After a surprisingly strong start to the 2025-2026 season, Erik Karlsson and the Pittsburgh Penguins appear poised to end up where they have been the last three years: not good enough to make the playoffs, but not bad enough to hit rock bottom and secure a top-five draft pick.
There may not be a worse place to be in the sport, and soon general manager Kyle Dubas could have to take matters into his own hands by selling even more aggressively than he has in recent years.
Karlsson, who is having his best season yet as a Penguin, has surfaced in trade rumors during his time in Pittsburgh, though nothing ever came close. But now that the team has crashed back to Earth, reporter Dan Kingerski wonders if Dubas could opt to move the star defenseman sooner rather than later, especially now that his value is so high.
Kingerski wrote:
“Carolina was in pursuit of Erik Karlsson before Penguins GM Kyle Dubas snagged him in August 2023. Karlsson has been quite good this season, even as public frustrations that have severely built up over a mediocre first few seasons continue… It wouldn’t be a shock for Dubas to strike while the Karlsson iron is hot, just as he did in the Tristan Jarry-Edmonton trade two weeks ago,”
The 35-year-old Karlsson is in year seven of the eight-year, $92 million contract extension he signed with the San Jose Sharks in 2019. He scored 26 points (three goals, 23 assists) in 36 games played this season for 59 points, which would be his most productive campaign as a Penguin.
Who else could target Erik Karlsson?
Carolina makes sense as a landing spot for Karlsson, but the list of potential candidates certainly doesn’t end there. His rejuvenated play as we reach the end of that big contract should generate interest from teams around the league, especially if Dubas is willing to eat some salary to secure a better return.
The Detroit Red Wings have previously been linked to the three-time Norris Trophy winner and could still use an offensive boost to their blue line, as could the Toronto Maple Leafs, who may be willing to get creative thanks to their slow start to the season. Meanwhile, the Florida Panthers, Dallas Stars and Vegas Golden Knights are always cash-strapped but often find ways to make deals work. Not to mention that a reunion in Ottawa with the Senators can seemingly never be ruled out.
Any potential deal will require flexibility on both sides, but if Pittsburgh continues to struggle and slide in the standings, expect Karlsson – along with other veteran Penguins – to dominate trade talks leading up to the March 6 deadline.
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