NHL Rumors: Key reason for Erik Karlsson trade holdup explained by insider 

Erik Karlsson, the reigning Norris Trophy winner, has been the talk of the trade market since he expressed his desire to leave the San Jose Sharks and join a Cup-contending team.

Erik Karlsson is coming off one of the best offensive seasons by a defenseman in NHL history. On the other hand, the Sharks, understand the value of Karlsson and expect a significant return for the defenseman.

However, this is one of the factors impeding this trade. According to NHL insider Frank Seravalli, due to Karlsson's age, massive cap hit of $11.5 million (even if the Sharks decide to eat some percent of his contract), and defensive shortcomings, teams interested in Erik Karlsson are unwilling to give the Sharks anything significant for his services.

"But the sharks are still looking for a significant return for Erik Karlsson. And they haven't found one team that's willing to give them anywhere close to that. And so those teams have all essentially sat back."

"So I think the hang up has been a little bit along the same lines of what we heard back at the trade desk, which is the sharks are looking for a significant deal, and they're not properly valuing the cap space, the freedom, the flexibility from getting off of an 11 and a half million dollar player. And that's really what's holding this back," Frank Seravalli said on DFO Rundown

Pittsburgh Penguins remain the frontrunner to land Erik Karlsson

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The Pittsburgh Penguins are among the teams interested in signing the reigning Norris Trophy winner. The Penguins remain the frontrunners in the race to sign Karlsson, with the Penguins' newly elected President of Hockey Operations Kyle Dubas expressing his desire to sign Karlsson in the past.

Not only Dubas, but Penguins icons Sidney Crosby and Kris Letang have also expressed their full support for this blockbuster trade. However, the Penguins, like other teams pursuing Karlsson, are finding it difficult to make a trade for the Norris Trophy winner.

One of the most-significant factors complicating this trade is Karlsson's massive cap hit, and as previously stated, the Penguins may require the assistance of a third team to complete the anticipated trade package requested by the San Jose Sharks.

Apart from the Pittsburgh Penguins, Karlsson has himself spoken to the likes of the Toronto Maple Leafs, Carolina Hurricanes, and the Seattle Kraken over a possible trade.