One year after the San Jose Sharks traded Erik Karlsson to the Pittsburgh Penguins in a three-team deal also involving the Montreal Canadiens, it's time to revisit the trade and assess its impact on all teams involved. On August 6, 2023, the Penguins acquired Karlsson, along with forward Rem Pitlick, forward Dillon Hamaliuk, and a 2026 third-round draft pick from San Jose. In return, the Sharks received Pittsburgh's 2024 first-round draft pick (top-10 protected), forward Mikael Granlund, defenseman Jan Rutta, and forward Mike Hoffman. The Canadiens received Jeff Petry, Casey DeSmith, Nathan Legare, and a 2025 second-round pick from the Penguins. The Sharks also agreed to retain $1.5 million of Karlsson's salary per year.

At the time, the trade signaled the start of a rebuild for the Sharks, who were looking to acquire assets and create roster space for younger players. Karlsson, a three-time Norris Trophy winner, was expected to bolster the Penguins' offense and power play.

How It Has Played Out

• San Jose Sharks: The Sharks used the first-round pick acquired in the trade to select a promising prospect in the 2024 NHL Entry Draft. Mikael Granlund proved to be a valuable addition, scoring 60 points in 69 games. However, Mike Hoffman struggled, recording a career-low 23 points in 66 games, and is now a free agent. Jan Rutta contributed 19 points in 69 games and has one year left on his contract. Overall, the Sharks have positioned themselves for the future through this trade.
• Pittsburgh Penguins: Erik Karlsson played all 82 games in the 2023-24 season and recorded 54 points. Rem Pitlick was traded to the Chicago Blackhawks in January 2024. Dillon Hamaliuk spent most of the season in the ECHL.
• Montreal Canadiens: The Canadiens' acquisition of Jeff Petry was a short-lived reunion, as he was later traded to the Detroit Red Wings. Casey DeSmith was flipped to the Vancouver Canucks before eventually landing with the Los Angeles Kings. Nathan Legare was assigned to the Laval Rocket of the AHL.

Analysis

The Erik Karlsson trade was a significant move that had both immediate and long-term implications for all teams involved. For the Sharks, it was a clear indication of their commitment to a rebuild, and the assets they acquired have the potential to contribute to their future success. The Penguins aimed to capitalize on Karlsson's talent to compete for a Stanley Cup, but the team failed to make the playoffs. The Canadiens' role in the trade was primarily to facilitate the deal and acquire assets that could be used in future transactions.

Conclusion

Assessing the trade one year later, it appears that the San Jose Sharks have benefitted the most, positioning themselves for a brighter future. While Karlsson had a decent season in Pittsburgh, the Penguins did not achieve their desired results. The Canadiens' involvement was more peripheral, with the acquired players having limited impact. As the Sharks continue their rebuild and the Penguins retool their roster, the long-term consequences of this trade will continue to unfold in the years to come.