Multiple teams engaging in trade talks for Norris Trophy winner

An expectedly hot trade market could soon see a rather Earth-shattering trade. Newly crowned Norris Trophy winner Erik Karlsson of the San Jose Sharks has been on the trade block for quite some time, and he’s made it known he’d like to get dealt to a contender.

Now, we have some clarity on some teams EK65 could suit up for next season. The Toronto Maple Leafs, Carolina Hurricanes and Seattle Kraken have reportedly initiated discussions with the Sharks regarding the possibility of acquiring the star defenseman, says Pierre LeBrun of The Athletic. LeBrun also indicates, though, that Karlsson has not yet provided Sharks general manager Mike Grier with a list of preferred destinations, leaving the trade negotiations as an “open canvas.”

Karlsson boasts a massive $11.5M cap hit through 2027 and has long been considered one of the most dynamic defensemen in the league. However, injuries plagued the Swedish defenseman in recent seasons, dampening his on-ice impact. 2022-23 saw him shake off most of the rust, though, becoming the first defenseman to record 100 points in a season since Brian Leetch in 1991-92. Nevertheless, his defensive deficiencies combined with the concern for reinjury will likely involve the Sharks, and potentially a third party, retaining massive amounts of his salary.

The Maple Leafs are definitely the team that would need the most help via salary retention to get a deal done. They are slated to have around $14.75M in cap space with defenseman Jake Muzzin headed for long-term injured reserve, but they need to fill at least five roster spots at forward and get a new contract signed for netminder Ilya Samsonov. A trade, however unlikely it may seem, could include T.J. Brodie, who’s locked in at a $5M cap hit next season and is a unrestricted free agent in 2024. Karlsson would essentially replace his spot in the lineup.

Few teams would complement Karlsson’s puck-moving style as well as Carolina. This is likely a fallback option for the Canes if they can’t reach an extension with Brett Pesce, although it’s hard to imagine two players at further ends of the defense spectrum. One would have to wonder about the necessity of acquiring Karlsson for the Canes, though, as a former teammate of Karlsson’s, Brent Burns, is already under contract through 2025, and they’re still working on acquiring Anthony DeAngelo from the Philadelphia Flyers (which, legally, can’t be completed for another few weeks for cap circumvention purposes).

As for the Kraken, the budding franchise has apparently wasted no time in trying to solidify itself as a championship contender after winning its first playoff series this spring. The Kraken have a bevy of talented forwards and a true four-line attack, but their biggest roster hole lies with a second-pairing right-shot defenseman behind shutdown stalwart Adam Larsson. They do have the cap room to make it work – their only notable expenditure this offseason will be re-signing blue-liner Vince Dunn, which could cost them around $7M per season. It still would leave them with about $13M in cap space and very few other roster holes to fill, making this a very doable task for the Kraken with 35% to 50% salary retention.