Report: Penguins willing to trade Karlsson

The Pittsburgh Penguins are open to trading veteran defenseman Erik Karlsson, sources told The Athletic's Josh Yohe.

General manager Kyle Dubas would move Karlsson "in a heartbeat," according to Yohe, but a variety of obstacles stand in the way of a potential blockbuster - particularly before the March 7 trade deadline.

Karlsson has a full no-move clause and two more seasons on his contract at a $10-million cap hit. The San Jose Sharks are paying $1.5 million of Karlsson's salary as part of the deal that sent him from the Bay Area to Pittsburgh in 2023.

The market for Karlsson could pick up steam in the offseason, as the salary cap is projected to rise to $95.5 million for the 2025-26 campaign. The Penguins will have all three salary-retention slots open this summer to potentially help facilitate a Karlsson trade.

Dubas acquired Karlsson in his first impact trade with the club after being hired as GM and president of hockey operations. Fresh off a 101-point season with the Sharks, Karlsson was supposed to inject life into the final stages of the Sidney Crosby era. Instead, he's struggled to fit in Pittsburgh, and the Penguins are on track to miss the playoffs for the third consecutive year.

Karlsson's notched 40 points in 59 games this season while averaging over 23 minutes per night. He also had an impressive showing with Sweden at the 4 Nations Face-Off this month.

The 34-year-old is a three-time Norris Trophy winner and five-time All-Star. He ranks 15th in NHL history in points by a defenseman with 857 over a 16-year career.