In late October, TSN's Pierre LeBrun reported that the San Jose Sharks were willing to entertain offers for nearly everyone on the roster, perhaps with the exception of Tomas Hertl. Roughly two weeks later, Sharks general manager Mike Grier told reporters he would listen if any club made a trade proposal for defenseman Erik Karlsson.
Grier didn't sound like he was pushing for a deal, as he praised the 32-year-old's value to the Sharks and how much he and his family love living in San Jose. Grier also noted any trade would require Karlsson's blessing due to the full no-movement clause in his contract.
Karlsson currently leads all NHL blueliners with 11 goals and 32 points in 24 games, but the Sharks are struggling to keep pace in the Western Conference. It makes sense to put out trade feelers in case they become a seller near the March 3 trade deadline.
A gifted puck-moving rearguard, Karlsson would bolster any team's blue line. However, his contract will be tough to move. Along with his no-movement clause, he carries an $11.5 million cap hit each year through 2026-27. Given how many clubs have less than $10 million in cap room, it's unlikely that anyone will take on his full cap hit during the season.
Grier could agree to retain a portion of Karlsson's cap hit to facilitate a trade. He absorbed 33 percent of Brent Burns' $8 million cap hit when he shipped the hirsute blueliner to the Carolina Hurricanes in mid-July.
Here's our take on six potential landing spots for Karlsson and what each club might have to give up in return.
Dallas Stars
After advancing to the 2020 Stanley Cup Final, the Dallas Stars missed the postseason in 2021 and were eliminated from the opening round last season by the Calgary Flames. They could move into Stanley Cup contention for the foreseeable future by acquiring a defenseman like Karlsson.
The Stars possess a good mix of veterans such as Joe Pavelski, Jamie Benn, Tyler Seguin and Ryan Suter and rising talent like Jason Robertson, Jake Oettinger, Miro Heiskanen and Roope Hintz. If Karlsson doesn't want to stray from the warm weather, Dallas could be a tempting destination.
With $62.9 million committed to 14 players next season, the Stars can't afford Karlsson's full cap hit, but they could take on more than 50 percent of it. He'd be a great fit on the right side of Heiskanen, Suter or Esa Lindell on the Stars' blue line.
The Stars have already traded away their 2023 first-round pick, but they could offer their 2024 first-rounder for a star like Karlsson. Denis Gurianov could also be as part of the return, as the struggling winger might benefit from a change of scenery. They'd also likely have to give up a promising youngster like Wyatt Johnston and a prospect or two such as Mavrik Bourque or Lian Bichsel.
Florida Panthers
Having won the Presidents' Trophy in 2021-22 for the first time with a franchise-record 122 points, the Florida Panthers are struggling to replicate that success this season. The absence of MacKenzie Weegar, whom they traded to the Calgary Flames as part of the return for Matthew Tkachuk in July, depleted their blue-line depth.
Acquiring Karlsson would bolster their defense, removing some of the burden from top blueliner Aaron Ekblad. Both are right-side defensemen but the Panthers could try shifting one of them to the left to put them on the same pairing or have them skate on separate pairings.
In a recent episode of his 32 Thoughts podcast, Sportnet's Elliotte Friedman floated the Panthers as a potential destination for Karlsson. He noted that the cap-strapped club would gain some salary flexibility next season. They'll have $12.2 million in cap room and could gain more if they send some salary to San Jose for Karlsson, provided the Sharks retain part of his cap hit.
The Sharks could seek a versatile forward such as Sam Bennett or Carter Verhaeghe as part of the return. They could also ask for promising center Anton Lundell as part of the deal. It could also cost the Panthers a few promising prospects, as they've traded away their first-round picks for the next three drafts.