’s physical, aggressive style of play could lead to him being sidelined at times this season. He missed considerable time over the past three years.

BOSTON HOCKEY NOW: Jeremy Swayman said he holds no ill will against the Bruins after being awarded a one-year, $3.47 million contract via arbitration. While the 24-year-old goaltender acknowledged it was business, he also said he didn’t want to repeat the process.

SPECTOR’S NOTE: Going through the arbitration process often leads to a player’s departure once they become eligible for unrestricted free-agent status. However, the Bruins’ limited salary-cap space this season put the club in a difficult situation where they couldn’t afford to pay Swayman a more lucrative contract.

With the cap expected to rise by at least $4 million for 2024-25 and Swayman once again a restricted free agent with arbitration rights, perhaps the two sides will reach an agreement on a longer-term contract.

Speaking of the Bruins, former goalie Tim Thomas is looking forward to being part of the club’s centennial celebrations this season. Thomas, 49, said he’s looking forward to seeing some old teammates and expects it will be a fun season given the events planned by the team.

SPECTOR’S NOTE: Thomas has had a change of heart after saying he wouldn’t take part in the ceremonies during a 2019 interview. He’ll likely get a warm welcome from the Bruins faithful given his invaluable role in the club’s 2011 Stanley Cup championship run.

DAILY FACEOFF: cited Edmonton Oilers commentator Bob Stauffer reporting Brandon Sutter is expected to join the club’s training camp next month on a professional tryout offer. He hasn’t played since the 2020-21 season due to the effects of long-COVID but said in March that he’s been making some progress.

ARIZONA SPORTS: Coyotes owner Alex Meruelo has put in a letter of intent to purchase 41 acres in Mesa, AZ, for the club’s new arena. If successful, it would become the first privately funded sports and entertainment district in the state. Meruelo is also reportedly looking at other possible sites in the East Valley.

SPECTOR’S NOTE: This move follows a May vote by Tempe voters rejecting the Coyotes’ proposal to construct a venue in their area.

RDS.CA: Former NHL star Jaromir Jagr confirmed he’s returning for another season with Czechia’s Kladno Knights. Jagr, 51, owns the club and is in his seventh season with Kladno since leaving the NHL. He had five goals and nine assists in 26 games last season.










NHL Morning Coffee Headlines – August 7, 2023

by | Aug 7, 2023

NHL Morning Coffee Headlines – August 7, 2023

Reaction to the Erik Karlsson trade, the Coyotes sign Matt Dumba, Radko Gudas explains why he signed with the Ducks and more in today’s NHL Morning Coffee Headlines.

PITTSBURGH HOCKEY NOW: Dave Molinari believes the Penguins got Erik Karlsson at a bargain price. While some of the assets that were sacrificed (such as a top-10 protected 2024 first-rounder) will sting a bit, it won’t be a crippling blow considering what they got back.

PITTSBURGH POST-GAZETTE: Mark Madden considers Penguins general manager Kyle Dubas a “miracle worker” for getting a superstar such as Karlsson while shedding a combined $14 million in cap space getting rid of players he didn’t want in Mikael Granlund, Jeff Petry, Jan Rutta and Casey DeSmith.

Pittsburgh Penguins defenseman Erik Karlsson (NHL Images).

PITTSBURGH POST-GAZETTE: Ron Cook also sang Dubas’ praises for landing Karlsson while shedding the dead weight he was saddled with by the Penguins’ previous management.

Meanwhile, Matt Vensel examined how the addition of Karlsson will affect the bottom of the Penguins’ lineup. He points out that the departures of Petry and Rutta leave the Penguins’ blueline corps smaller while raising questions about their penalty-killing ability. Trading away Granlund also removes needed playmaking from their bottom-six forward lines.

NBC SPORTS BAY AREA: Sheng Peng believes the San Jose Sharks didn’t get much back for Karlsson, taking on the unwanted contracts of Granlund and Ruuta from Pittsburgh and of Mike Mike Hoffman from the Montreal Canadiens.

Peng reported that Sharks GM Mike Grier indicated the club didn’t want to retain more of Karlsson’s $11.5 million cap hit than they did ($1.5 million) to facilitate a trade. “Having some cap flexibility and financial flexibility was really important for us going forward, “ said Grier.

Grier added that it was important for the Sharks to have the cap space to acquire players via trades or free agency when the opportunity arises. It also provides them flexibility within the next two years when the contracts of the players acquired in the Karlsson trade to put toward their prospects.

Peng believes we’ll get a better evaluation of this trade from the Sharks’ standpoint within a couple of years depending on what they do with that cap space.

SPECTOR’S NOTE: I wrote my take on the trade soon after it went down yesterday. You can read it here.

It will be interesting to see how things unfold for the Penguins and Sharks over the next three or four years.

In the short term, the Penguins are the clear winners of this trade. They got the best player in this deal without giving up much to land him. This could work out well for the Pens over the next two or three years if Karlsson remains a reliable 70-80 point producer. It could also go south if his production declines and/or his injury woes resurface.

The Sharks didn’t get very much back because of their unwillingness to retain more of Karlsson’s hefty AAV. The flattened salary cap also worked against them. Had the cap risen by a significant amount this summer (like the projected $4 million increase for 2024-25), they might’ve found more suitors willing to offer up more than the Penguins.

Nevertheless, this could work out for the Sharks over the long run. They managed to get all almost all of Karlsson’s cap hit off their books plus they got a conditional 2024 first-round pick in the deal. As Peng explained, it depends on what they do with their cap flexibility and those promising players within their system.

The addition of Granlund, Hoffman and Rutta helps the Sharks buy a year or two to allow their prospects more time to develop. They could also flip those three at the trade deadline for draft picks or prospects.

As for the third team in the trade, the Canadiens also did a tidy bit of business in this deal which I noted in my analysis yesterday. They shed themselves of Hoffman’s $4.5 million cap hit, got Petry back at a reduced salary, bolstered their goalie depth by adding DeSmith and moved out a player who no longer fit into their roster in Rem Pitlick.

The Canadiens might not be done dealing. I’ll have more about that in today’s NHL Rumor Mill.

ARIZONA SPORTS: Reports indicate the Coyotes signed defenseman Matt Dumba to a one-year contract worth $3.9 million.

SPECTOR’S NOTE: Dumba is coming off a five-year contract with an AAV of $6 million. The recent decline in his offensive game ensured he wouldn’t get anything close to that in this year’s free-agent market.

Dumba remains an experienced top-four defenseman who can log big minutes. Those attributes should provide a boost to the rebuilding Coyotes blueline.

A solid performance in Arizona could turn Dumba into a valuable asset for the Coyotes at the March trade deadline. It will also improve his chances of landing a richer deal in next summer’s free-agent market.

THE HOCKEY NEWS: Radko Gudas recently explained why he opted to sign with the rebuilding Anaheim Ducks after leaving the Stanley Cup finalist Florida Panthers as a free agent. He indicated that it had to do with the role he’d play with the Ducks as well as the financial aspect.

Gudas said he received interest from some Canadian teams, including the Toronto Maple Leafs. However, he didn’t know if he’d feel comfortable dealing with the constant media attention. He also noted the taxes were higher in Canada.

SPECTOR’S NOTE: Gudas isn’t the only player who has spurned signing with Canadian teams because of higher taxes in some provinces as well as media scrutiny. It’s gone on for decades now. Those clubs have still managed to sign notable free agents over the years but it does make it harder for them to attract high-quality talent.

DETROIT HOCKEY NOW: Former Detroit Red Wings forward Evgeny Svechnikov is reportedly signing a contract with KHL club AK Bars Kazan. He spent four seasons bouncing between the Red Wings and their AHL affiliate in Grand Rapids from 2016-17 to 2020-21. He also played for the Winnipeg Jets in 2021-22 and the San Jose Sharks last season.

SPECTOR’S NOTE: Svechnikov is the older brother of Carolina Hurricanes star Andrei Svechnikov. Chosen 19th overall by the Red Wings in the 2015 NHL Draft, he never reached the same heights as Andrei did.

NHL.COM: Former NHL goaltender Gilles Gilbert passed away on Saturday at age 74. Gilbert spent 14 seasons with the Minnesota North Stars, Boston Bruins and Detroit Red Wings from 1969-70 to 1982-83. In 416 games, he had a record of 192-143-60 with 18 shutouts, a 3.27 goals-against average and a .883 save percentage.

SPECTOR’S NOTE: Gilbert’s best seasons were with the Bruins from 1973-74 (when he backstopped them to the Stanley Cup Final) to 1979-80. He almost denied the Montreal Canadiens of a fourth straight Stanley Cup with an outstanding performance in Game 7 of the 1979 semifinal. He was named the game’s first star despite the Bruins losing 5-4 in overtime.

My condolences to Gilbert’s family, friends and former teammates.










Penguins Acquire Erik Karlsson in Three-Team Trade

by | Aug 6, 2023

Penguins Acquire Erik Karlsson in Three-Team Trade

The San Jose Sharks traded Erik Karlsson to the Pittsburgh Penguins in a three-team deal involving the Montreal Canadiens.

The Penguins get Karlsson, forward Rem Pitlick, forward Dillon Hamaliuk and the Sharks third-round pick in the 2026 NHL Draft.

San Jose Sharks trade defenseman Erik Karlsson to the Pittsburgh Penguins (NHL Images).

The Sharks receive the Penguins 2024 first-round pick (top-10 protected), forward Mikael Granlund, defenseman Jan Rutta and forward Mike Hoffman.

The Canadiens acquire the Penguins 2025 second-rounder, defenseman Jeff Petry, goaltender Casey DeSmith and forward Nathan Legare.

SPECTOR’S NOTE: The Sharks are retaining $1.5 million of Karlsson’s $11.5 million annual salary cap hit through 2026-27. Meanwhile, the Penguins are retaining over $1.562 million of Petry’s $6.25 million annual cap hit through 2024-25.

Penguins general manager Kyle Dubas finally lands the big fish he was pursuing since mid-June. This is the biggest trade he’s ever made in the NHL and it could define his legacy with the Penguins.

With the first-pairing spot on the right side of the Penguins’ blueline promised to Kris Letang, Karlsson will either move into the second-pairing position or over to the left side on the first pairing. He will likely anchor the first power-play unit.

The Penguins didn’t get much cap savings from the Sharks’ retaining part of his salary. However, they were able to clear the entirety of Granlund’s $5 million average annual value from their cap payroll

This move could work out well for the Penguins if Karlsson remains a 70-80 point defenseman who meshes well with Sidney Crosby and Evgeni Malkin over the next two or three seasons. But if Karlsson’s performance declines and injuries start catching up with him, they’ll have a blueliner with eroding skills and a still-significant annual cap hit on their books.

Pitlick joins the Penguins from the Canadiens. The 26-year-old carries an average annual value of $1.1 million and will either skate on the Penguins’ checking lines this season or head to their AHL affiliate in Wilkes-Barre/Scranton. Hamaliuk, 22, spent last season with the ECHL’s Wichita Thunder and is likely headed to the minors.

This move also leaves the Penguins with $1.495 million in cap space. They could get more if Jake Guentzel ends up on long-term injury reserve to start the season.

The Sharks aren’t getting a package of promising youngsters in this deal in Granlund, Rutta and Hoffman. Granlund and Rutta are coming from the Penguins while Hoffman joins them from the Canadiens.

This trio struggled with their former clubs and their best seasons could be behind them. Nevertheless, they should provide some experienced short-term depth for the Sharks as they continue to rebuild on the fly.

The real prize here for San Jose is shedding the bulk of Karlsson’s contract as well as getting a first-round pick as part of the return. They now have two first-rounders and two second-round picks in next year’s draft.

Meanwhile, the Canadiens managed to address some of their needs in this trade. They moved out Hoffman and his $4.5 million cap hit for this season, clearing space to bring back Petry at a slightly reduced price to add some experience to their young blueline, and brought in more depth to their goaltending with DeSmith.

Petry shouldn’t have much difficulty readjusting to the Canadiens. Despite his difficulties with the Penguins last season he still managed 31 points in 61 games. DeSmith could be the Habs’ third goalie behind Sam Montembeault and Jake Allen unless Montembeault or Allen ends up getting shipped out at some point.

Legare spent the past two seasons with the Penguins’ farm club. He will likely end up with the Habs’ AHL affiliate in Laval. The addition of the Penguins’ pick gives them two second-rounders in the 2025 draft.