Home » Penguins Acquire Erik Karlsson in 3-Team Trade

Penguins Acquire Erik Karlsson in 3-Team Trade

Justin Miller

Publish Date: August 6, 2023

The San Jose Sharks have found a trade partner for seven time all-star Erik Karlsson. The reigning Norris Trophy winner will be joining the Pittsburgh Penguins for the 2023-24 season. The Penguins acquired Karlsson as part of a three team trade that also included the Montreal Canadiens.

What the Penguins Get

The centerpiece of this trade is obviously the three time Norris Trophy winner Erik Karlsson. He’s coming off of an incredible season that saw him put up 101 points with the Sharks. That level of offensive ability from the blueline should be a major shot in the arm for a Penguins team that just barely missed the playoffs last season. The Penguins will be taking on the majority of Karlsson’s $11.5 million AAV for the next four years with the Sharks only retaining 13.04% of the deal.

In addition to Karlsson, the Penguins received forward Rem Pitlick from the Canadiens. The 26-year-old is coming off a season of 15 points across 46 games played. Pitlick will likely slot in with the Penguins bottom six next season. They also received forward Dillon Hamaliuk from the Sharks. Hamaliuk is a 22-year-old prospect who was selected in the second round of the 2019 draft. He’s most recently put up seven points in six games played in the ECHL. The deal also included a third round pick going to the Penguins from the Sharks.

What the Sharks Get

The most important part of the Sharks’ return for Karlsson was a 2024 first round pick from the Penguins. The pick is protected and could move to 2025 if the Penguins select in the top ten in the 2024 draft.

The Sharks also received three players as part of this trade. The first is Mikael Granlund whom the Penguins acquired at last season’s trade deadline. The 31-year-old winger had 41 points in 79 games played however only five of those points came in his 21 game stint with the Penguins. Granlund has a $5 million cap hit over the next two seasons and should provide some roster depth for the Sharks. The Penguins also sent 33-year-old defenseman Jan Rutta to the Sharks. Rutta is a reliable defensive player who struggled with injuries at the tail end of last season. He has a $2.5 million cap hit over the next two seasons.

Lastly, the Sharks received Mike Hoffman from the Canadiens. Hoffman’s best goal scoring days are behind him but he still produces at a respectable rate for a player entering his mid-30s. He’s in the last year of his current contract which carries a $4.5 million AAV.

What the Canadiens Get

As the financial facilitators of this trade, the Canadiens were rewarded with a second round pick from the Penguins. Like the Sharks they also received three players as part of the deal.

First they received defenseman Jeff Petry who will be making his return to the team after previously playing eight seasons there. Petry’s offensive numbers took a dip after his last stint with the Canadiens but he’s still a quality veteran defenseman for a younger team. The Penguins will retain 25% of Petry’s $6.25 million cap hit over the next two seasons.

The Canadiens also received goaltender Casey DeSmith. DeSmith had his worst season in 2022-23 but has been a quality presence in net throughout his career. He’ll help give the Canadiens some flexibility in net at the low cost of $1.8 million before hitting unrestricted free agency next year. The last player heading to Montreal is 22-year-old forward Nathan Legare. Legare was selected in the third round of the 2019 draft and is coming off a 19 point season in the AHL.