Report suggests that an Erik Karlsson trade may involve three teams instead of two, reveals how it would break down

As summer wears on, it's become more clear that we're likely to see an Erik Karlsson deal at some point. Now it just appears to be more a question of where he goes and how much the Sharks retain on his $11.5M cap hit for four more seasons.

The Penguins, Hurricanes, Leafs and Kraken are the four teams most commonly linked to Karlsson so far this summer, so the likelihood that it will end up being one of these teams is pretty solid, but one reporter believes the Pens have the edge and that a third team may be involved in a potential deal.

Per Sheng Peng of San Jose Hockey, the Chicago Blackhawks may come in to help broker the deal between Pittsburgh and San Jose.




We know that the Sharks are hesitant to retain any more than 20% of Karlsson's deal, but this deal, as reported by Peng, would have the Sharks retaining 39% ($4.5M) on Karlsson.

Going the other way would be Ty Smith, Samuel Poulin and a 2025 2nd round pick that would turn into a first if Pittsburgh won the Stanley Cup in 2024 or 2025. The Penguins would also send Jeff Petry and a conditional draft pick in 2024 to the Chicago Blackhawks, as Petry won't play for San Jose.

Obviously a Karlsson trade would be complex either way, but this just illustrates how difficult this trade would be to facilitate.