PITTSBURGH (93.7 The Fan) – The long-rumored trade did indeed happen. The Pens added Norris Trophy winning defenseman Erik Karlsson while ridding themselves of Mikael Granlund and Jeff Petry’s contracts, at least most of them.
It is a three-team trade
· Pens receive Karlsson, forwards Rem Pitlick ($1.1 million) and Dillon Hamaliuk ($789,167) and a third-round pick from San Jose in 2026
· Sharks get Granlund, defenseman Jan Rutta (who the Pens signed just last season), forward Mike Hoffman and the next year’s Pens first-round pick
· Montreal acquires Petry, goalie Casey DeSmith, forward Nathan Legare and the Pens second-round pick in 2025.
*San Jose will pay $1.5 million of Karlsson’s $11.5 million contract. The Pens will pay 25% of Petry’s contract, roughly $1.5 million.
According to Capfriendly.com that puts the Pens slightly over the cap as it stands right now, $79,342 in the hole. Training camp doesn’t start until next month, so time to make moves.
Karlsson is signed through the 2026-27 season and will count $10 million against the Pens camp.