As the 2023 NHL offseason progresses, a number of potential transactions remain unfulfilled, but the one that impacts the San Jose Sharks the most is the fate of their star defenseman Erik Karlsson. He is openly on the trade block, and a change of scenery is mutually beneficial, given both his career trajectory and San Jose’s current position as a franchise. His next destination, while undetermined, is likely to be either the Carolina Hurricanes or Pittsburgh Penguins. Although teams around the league are aware of his status as a trade piece, the Sharks appear to be content to take their time on a deal, refusing to rush into a move to get Karlsson and his contract off of their roster. This method is understandable for San Jose for a number of reasons, and it could produce the best trade possible.
Sharks Need Time Given Scope of Potential Karlsson Trade
Given Karlsson’s unique value as an offensive-minded blueliner and the size of his contract, any trade centered around him will likely be a massive undertaking. It will involve numerous players and draft picks — perhaps conditional selections — and the Sharks will retain some of Karlsson’s salary as well. Regardless of his final destination, the trade may also involve a third team.
The Sharks need to give a trade of this size serious consideration. They need to explore every option, weighing the various possibilities. As any offer they receive will most likely include many assets and conditions, the front office is right to go in-depth on every avenue they have. They should take a close look at every player and draft choice being presented to them while also examining and possibly negotiating salary retention proposals. General manager Mike Grier should also be on the phone with teams other than the Hurricanes and Penguins, determining which clubs might be the third party in a trade and what their role might look like.
A trade of Karlsson is certain to be a blockbuster, and the Sharks have the entire offseason to pull it off. They can afford to be as deliberate in their decision as possible.
Sharks Should Try to Get the Best Value Possible for Karlsson
Obviously, every team wants to maximize their haul when making a trade. But given Karlsson’s phenomenal 2022-23 campaign, his value has never been higher, and the Sharks should hear multiple offers from any interested teams.
Related: Sharks’ Lack of a Karlsson Trade Continues to Jam Up the League
Trades are always a negotiation between the involved parties, and the Karlsson saga epitomizes this perfectly. By going slowly with trade talks, the Sharks may be able to create leverage in discussions, inducing the Penguins or Hurricanes to increase their offers. If those front offices do not add more to their bids, the Sharks can then decide which offer to take knowing that they are getting the best possible return. They could even be buying time for an entirely new team to enter the discussion with a package that beats the ones being dangled by the current suitors. Regardless of which team the Sharks talk to, their methodical attitude allows them to determine the maximum amount available in exchange for Karlsson before they make a move. A faster approach might not yield the same results.
The time for the Sharks to trade Karlsson is this summer, and if they do, they will pull it off by listening to all the possible options before settling on the best one.
Sharks’ Salary Cap Situation Is Not Desperate
With Karlsson on the roster, the Sharks are about $5.5 million under the salary cap. And while they’d certainly like to reduce his cap hit by trading him, they are not scrambling to do so.
The Sharks are currently in a period of non-competitiveness. The team doesn’t expect to make the playoffs next season. As such, they aren’t in any rush to make any big free agency moves or trade for any splashy, high-impact players right now. Instead, they are trying to plan for the future and structure their roster in a way that makes them ready to contend in a few seasons. This is true both from a personnel perspective and a financial perspective. In Karlsson’s case, trading his contract is the right move. But the Sharks don’t need to take the first offer they receive in order to free up space to sign new players, as they might if they were a playoff team currently. Instead, they can deliberate over which trade will set them up the best in the big picture.
The Sharks are starting a new era of their franchise, and a trade of Karlsson might be the final step in turning that page. But it makes complete sense for the front office to take their time in doing so.
