Rumor: The latest on potential Crosby, Malkin and Letang trades out of Pittsburgh

NHL insider Elliotte Friedman is reporting on some potentially big trades coming from Pittsburgh Penguins GM Kyle Dubas, following Tuesday's Lars Eller trade.

All eyes are on veteran blue liner Erik Karlsson, but Friedman reports that Karlsson is unlikely to be moved this season due to the fact that he has a no-trade clause and an $11.5 million contract. However, Friedman reports that a move next season could be consummated.

From Friedman's latest 32 Thoughts column for Sportsnet:

Erik Karlsson? Again, he’s got control. So it’s going to be up to him. Look at his contract structure, though. The salary drops from $11 million now to $9 million (2025-26), then $7.5 million(2026-27), and San Jose has a bit of retention. A big chunk of next year’s money is a $5-million signing bonus. He was traded from the Sharks to Pittsburgh on Aug. 6, 2023, so, if a similar blueprint is followed, that’s even less of a financial commitment for an acquiring team.

Karlsson is taking a lot of heat locally and internationally — long-time Swedish league and national team GM Johan Garpenlov told Radio Sporten the defenceman’s play is too much of a risk for the 4 Nations Face-Off — but, as the salary drops, it’s not wrong to believe there would be interest. He’s still very, very talented.

- Elliotte Friedman

I'll say it right now... there's no way that Karlsson is a Penguin by this time next year. That's just my prediciton.

As for the likes of Sidney Crosby, Evgeni Malkin and Kris Letang? I don't think they're going anywhere. And neither does Friedman.

Again from Friedman's most recent 32 Thoughts column:

If Sidney Crosby wished to go anywhere else, he wouldn’t have extended with the Penguins. The only way I could ever see it changing is if reality hit him harder than he expected. I don't see that right now.

I don’t believe Pittsburgh wants to trade Evgeni Malkin, and I don’t believe he wants to go anywhere else.

Kris Letang has a no-move for three more seasons. Even if he wished a new address, it’s not going to be easy. No one disrespects Letang, fiercely prideful and determined. But his history of injuries and ailments make trading for the 37-year-old a gamble. And, it is difficult to know exactly how it all works, but NHL contracts can be uninsurable for pre-existing conditions. That’s a worry with him.

- Elliotte Friedman

Yeah... they're not going anywhere. And to be perfectly honest, I feel like all three of these players have earned the right to retire as Penguins.

Read below for our earlier Penguins report on Karlsson concerning Team Sweden.

The NHL's invitational '4 Nation Faceoff' doesn't begin for another three months, but teams are expected to release their rosters for the tournament in just over two weeks' time.

Why is the NHL insistent on releasing teams nearly an entire quarter of a year before the event I'll never know... but then again not a lot about this tournament makes much sense to me. It's essentially just a four team exhibition series played in the middle of the NHL season. Pass.

In any case, despite my feelings on the tournament there certainly are fans out there with genuine enthusiasm. Will Connor Bedard crack Canada's roster? Who starts in net for USA? Oh... and why can't Russia play again?

I jest on my last question, but there are a lot of serious unanswered questions with this tournament just three months out. What will Team Sweden look like? There's no denying that the country's hockey program is in a bit of a transition. The previous generation's superstars like Henrik Lundqvist, Nicklas Backstrom, and the Sedin twins have given way to the likes of Jacob Markstrom, Elias Pettersson and William Nylander. The Swedes carry considerable fire power up front with Pettersson, Nylander, Filip Forsberg, Mika Zibanejad, William Karlsson and Elias Lindholm. On the blue line they boast Victor Hedman who is about as close to Nicklas Lidstrom as you'll find these days. Behind Hedman they've got a solid D corps with Mattias Ekholm, Rasmus Dahlin, Hampus Lindholm, Rasmus Andersson, Gustav Forsling and Oliver Ekman-Larsson. Oh yeah... and former 100+ point man Erik Karlsson. At least, depending on who you ask...

Former Team Sweden head coach Johan Garpenlov recently ripped Karlsson on Radiosporten, saying that the veteran defenseman doesn't deserve a roster spot on the team.

“Every match is so important and then you can’t afford to make these big mistakes like Erik Karlsson unfortunately does,” Garpenlöv to Radiosporten (translation via Google Translate).

Karlsson has struggled mightily in his two years since being acquired by the Pittsburgh Penguins. He had an absolutely remarkable campaign in 2022-23 with the San Jose Sharks, winning Norris Trophy as the NHL’s top defenseman after putting up 25 goals and 101 points. Penguins GM Kyle Dubas acquired Karlsson in a blockbuster deal that has been an awkward fit from the very start.

After a 45 point drop off last season, Karlsson has just 10 points in 17 games to start this season... a season that has the Penguins amongst the NHL's bottom feeders.

It's clear that Karlsson isn't fitting in in Pittsburgh and I'm willing to bet that he was looking forward to the 4 Nations Faceoff as a way to distract himself from an awful season. Will he be afforded that opportunity though?