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Penguins Ownership Change Could Have an Unexpected Impact on an Erik Karlsson Trade


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Aaron Itovitch
September 6, 2025  (11:32)
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Pittsburgh Penguins defenseman Erik Karlsson
Photo credit: TSN

The Pittsburgh Penguins are expected to be sold to the Hoffmann family by Fenway Sports Group. This could have an unexpected impact on Erik Karlsson.

Karlsson, whether you love him or hate him, is no longer what the Pittsburgh Penguins need. He's expensive, aging, and doesn't help the team tank in a year with top prospects such as Gavin McKenna and Keaton Verhoeff.
He certainly isn't the three-time Norris winner that lit up the league for the better part of a decade.
However, Fenway Sports Group hasn't given the green light for Kyle Dubas to make a Karlsson trade, as he will likely need to retain as much as $5 million of his current $10 million cap hit ($1.5 million is already retained by San Jose).

Why a Shift in Ownership Could Reshape Pittsburgh's Trade Deadline Strategy

The next iteration of Penguins ownership is expected to put a lot of trust into Kyle Dubas. This means letting him make the bold moves he wants to, which is likely letting Erik Karlsson go. Maximizing his return will require that salary retention.
This was suggested by The Fourth Period:
A Penguins ownership change could impact a Karlsson trade.

Karlsson's Contract, Dubas' Flexibility, and the Uncertain Future in Pittsburgh

The Penguins are entering a unique stage of their rebuild. They require the most flexibility possible as they navigate one of the most dramatic changes to the Penguins in two decades.
The Crosby/Malkin/Letang era is in its twilight, but if memory serves well, as Mario Lemieux was on his way out in the early 2000s, everything worked out in Pittsburgh... We'll see if it happens that way again.
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Penguins Ownership Change Could Have an Unexpected Impact on an Erik Karlsson Trade

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