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NHL Analyst Delivers Crucial Update on Leafs' Erik Karlsson Trade Talks


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Jack Sutherland
July 20, 2025  (6:55 PM)
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Penguins defenseman Erik Karlsson
Photo credit: Pittsburgh Hockey Now

Per NHL analyst Chris Johnston, the Pittsburgh Penguins don't plan on just giving away defenseman Erik Karlsson, who is heavily involved in trade rumors.

Most indications point toward the Pittsburgh Penguins going through some rough times in the next few years, especially with a new rookie head coach in Dan Muse behind the bench and several key players likely to be traded.
Players like Bryan Rust and Rickard Rakell have been heavily involved in recent trade rumors, along with defenseman Erik Karlsson.
Penguins GM Kyle Dubas would love to find a taker for Karlsson to get a significant portion of his $11.5 million AAV (average annual value) off the books, as they'd have to retain salary in any deal they make.
Per NHL analyst Chris Johnston, the Penguins aren't just going to give him away and aren't going to retain anywhere near half of his salary in the event of a trade.
The Karlsson thing -- it's a stretch for me. He makes $10M against the cap right now, and I can tell you for certain Pittsburgh is not just giving him away. They're not of a mind of 'We've got to get him off the team'. They're not going to retain half of that for anybody... if you were ever removing Morgan Rielly, maybe I could see the argument to replace him with Karlsson and maybe you can make the money work, but that's two significant trades -- two guys who have no movement clauses. That's very much sitting around in mid-July like 'Hey, wouldn't this be kind of cool?', and I'm not sure how much reality is in there.


Karlsson, who is coming off his 2nd year with the Penguins, recently won the Norris Trophy as the League's top defenseman. But his stats have dropped since coming to Pittsburgh, who have missed the postseason in each of the last 3 years.
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NHL Analyst Delivers Crucial Update on Leafs' Erik Karlsson Trade Talks

Will the Penguins end up trading Erik Karlsson before the new season starts?

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