The much discussed and long-rumored Erik Karlsson trade finally came to fruition today. The three-time Norris Trophy winner is officially a Pittsburgh Penguin! Placing the cherry atop a reconstruct by Kyle Dubas ambitious as it was whirlwind in nature.
Frankly, I’m still trying to digest the details of the three-way blockbuster, which involved the Pens, Sharks and Canadiens. Perhaps the most complex deal this side of Craig Patrick’s three-team swap involving the Flyers and Kings (and, fittingly, Karlsson-alike Paul Coffey) I’ve witnessed in all my years of following hockey. But here goes:
From San Jose the Pens get Karlsson, fresh off an astounding 25-goal, 101-point season for the ages, and 22-year-old forward prospect Dillon Hamaliuk, a former second-round pick who stands 6’3” and tips the scales at 200 pounds. We also get the Sharks’ third-round pick in the 2026 Entry Draft.
The Sharks will retain $1.5 million of Karlsson’s hefty $11.5 million cap hit. Meaning we’re on hook for a cool $10 mil/season.
From Montreal, the Pens acquired 26-year-old bottom-six forward Rem Pitlick. A former third-round pick of the Predators, Pitlick’s displayed a modest scoring touch (21 goals in 123 games) at the NHL level. For better or worse, he fits coach Mike Sullivan’s mold of small (5’11” 186) puck-retrieving forwards.
Catching the stage coach heading out of town? Jeff Petry and his $6.25 million cap hit return to Montreal from whence he came last summer. (Actually, the Pens are retaining $1.562 million per season.) Joining Petry in the trek north of the border is Nathan Légaré, the 22-year-old firebrand forward prospect who returns to his home town after failing to gain traction in two seasons with the Baby Pens (a combined 15 goals).
Casey DeSmith, our backup goalie for the better part of five of the past six seasons, will likewise join the Canadiens. The Habs also get our second-round choice in the ’25 draft.
Pulling a virtual rabbit out of his hat, Dubas also traded the untradeable, shipping pariah Mikael Granlund and his $5 million cap hit to the Sharks along veteran defenseman Jan Rutta and our first-round choice next season (top-10 protected). The Sharks also got Montreal forward Mike Hoffman.
A few observations. I’m surprised Granlund was moved. In the wake of Jake Guentzel’s recent season-delaying ankle surgery, I thought the Finnish forward might serve as a top-six Band-Aid. With the dual departures of Petry and Rutta, Dubas almost totally erased Ron Hextall’s overhaul of our defense last summer, designed to provide a physical presence. Although he surrendered draft picks, our newly minted GM refrained from moving any of our top prospects, including first-rounders Brayden Yager, Owen Pickering and Sam Poulin.
Financially, the deal brings us within shouting distance of being cap compliant. We’re $79 K and change over the line, according to CapFriendly.
My initial knee-jerk take? Karlsson will certainly spice things up and add some pizazz to our power play and transition game, while greatly enhancing our shot at a postseason berth. To say nothing of sparking a renewed interest among Penguins Nation.
However, a quick glance at our top-six d of Karlsson, Kris Letang, Ryan Graves, Marcus Pettersson, Pierre-Olivier Joseph and…I guess…Chad Ruhwedel, gives me cause for concern. Graves and Pettersson aside, there’s just very little in the way of a defensive conscience and even less physicality.
It’s group (and team as a whole) very much built in Sullivan’s image.
It remains to be seen if that’s a good thing.
Anyway…back to the trade…and Dubas. Win, lose or draw, I give him a helluva lot of credit for having the courage of his convictions and for getting ‘er done. Not every GM could pull off a trade of this magnitude.
Prior to his arrival, the Pens were stale as month-old bread and badly in need of a shakeup.
Mission accomplished.
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Hey Rick,
Very good article my friend. You summed it up very well. If anything Dubas made the Penguins news worthy again and the fan base should respond. More tickets sold and more merchandise as well. This is a great day for our team.
Like you I give him full marks for doing what he said he would do at his first news conference." Any time a player of the caliber of Erik Karlsson comes available it is incumbent of me to see if we can add him to our team ". He did it and he did not mortgage the future to badly. Plus as Phil said he moved several players that had very little value due to their bad contracts that he inherited..
If I may Rick now that the trade is finally done I would like to add a few other benefits that we meed to consider.
1. Sidney Crosby, Sidney Crosby,Sidney Crosby!!! EK said in his Swedish news conference that he talked with Crosby often.!!! With EK running the power play and possibly a new right winger for Crosby come December Sid will get 110 to 120 points this year and he will definitely resign a contract extension next year.
Before this trade there was no certainty Sid would resign next year.Now all that has changed.How can you put a price on that ? That alone is worth what we paid to get EK..
2. We worry about the third defensive pairing ? I do not believe Dubas is done trading. He could trade Ty Smith, pick up another UFA and bundle them together to get a solid #4 or #5 two way d man,( hopefully with some size and grit ) and shore up the third pairing. He has options so I am not to worried about that. .
3. Goal tending. If Jarry falters Dubas still can make a trade during the season to remedy the situation. So it really depends on Jarry whether he stays with the Pens or not.That is why Dubas brought all those extra Goalies..Almost like he expected to need them in 2023-24.
4. Forwards. I believe Dubas will continue right up to the trade deadline in February to try and upgrade our top nine and for the right deal I believe he will move some big name players who are not pulling their weight.
So for me this just shows what a great hockey mind he has and the team is is in capable hands moving forward.
Their is a real vision and if we falter he won't wait 2 years to make course corrections Rick. These past 3 or 4 years I have felt like the Pens were like a rudderless ship drifting in the Ocean .Now we have a real skipper running the show.
While I may not agree with his every move for the first time in the past 3 years I have hope again that we will make the play offs and just maybe have a long run.
Cheers
Jim
Hey Jim,
Great comments, my friend, and I'm pretty much in agreement with you right down the line. If you take a snapshot of what the team looked like at the end of the season and what it looks like like now...well...there's no comparison. In two short months Dubas basically erased all of Hextall's most egregious mistakes.
The defense alone should be light years better in overall effectiveness with the additions of Karlsson and Graves (and the subtractions of Petry, Dumoulin and Rutta).
Like you, I don't agree with everything he's done. I think he's following Sully's specs a little too closely...we could really use a shot of functional size and aggression. But there's no denying he's got a plan and he's executing it to a tee. And he's obviously a brilliant hockey mind.
We're in good hands, my friend...
Rick
Hey Rick,
As I wrote during the whole hype leading up to this trade, it was inevitable that it would happen; inevitable because it is the last thing I wanted to see happen.
Quick point here Rick, When the Pittsburgh Penguins Plucked Paul Coffey, that defenseman was 26, just about to enter his prime (27 – 33 are the prime years for D-men). Erik Karlsson is 33 years ol about to start his last season in the sweet spot.
Also, Dubas is retaining $1.5625 mil not $1.5625 K. therefore the $1.5 mil of Karlsson’s contract is a wash. We actually pick up $62.5k per season for the 1st 2-seasons Karlsson is here.
I won’t argue that Dubas has changed the face of the Penguins or that, at least on paper, the projected roster, when Guentzel gets back is better than the post trade deadline team that lost its last 2 games to cellar-dwellers, but it pretty much only brings them back up to a bubble team, not a contender.
For me the only good news is the 1st round pick he gave away is top 10 protected.
Hey Other Rick,
Thanks for pointing out the error on Petry's salary retention. I was scrambling to post something reasonably coherent and completely overlooked that aspect of the trade at first.
I went ahead and made the correction as you so duly noted.
Rick
Hey TOR,
I'm not going to go out on a limb and say this is a great trade. Any time that the Penguins bring in a world class talent that I can watch and root for all season is a win in my book, win or lose.
It is duly noted that you think this will go as bad as Brassard.
Well see how it goes.
Good article..
Does he make us better??
Yes I think so.
1. Attendance should go up fir all home games again.
2. Got rid of bad contracts and players.
3. Penguins will sell more Karlsson jerseys and t-shirts....FSG makes more $$.
4. EK helps us win more = playoffs??
Hopefully!
5. Like I also mentioned, Dubas didn't mortgage the future.
This trade and free agents signed will Hopefully energy the rest of the players already here.
Obviously the big question or concern going forward will be health during the season....Sid and Geno and Jarry.
Contender?? I don't know.
Playoff bound?? Yeah, I think so.
Dubas has done a really good job...totally changed the Penguins.