Sharks

Sharks acquire fourth-round pick in three-team Foligno trade

Sharks
Nick Foligno shoots vs. Sharks

The Sharks used their salary cap space to acquire a 2021 NHL Draft pick on Sunday.

San Jose acquired forward Nick Foligno from the Columbus Blue Jackets, with Columbus retaining 50 percent of Foligno's $5.5 million-per-year contract. The Sharks, retaining 25 percent of Foligno's contract, then traded Foligno and forward Stefan Noesen to the Toronto Maple Leafs in exchange for Toronto's 2021 fourth-round pick.

The Maple Leafs also traded a 2021 first-round pick and a 2022 fourth-round pick to the Blue Jackets. 

For the remainder of the season, the Sharks will have $1.375 million of Foligno's cap hit on the books, adding a mid-round pick for their troubles. After trading goaltender Devan Dubnyk to the Colorado Avalanche for a 2021 fifth-round pick on Saturday, San Jose now has eight picks in the upcoming draft.

Before the weekend, the Sharks only had six selections.

The Sharks waived Noesen in February, just a few months after re-signing the hard-nosed winger to a one-year contract. The 28-year-old didn't record a point in five games with the Sharks this season, scoring six points (two goals, four assists) in the AHL with the Barracuda.

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The Athletic's Pierre LeBrun reported last month that the Sharks were willing to "rent" their cap space in exchange for draft picks, and San Jose still has an opportunity to do just that ahead of Monday's noon PT trade deadline. Per Cap Friendly, the Sharks still have over $9 million in deadline cap space after retaining Foligno's salary, and players whose salaries they can retain remain available.

 

Taylor Hall, for instance, has an $8 million cap hit, and no contender will be able to absorb his salary outright. If the Buffalo Sabres want to maximize their return for the pending unrestricted free agent, they'll need to retain salary, and the Sharks conceivably could help the Sabres lower Hall's cap hit by retaining some of that salary.

Let's see if the Sharks can pull off another similar deal ahead of Monday's deadline.