NHL Rumors: Penguins GM Kyle Dubas open to trade $92,000,000 star D-man ‘in a heartbeat’

Erik Karlsson's tenure with the Pittsburgh Penguins has not gone according to plan. In his first offseason as general manager of the Penguins, Kyle Dubas swung for the fences, acquiring the 2022-23 Norris Trophy winner, hoping to help Sidney Crosby, Evgeni Malkin and Kris Letang push for one more Stanley Cup.

Unfortunately, that hasn't come to fruition in Pittsburgh. Karlsson and the Pens missed the playoffs last season by one point and have taken an even bigger step backward in 2024-25, creeping toward the bottom five of the league standings.

To make matters worse, Karlsson's numbers have dipped substantially from the 101 points he racked up in his final year with the Sharks. He produced 56 points (11 goals, 45 assists) in 82 games last year and is on pace for another 56 points this season.

In Tuesday's article in "The Athletic," Penguins reporter Josh Yohe shared what sources have told him about Karlsson's future with the team.

"One team source told me that, if Dubas could, he would trade Karlsson "in a heartbeat". An Eastern Conference executive told me, "Karlsson is out there, but Pittsburgh would have to retain (salary)," Yohe wrote.

The 34-year-old is in the sixth season of a massive eight-year, $92,000,000 contract. As Yohe mentioned in his article, any team acquiring the star defenseman would need Pittsburgh to retain some of his salary, further complicating things.

Erik Karlsson could excel elsewhere if traded from the Penguins

While Erik Karlsson receives a fair share of criticism, he still possesses elite offensive ability and hockey IQ.

Who knows where the Pens would be without Karlsson? He makes his mistakes and has deficiencies defensively, but he remains one of the league's best offensive defensemen. His skating, vision and skills are on display most nights, but he just has little help around him.

The Pittsburgh Penguins were probably not the right situation for the three-time Norris Trophy winner to be joining at this stage of his career. Searching for a Stanley Cup as he enters his mid-30s, the Pens provide him with no chance of winning.

Teams like the Dallas Stars and Florida Panthers have been floated as landing spots for the star defenseman. There's a good chance that he could have a resurgence if put in a better situation.

Karlsson and the Penguins are in Philadelphia on Tuesday night for the battle of Pennsylvania against the Flyers. The puck drops at 7 p.m. ET at Wells Fargo Center.