PITTSBURGH — After weeks of speculation dating back to the NHL Draft, the Pittsburgh Penguins acquired Erik Karlsson on Sunday in a three-team deal involving the San Jose Sharks and Montreal Canadiens.
Here's the details, via the Penguins:
- Pittsburgh acquires defenseman Erik Karlsson, forward Rem Pitlick, forward Dillon Hamaliuk and San Jose's 2026 third-round draft pick.
- San Jose acquires Pittsburgh's 2024 first-round draft pick (top-10 protected), forward Mikael Granlund, defenseman Jan Rutta and forward Mike Hoffman.
- Montreal acquires Pittsburgh's 2025 second-round draft pick, defenseman Jeff Petry, goaltender Casey DeSmith and forward Nathan Legare.
The immediate reaction from Locked on Penguins is Pittsburgh clearly won this trade.
"Not much of significance was given up by the Penguins to either San Jose or Montreal to bring back the reigning Norris winner," says co-host Patrick Damp.
And, as co-host Hunter Hodies notes, general manager Kyle Dubas was also able to dump some of his predecessor's unfavorable contracts in Granlund, Petry, Ruuta and DeSmith.
"Sure, you have to give up a first round pick in next year's draft, but it's lottery protected," Hodies said. "They didn't really have to give up many big prospects either. This is a massive win for the Penguins. Kyle Dubas just took both Kent Hughes' lunch money and Mike Grier's lunch money with this deal."
One of the big obstacles to this deal was Karlsson's contract, which runs through 2026-27 at a cap hit of $11.5 million.
However, and somewhat amazingly, the Penguins were able to come out with more cap space.
The Penguins will have to figure out a way to fit Jake Guentzel back under the cap when he's able to return from ankle surgery, but that is a problem for later on down the road.
For now, the Penguins have Karlsson to compliment Pittsburgh's Big 3 of Sidney Crosby, Evgeni Malkin, and Kris Letang as they seek one more ride to glory.