Erik Karlsson is a Swedish professional ice hockey defenseman, playing for the Pittsburgh Penguins in the NHL, as of 2024. Born on May 31, 1990, in Landsbro, Sweden, he was drafted 15th overall by the Ottawa Senators in the 2008 NHL Entry Draft. Karlsson spent nine seasons with the Senators before moving to the San Jose Sharks and later joined the Penguins. He has established his name in the league by bagging the James Norris Memorial Trophy thrice in 2012, 2015, and 2023. Additionally, he has been named to multiple NHL All-Star Games and NHL All-Star Teams. Karlsson has been recognized with the Viking Award in 2012, 2016, and 2017, awarded to the annual best Swedish ice hockey player.
Erik Karlsson's Contract Breakdown
According to Spotrac, Erik Karlsson signed an eight-year, $92 million contract with the San Jose Sharks in the 2019-2018 season, including a massive $53 million signing bonus. His average annual salary is $11.5 million, with the deal set to expire in 2027 when he becomes an unrestricted free agent. His cap hit remains consistent at $11.5 million throughout the contract. However, he is now playing for the Pittsburgh Penguins under the same contract.
| Year | Age | Cap Hit | Annual Cap % | Cash Earned | Cumulative Cash |
| 2019-20 | $29 | $11,500,000 | 14.11% | $14,500,000 | $14,500,000 |
| 2020-21 | $30 | $11,500,000 | 14.11% | $12,000,000 | $26,500,000 |
| 2021-22 | $31 | $11,500,000 | 14.11% | $14,500,000 | $41,000,000 |
| 2022-23 | 32 | $11,500,000 | 13.94% | $12,000,000 | $53,000,000 |
| 2023-24 | 33 | $11,500,000 | 13.77% | $11,500,000 | $64,500,000 |
| 2024-25 | 34 | $11,500,000 | 13.07% | $11,000,000 | $75,500,000 |
| 2025-26 | 35 | $11,500,000 | 13.07% | $9,000,000 | $84,500,000 |
| 2026-27 | 36 | $11,500,000 | 13.07% | $7,500,000 | $92,000,000 |
| 2027-28 | 37 | UFA | - | - | - |
How much is Erik Karlsson getting paid?
Karlsson's base salary for the 2024-2025 season will be $10,000,000 and a signing bonus of $1,000,000 while carrying a cap hit of $11,500,000. His average annual salary is $11,500,000 under his eight-year $92,000,000 contract, as per Sportrac.
What are the terms of Erik Karlsson’s contract?
Karlsson's eight-year contract has no additional terms. However, he is playing for the Pittsburgh Penguins under the same contract. His former team San Jose Sharks agreed to keep paying $1.5 million of his salary each year until 2026-27, even though he now plays for the Pittsburgh Penguins. This is called a 'dead cap hit' and happens when a team retains part of a player's salary after a trade, as per Sportrac.
How much of Erik Karlsson’s contract is guaranteed?
Karlsson’s eight-year $92 million contract is fully guaranteed, including $53 million as a signing bonus and an average annual salary of 11.5 million, as per Sportrac.
Erik Karlsson's Career Earnings
Erik Karlsson's career earnings total $111,429,878 as of 2024. His forecasted career total will increase significantly, considering his future contracts. For the 2024 season, he is set to earn $11,000,000 followed by $9,000,000 in 2025 and $7,500,000 in 2026. These earnings will bring his total projected career earnings to approximately $138,929,878 by the end of the 2026 season, as per Sportrac.
Erik Karlsson's Contract History
Erik Karlsson has signed a total of three contracts in his NHL career. The details of all his contracts are below:
| Team | Years | Term | Total Value | Average Salary | Signing Bonus | Free Agent Status |
| Ottawa Senators | 2009-2011 | 3 years | $3,900,000 | $1,300,000 | $262,500 | 2012 / RFA |
| Ottawa Senators | 2012-2018 | 7 years | $45,500,000 | $6,500,000 | N/A | 2019 / UFA |
| San Jose Sharks | 2019-2027 | 8 years | $92,000,000 | $11,500,000 | $53,000,000 | 2027 / UFA |
FAQ's on Erik Karlsson
A. Erik Karlsson's contract will expire after the 2026-2027 season.
A. Erik Karlsson will be earnings around 11.5 million annually under his eight-year $92 million contract
A. Erik Karlsson was traded to the Pittsburgh Penguins in 2023 and is still playing with them as of 2024.
A. No, Erik Karlsson has not won any Stanley Cup yet. However, he has earned multiple NHL all-star selections and a three-time James Norris Memorial trophy winner.
