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.










NHL Rumor Mill – June 5, 2023

by | Jun 5, 2023

NHL Rumor Mill – June 5, 2023

Could the Bruins trade Hampus Lindholm to re-sign Tyler Bertuzzi or Dmitry Orlov? Who could become candidates for contract buyouts later this month? Find out in today’s NHL Rumor Mill.

COULD THE BRUINS TRADE LINDHOLM AND RE-SIGN BERTUZZI OR ORLOV?

BOSTON HOCKEY NOW: Jimmy Murphy recently cited a report from Sportsnet’s Elliotte Friedman indicating the Bruins were exploring how to retain Tyler Bertuzzi. The 28-year-old winger is slated to become an unrestricted free agent on July 1.

Boston Bruins winger Tyler Bertuzzi (NHL Images).

Murphy also noted 98.5 The Sports Hub producer James Stewart claiming Bertuzzi was seeking $7 million annually on his next contract. Stewart also claimed the Bruins preferred Dmitry Orlov over Hampus Lindholm, who is about to enter the second season of an eight-year, $52 million contract. Like Bertuzzi, Orlov was a trade deadline acquisition who is due to become a UFA on July 1.

Stewart said the Bruins had “buyer’s remorse” with Lindholm and he was available in a trade. Murphy cited a former NHL executive saying he’d hear the same thing but two current NHL executives said they had no knowledge that Lindholm was available.

SPECTOR’S NOTE: Sweeney would undoubtedly love to re-sign Bertuzzi and/or Orlov. However, I think he’ll have to move other players if he hopes to accomplish that feat.

Lindholm has a full no-trade clause plus a no-movement clause that prevents his demotion to the minors. I don’t see him waiving those clauses to be shipped to another team.

I also share Murphy’s doubts that Bruins general manager Don Sweeney will give up on Lindholm after acquiring and signing him last season to that long-term contract. The 29-year-old blueliner played well for the Bruins this season until being hampered by a broken foot in the playoffs.

POTENTIAL CONTRACT BUYOUT CANDIDATES

DAILY FACEOFF: Frank Seravalli recently listed five NHL players who could become candidates for contract buyouts this summer. The buyout period begins on June 15 or 48 hours following the completion of the final game of the Stanley Cup Final. It runs until 5 pm ET on June 30.

SPECTOR’S NOTE: A 48-hour buyout window also opens in late July/early August for a team following the settlement of their final salary arbitration case or receipt of their final arbitration award.

Seravalli listed Edmonton Oilers winger Kailer Yamamoto, Boston Bruins defenseman Mike Reilly, Pittsburgh Penguins winger Mikael Granlund, Washington Capitals winger Anthony Mantha and Dallas Stars defenseman Ryan Suter as his buyout candidates.

SPECTOR’S NOTE: Buyouts for players 26 and older are two-thirds of the remaining value of the contract over twice the remaining tenure. The exception is the 24-year-old Yamamoto, whose buyout would be one-third of the remaining value over the two-thirds period.

Those clubs could attempt to move those players via trades rather than buying them out. Seravalli that the Capitals have informed teams they’re willing to move on from Mantha. Even if these teams have to retain some salary to facilitate those trades, it could still be more affordable than a buyout.

Nevertheless, if these cap-strapped clubs can’t find any takers for those players, they could have no other choice but to go the buyout route.

 










Sunday NHL Rumor Roundup – May 7, 2023

by | May 7, 2023

Sunday NHL Rumor Roundup – May 7, 2023

A look at rumored candidates for the Rangers’ head-coaching job plus the latest Penguins speculation in the Sunday NHL Rumor Roundup.

WHO REPLACES GERARD GALLANT AS RANGERS HEAD COACH?

NEW YORK POST: Larry Brooks wondered who would replace Gerard Gallant after he and the Rangers mutually agreed to part ways on Saturday.

Brooks reports Joel Quenneville will not be among the candidates. He remains under an unofficial and open-ended suspension by the NHL for his failure to act responsibly in the Kyle Beach sexual assault issue while coaching the Chicago Blackhawks in 2010. The Rangers will not approach the league to ask commissioner Gary Bettman to lift his suspension.

New York Rangers general manager Chris Drury (NHL.com).

General manager Chris Drury and his staff have begun compiling a list of candidates but there is so far no clear front-runner. It’s uncertain whether candidates such as Patrick Roy who didn’t get an interview two years ago will be in the mix now.

Prior to Gallant and the Rangers parting company, a source suggested former Calgary Flames bench boss Darryl Sutter to Brooks. However, he doubts that a coach who alienated part of his roster this season while failing to reach the playoffs would be a candidate for the Blueshirts’ coaching gig.

SPECTOR’S NOTE: This being one of the notable head coaching jobs in the NHL, we’re likely to hear plenty of rumors in the coming weeks over who will be Gallant’s replacement. I agree with Brooks that Sutter probably won’t be a candidate after the season he had with the Flames.

It’ll be interesting to see who the Rangers bring in. Will they go with an experienced NHL coach or look toward someone from the minors, junior or college ranks? We’ll likely know before the NHL Draft (June 28-29) as I daresay they’ll want that position filled before then.

LATEST PENGUINS SPECULATION

THE HOCKEY NEWS: Nick Horwat recently suggested the Pittsburgh Penguins look toward the Winnipeg Jets as possible offseason trade partners.

The Jets could be looking at shaking things up this summer following their disappointing performance down the stretch and their first-round elimination by the Vegas Golden Knights.

Connor Hellebuyck could be of interest to the Penguins, who need an upgrade in goal. The former Vezina Trophy winner is 30 and has a year left on his contract with a cap hit of $6.1 million.

SPECTOR’S NOTE: Horwat believes Hellebuyck would be worth every penny for the Penguins. Cap Friendly shows them with over $20 million in cap space for 2023-24 so they can afford to acquire him.

Hellebuyck also lacks no-trade protection. If the Jets decide to shop him, their asking price could include the Penguins’ 2023 first-round pick.

PITTSBURGH HOCKEY NOW: Dan Kingerski was asked by several readers if Hellebuyck or Anaheim Ducks goalie John Gibson could be in play in the offseason trade market.

Kingerski doubts the Ducks will peddle Gibson if they get a top-two pick in this year’s draft. If they do make him available, he doubts the Penguins can afford to acquire him, suggesting the Ducks could seek two first-round picks and more in return.

Hellebuyck, on the other hand, could be a different story. He believes the Jets might be amenable to a player-for-player trade, though the Penguins convincing one of their players with a no-trade or no-move clause to accept a move to Winnipeg could be a problem.

SPECTOR’S NOTE: Kingerski also noted the Ottawa Senators are reportedly interested in Gibson but can outbid the Penguins. However, the Senators might not be on his list of acceptable trade destinations.

Recent rumors suggest the Ducks are willing to help Gibson find a suitable trade destination, preferably one that isn’t rebuilding. The Pittsburgh native could accept coming home to play with Sidney Crosby and Evgeni Malkin.

The Penguins will likely have to give up their first-rounder in the deal but the rest of the asking price might not be that expensive. The Ducks already have six picks in the first three rounds of this year’s draft and in next year’s as well. They could be more interested in moving Gibson’s contract, which has four years remaining with an annual cap hit of $6.4 million.

Horwat also suggested center Mark Scheifele and defenseman Neal Pionk as trade targets. He admits the 29-year-old Scheifele might be hard to fit in on a club already deep with centers but felt he’s the kind of talent you find a solution for. Horwat considers Pionk more obtainable, suggesting he’d be a good replacement for Jeff Petry.

SPECTOR’S NOTE: Scheifele is talented and could skate on the wing alongside Sidney Crosby or perhaps he could center the second line with Evgeni Malkin shifted to the wing. Like Hellebuyck, he has a year remaining on his contract. Scheifele has also faced criticism in recent years for his inconsistent play.

Pionk would be a good replacement for the aging Petry provided the Penguins can find a taker for him to clear his $6.25 million annual cap hit from their books. That’s assuming the Jets are willing to move Pionk.

Horwat also looked at possible buyout candidates. The first choice would be Jeff Carter but he’s on a 35-plus contract, meaning his annual cap hit would still count in full against the Penguins’ salary cap.

Jeff Petry and forward Mikael Granlund are other possibilities. However, there’s also the concern that those buyouts could become anchors if the rest of the roster is built incorrectly.

SPECTOR’S NOTE: The Penguins appear stuck with Carter for the final season of his contract. They can’t buy him out and he’s got a full no-movement clause.

I suspect the Penguins would prefer trading Petry and/or Granlund even if they have to retain a portion of their salary rather than buy them out. Whether they go either route remains to be seen. New management could see how both perform next season.










NHL Rumor Mill – April 13, 2023

by | Apr 13, 2023

NHL Rumor Mill – April 13, 2023

What next for the Penguins after being eliminated from playoff contention? Could this season’s playoffs affect Auston Matthews’ future with the Maple Leafs? Check out the latest in today’s NHL Rumor Mill.

WHAT NEXT FOR THE PENGUINS?

PITTSBURGH POST-GAZETTE/THE ATHLETIC: Matt Vensel and Rob Rossi looked at the offseason issues facing the Penguins after their streak of 16 consecutive playoff appearances came to an end this week.

Pittsburgh Penguins general manager Ron Hextall (NHL.com).

The new ownership group will have to decide if they’ll bring back general manager Ron Hextall and president of hockey operations Brian Burke or replace one or both men. Rossi observed that Hextall and Burke were hired by the previous ownership.

Vensel noted that Hextall made several savvy trades and signings. However, there were also crippling mistakes, including the blueline being worse than last season and trade deadline acquisition Markus Granlund failing to pan out.

SPECTOR’S NOTE: I’ll be very surprised if Hextall and Burke are back for 2023-24. They seemed like deer in headlights this season when it came to addressing their team’s on-ice woes.

Head coach Mike Sullivan is signed through 2026-27. Rossi doesn’t see them paying Sullivan for the next five seasons not to coach. Vensel observed that ownership thinks highly of him.

Both writers believe Sullivan will return. If so, Vensel believes he must make changes to adapt to his personnel and figure out why a veteran-laden club lacked composure this season.

SPECTOR’S NOTE: Sullivan’s contract pretty much ensures he’ll be behind the Penguins’ bench next season. I agree that he must evaluate what he can do to remedy his club’s on-ice issues but management must provide him with a better roster than the one he had to work with this season.

Venzel doesn’t expect the Penguins will trade Evgeni Malkin and Kris Letang after re-signing them last summer. He believes pending free-agent goaltender Tristan Jarry should not be re-signed, though the other goalie options in this summer’s unrestricted free-agent market are a bit underwhelming. He suggested the Boston Bruins’ restricted free agent Jeremy Swayman could be worth considering.

SPECTOR’S NOTE: Vensel didn’t indicate if the Penguins should attempt to acquire Swayman via trade or offer sheet. The Bruins face more of a cap pinch than the Pens so perhaps an offer sheet might work provided Swayman is willing to sign one.

Along with Jarry, Rossi pointed out that their other notable UFAs included Brian Dumoulin and Jason Zucker. Rossi observed the Penguins have over $63.2 million invested in 15 players for 2023-24. Vensel doesn’t expect Dumoulin and Zucker will be back unless the Penguins can free up some cap space to re-sign the latter.

Vensel speculated the Penguins could attempt to trade away a high-salaried player. It could cost them a draft pick to move Granlund and his $5 million average annual value. Jeff Petry has a partial no-trade clause and the Penguins would have to find a suitable replacement.

Jeff Carter has a full no-trade clause. He’s on a 35-plus contract meaning the Penguins get no cap relief if he retires or is bought out. Short of somehow sending his contract to a team like the Arizona Coyotes, Carter will likely remain on their books next season.

SPECTOR’S NOTE: They don’t have many good options here that won’t cost them a draft pick or a prospect as a sweetener in the deal. Teams could prefer they retain some salary.

WILL THE 2023 PLAYOFF AFFECT MATTHEWS’ FUTURE WITH THE LEAFS?

TORONTO STAR: Nick Kypreos observed that the Maple Leafs can open contract extension talks with Auston Matthews on July 1. However, he wondered what impact the coming playoffs will have on Matthews’ future with the Leafs.

Matthews is slated to become an unrestricted free agent next July. He’s earning an average annual value of $11.6 million on his current contract.

Kypreos suggests a successful first round by the Leafs could go a long way in convincing Matthews to remain in Toronto for the long term. Another early postseason exit, however, had Kypreos wondering if that will decrease Matthews’ odds of signing a lengthy extension, especially if the Leafs end up replacing general manager Kyle Dubas.

SPECTOR’S NOTE: Kypreos believes the Leafs will triumph this time over the Tampa Bay Lightning in the rematch of last year’s first-round series. If Matthews isn’t convinced to sign long-term, he envisions the Leafs star inking a three- or four-year deal to take advantage of the salary cap rising over that period.

The Leafs and Matthews have plenty of time to negotiate a new deal regardless of length. Nevertheless, his contract status could dominate this summer’s rumor mill if the Leafs make another first-round departure. The longer Matthews goes without a new deal, the more questions will be asked about his future.










NHL Morning Coffee Headlines – March 2, 2023

by | Mar 2, 2023

NHL Morning Coffee Headlines – March 2, 2023

Recaps of Wednesday’s games, the three stars and rookie of the month for February are revealed, the Red Wings re-sign Dylan Larkin, the Penguins acquire Mikael Granlund, and more in today’s NHL Morning Coffee Headlines.

GAME RECAPS

NHL.COM: Edmonton Oilers captain Connor McDavid scored twice and collected an assist to down the Toronto Maple Leafs 5-2. Zach Hyman had a goal and an assist against his former club as the Oilers improved to 33-21-8 and hold third place in the Pacific Division with 74 points. Mitch Marner had a goal and an assist for the 37-16-8 Maple Leafs as they sit second in the Atlantic Division with 82 points.

Edmonton Oilers center Connor McDavid (NHL Images).

SPECTOR’S NOTE: McDavid extended his multi-goal streak to five games. Defenseman Mattias Ekholm joined the Oilers for his first game after being acquired from the Nashville Predators the day prior, logging over 20 minutes of ice time and collecting an assist on Hyman’s goals.

New Jersey Devils forward Dawson Mercer scored for the seventh straight game and collected three assists in a 7-5 victory over the Colorado Avalanche, snapping the latter’s six-game win streak. Tomas Tatar had a goal and two assists for the Devils (40-15-5) as they sit one point behind the Metropolitan Division-leading Carolina Hurricanes with 85 points. Nathan MacKinnon scored twice for the 34-20-5 Avalanche (73 points) as they remain one point back of the second-place Minnesota Wild in the Central Division.

SPECTOR’S NOTE: Earlier in the day, the Avalanche placed defenseman Cale Makar (concussion) on injured reserve.

Speaking of the Hurricanes, they dropped a 3-2 decision to the Vegas Golden Knights. Jack Eichel scored twice while Reilly Smith snapped a 2-2 tie late in the third period as the Golden Knights improved to 36-19-6 and sit in first place in the Pacific Division with 78 points. Martin Necas and Jordan Staal replied for the Hurricanes (39-12-8) as they’ve dropped two straight games.

An overtime goal by Vladimir Tarasenko lifted the New York Rangers over the Philadelphia Flyers by a score of 3-2. Tarasenko also collected two assists while Igor Shesterkin kicked out 26 shots for the Rangers (35-17-9) as they sit in third place in the Metropolitan Division with 79 points. The Flyers have lost eight of their last nine games and dropped to 23-28-11.

SPECTOR’S NOTE: Patrick Kane will make his debut with the Rangers on Thursday against the Ottawa Senators. The Rangers acquired the 34-year-old winger from the Chicago Blackhawks on Monday.

Dallas Stars forward Tyler Seguin tallied two goals and collected an assist as his club doubled up the Arizona Coyotes 4-2. The Stars improved to 32-16-13 and hold first place in the Central Division with 77 points. Coyotes forward Clayton Keller scored his 25th goal of the season as his club fell to 21-31-9.

SPECTOR’S NOTE: Coyotes center Nick Schmaltz left the game in the second period after taking a puck to the left side of his face. Earlier in the day, the Stars placed forward Luke Glendening (undisclosed) on injured reserve.

The Washington Capitals kept their fading playoff hopes alive by nipping the Anaheim Ducks 3-2 on an overtime tally by Tom Wilson, who finished the game with two goals. The Capitals (30-27-6) are three points out of the final Eastern Conference wild-card berth with 66 points. Trevor Zegras had a goal and an assist for the 20-34-8 Ducks.

SPECTOR’S NOTE: Capitals defensemen Nick Jensen and Martin Fehervary left this game with injuries. Meanwhile, the Ducks withheld blueliners John Klingberg and Dmitry Kulikov from this game for trade-related reasons.

HEADLINES

NHL.COM: Edmonton Oilers center Connor McDavid, Colorado Avalanche center Nathan MacKinnon and Boston Bruins goaltender Linus Ullmark are the NHL’s three stars for February 2023. Ottawa Senators goalie Mads Sogaard was named rookie of the month.

DETROIT HOCKEY NOW: The Red Wings and Dylan Larkin reached an agreement yesterday on an eight-year, $69.6 million contract extension. Larkin’s average annual value starting next season will be $8.7 million. The deal also comes with a full no-trade clause through the first five seasons and becomes a 10-team trade list for the final three years.

SPECTOR’S NOTE: Larkin’s lengthy contract negotiations at times made him the subject of trade speculation. However, it was clear the Wings weren’t going to trade him. Doing so would’ve left them without an established first-line center which would’ve significantly set back their development.

PITTSBURGH HOCKEY NOW: The Penguins made two trades yesterday. The first saw them ship forward Teddy Blueger to the Vegas Golden Knights in a cost-cutting move, receiving a 2024 third-round pick and minor-league defenseman Peter Diliberatore in return. They followed up by acquiring forward Mikael Granlund from the Nashville Predators in exchange for a second-round pick in 2023.

SPECTOR’S NOTE: Granlund is a versatile two-way playmaking forward who can play center or right wing. The 31-year-old carries an AAV of $5 million through 2024-25.

This move isn’t sitting well with some Penguins followers. They argue that adding Granlund does nothing to make the club younger, improve their speed or make them a bigger, tougher club.

The Predators, meanwhile, have accumulated nine picks in the four trades they’ve made since Feb. 25. They picked up a first-round pick in this year’s draft as well as a pick in the third, fourth and fifth rounds, two second-rounders and a fourth in 2024 and a first-rounder in 2025.

TAMPA BAY TIMES: The Lightning traded forward Vladislav Namestnikov to the San Jose Sharks in exchange for forward Michael Eyssimont. That move frees up $500K in cap space for the Lightning.










Predators No Longer Sellers In NHL Trade Market?

by | Apr 5, 2021

Predators No Longer Sellers In NHL Trade Market?