An update on the Erik Karlsson trade from insider Nick Kypreos

We're nearly one week past the opening of the NHL's free agent period and very quickly headed towards the quietest part of the hockey calendar. Aside from a trickle of signings or some small transactions, there's usually not much happening in the hockey world in the back half of July and August.

Much like last year when we had all eyes on a potential Matthew Tkachuk trade with the Calgary Flames, this offseason we'll be watching Erik Karlsson and the San Jose Sharks to see what transpires. It's not a secret that Karlsson has requested a trade following his outstanding Norris Trophy winning season, but the sticking point is his $11.5 million annual salary.

There are few teams in the NHL who can afford such an expensive contract, but NHL insider Nick Kypreos reports today that Sharks GM Mike Grier is willing to eat $3 million in retained salary in a potential Karlsson deal.

From Kypreos:

That said, no trade (Karlsson) happens without San Jose eating at least part of his $11.5 million cap hit for the next four seasons and it sounds like the Sharks are willing to entertain eating $3 million of it.

- Nick Kypreos

What's even more interesting to me though is that Kypreos reports more teams would be interested in Karlsson if Grier and the Sharks were willing to retain $4 - $5 million per season. 

Multiple teams, however, tell me they’d be more interested if his AAV started with a seven

- Nick Kypreos

If you can get a Norris Trophy calibre defenseman for $7-$8 million per season, I feel like you absolutely HAVE to jump on that.

The thing is... Karlsson isn't getting any younger. Yes, he proved that he's still elite this past season but at what point does he drop off? He still has four more years on his contract and he'll be 34 years old next season. Something's got to give...

The rumors continue to link Karlsson to the Pittsburgh Penguins and/or the Toronto Maple Leafs. Personally though, I'd love to see Karlsson back in Ottawa with the Ottawa Senators. I don't know what it would take to happen, but what a glorious return it would be. Stay tuned.