Red Wings-Penguins Talks on $92 Million Player 'Intensifying'

Karlsson, 35, is entering the final two seasons of his eight-year, $92 million contract and carries an $11.5 million annual cap hit. 

With San Jose already retaining part of that deal from the 2023 trade, however, Pittsburgh would only move part of that. Even then, the Penguins likely need to absorb more to complete a deal and convince someone to take on Karlsson.

Karlsson scored 53 points while averaging over 23 minutes per game last season, appearing in all 82 regular-season games.

If an agreement is reached with the Red Wings, Karlsson would bring vast experience to the Detroit blue line and slot in the second pairing, behind Moritz Seider.

Karlsson addressed the speculation surrounding him at the end of the season, back in April.

“I’ve been through this before,” Karlsson said. “At the end of the day, it’s a business.”

According to The Athletic’s Pierre LeBrun, the 35-year-old defenseman is open to waiving his full no-move clause, but only to join a Stanley Cup contender, which might block a trade to Detroit.

“My understanding is that Karlsson would be open to waiving to join a contender,” LeBrun wrote. “That might sound obvious, but he has the hammer via his full no-move, so it’s no small consideration.”