Karlsson gets eight-year extension from Sharks
The most coveted pending free agent defenseman won’t be making it to the dance.
TSN’s Bob McKenzie reported Monday that “all signs” point to two-time Norris winner Erik Karlsson re-signing with the Sharks, the only team that can offer the talented 29-year-old Swede an eight-year deal.
Not long after, fellow TSN insider Pierre LeBrun reported that the deal was done.
And then official announcement came from the team.
“We are extremely pleased that Erik and his wife Melinda have committed to the San Jose Sharks and that they have done so prior to July 1,” said Sharks general manager Doug Wilson in a statement. “Players with Erik’s elite level of talent are rare and when they become available, it’s important to be aggressive in pursuing them. He is a difference maker who consistently makes the players around him better. We are pleased that he has been proactive in addressing his injury from last season and are looking forward to him being part of our organization for a long time to come.
The Sharks wouldn’t disclose the terms of the deal, but according to McKenzie it’s in the $11.5 million per year range, making the total worth of the contract around $92 million. -- in the realm of the $88 million Los Angeles Kings defenseman Drew Doughty got last year.
Erik Karlsson #Sharks— CapFriendly (@CapFriendly) June 17, 2019
8 years / $11.5M AAV ($92M Total)
2019-20: $3.5M + $11M SB
2020-21: $2M + $10M SB
2021-22: $5.5M + $9M SB
2022-23: $2M + $10M SB
2023-24: $10.5M + $1M SB
2024-25: $10M + $1M SB
2025-26: $4M + $5M SB
2026-27: $1.5M + $6M SB
Full NMChttps://t.co/PqJahZZLc1 pic.twitter.com/Fgu9Powq2F
The deal is the largest in Sharks’ history, besting both Brent Burns’ and Logan Couture’s eight-year, $64 million extensions.
The deal keeps Karlsson from hitting the open market, of course, on July 1. It also makes sure he doesn’t hit the courting period, which begins on June 23. The Sharks were the only team that could offer Karlsson the max eight years.
“I’m super excited to continue my journey with the Sharks,” said Karlsson. “Since my first day here, I have only good things to say about the people, organization and the fans. The entire Bay Area has been extremely welcoming to me and my family. I appreciate that and we can’t wait to spend the next eight years in San Jose.
“As far as hockey goes, I’m excited to continue the chase for the ultimate prize: the Stanley Cup. Last year was an unbelievable run but we didn’t achieve what we set out to do. But the dedication I witnessed from my teammates, coaches, staff and organization showed me that we all have a great future ahead of us, and that we are capable of fighting for that championship year in and year out.”
San Jose’s gain is a big loss to a few other teams that were in contention, including the Philadelphia Flyers, New York Rangers, Montreal Canadiens and Tampa Bay Lightning, among others reported -- perhaps even a stunning return to Ottawa, as reported earlier this month.
[MORE: Sharks set to sweat salary cap after Karlsson extension]
Karlsson was traded to the Sharks last summer by the Senators, the team that drafted him 15th overall in 2008 and one he put on his back in 2017 as the Sens marched to the Eastern Conference Final before losing in overtime in Game 7 to the Pittsburgh Penguins.
At the time, the move appeared to provide the Sharks with a defensive core to die for.
Karlsson joined Burns and Marc-Edouard Vlasic, and other solid pieces that were supposed to carry the Sharks deep into the playoffs.
“It’s extremely rare that players of this caliber become available,” Wilson said at the time of the trade. “The word ‘elite’ is often thrown around casually but Erik’s skillset and abilities fit that description like few other players in today’s game. With Erik, Brent Burns and Marc-Edouard Vlasic, we feel we have three of the NHL’s top defencemen and stand as a better team today than we were yesterday.”
Karlsson started slow with the Sharks but regained his stride along the way, finishing with 45 points in 53 games. But it’s that game total that was a big issue throughout the year.
Karlsson dealt with multiple groin injuries right up until the Sharks were eliminated by the St. Louis Blues in the Western Conference Final. Karlsson had to watch the decisive Game 6 in that series from the press box as the nagging problem.
It’s not the ideal season, but the Sharks appear fine with gambling on that groin after Karlsson had surgery on it earlier this month.
It will be interesting to see how the Sharks navigate the salary cap after the Karlsson deal. It appears someone will have to go from the UFA pack of Joe Thornton, Joe Pavelski, Joonas Donskoi and Gustav Nyquist. Thornton and Pavelski would command the most in terms of dollars (perhaps there’s room for one-year, low-salary, bonus-laden contracts for both.
The Sharks also have Timo Meier and Kevin Labanc, both restricted free agents in a need of a raise.
Meanwhile, attention for a top-pairing defenseman should now shift to Winnipeg Jets rearguard Jacob Trouba.
Trouba’s a restricted free agent but is likely to be dealt at some point this week or at the 2019 NHL Draft this coming weekend. A 50-point d-man last year, Trouba is a solid top-pairing defenseman that can play in all phases of the game.
The issue with Trouba at the moment is that any team willing to pay Winnipeg’s price tag needs to be darn certain they can extend him.
A small piece of consolation in Ottawa: The Senators will gain San Jose’s 2021 second-round selection because of the extension for Karlsson.