Sharks re-sign Karlsson to 8-year deal worth a reported $92M
The best impending free-agent defenseman isn't hitting the market.
The San Jose Sharks announced Monday that they re-signed Erik Karlsson to an eight-year contract extension. The deal is worth a reported $92 million ($11.5 million against the salary cap), according to Sportsnet's Chris Johnston:
Breakdown of Erik Karlsson's $92M, eight-year extension with #SJSharks:
- Chris Johnston (@reporterchris) June 17, 2019
$11M signing bonus+$3.5M salary
$10M SB+$2M
$9M SB+$5.5M
$10M SB+$2M
$1M SB+$10.5M
$1M SB+$10M
$5M SB+$4M
$6M SB+$1.5M
"I'm super excited to continue my journey with the Sharks," Karlsson said in a club release. "Since my first day here, I have only good things to say about the people, organization, and the fans. The entire Bay Area has been extremely welcoming to me and my family. I appreciate that and we can't wait to spend the next eight years in San Jose."
As a result of Karlsson re-signing with San Jose, the Senators will receive a second-round pick in 2021 from the Sharks
- Pierre LeBrun (@PierreVLeBrun) June 17, 2019
The 2018-19 season was Karlsson's first in the Bay Area after a September trade from Ottawa, and the Swede finished with three goals and 45 points in 53 games. He added two goals and 16 points during San Jose's run to the conference finals.
"As far as hockey goes, I'm excited to continue the chase for the ultimate prize: the Stanley Cup," Karlsson added. "Last year was an unbelievable run but we didn't achieve what we set out to do. But the dedication I witnessed from my teammates, coaches, staff and organization showed me that we all have a great future ahead of us, and that we are capable of fighting for that championship year in and year out."
Karlsson, a two-time Norris Trophy winner, earned $6.5 million against the salary cap last season, the final year on his deal. He remains one of the league's top puck-moving defensemen and would have been in high demand in free agency, which opens July 1.
The new deal will make Karlsson one of the highest-paid players in the NHL, trailing only superstars Connor McDavid and Auston Matthews, according to Cap Friendly.
Doughty signed for 13.8 per cent of cap. If ceiling does hit the projected $83 - Karlsson comes in around $11.45.
- Elliotte Friedman (@FriedgeHNIC) June 17, 2019
Karlsson's extension is the first move in what projects to be a very busy offseason for San Jose. Other notable impending unrestricted free agents include Joe Pavelski and Joe Thornton.
As it stands the Sharks would have roughly $13 million left under an $83 million cap to sign Pavelski, Thornton, Meier (RFA) and Labanc (RFA), which would still leave then with just 11 forwards signed, and doesn't include Donskoi or Nyquist (UFA). Something's got to give.
- Drpon Basu (@ArponBasu) June 17, 2019
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