Karlsson returns to San Jose for $92M

Sharks’ risk rewarded; D-man signs for 8 years

SAN JOSE, Calif. — The San Jose Sharks’ risk was rewarded Monday when they locked up offensively skilled defenseman Erik Karlsson on an eight-year $92 million contract.

“This was a big decision for me,” said Karlsson, 29, among the NHL’S most talented offensive blueliners over the last decade. “Ultimately, at the end of the day, I know it’s the right one for me, my family and this organization as well.

“I’m very happy with how everything happened and that they didn’t force me into making a decision earlier than this.

When the Sharks traded for Karlsson in September 2018, they realized he had only one year left on his contract. They sat patiently as he learned about the organization and area during an injury-plagued season.

Their one-year rental is now a core player, a long-term commitment.

A person with knowledge of the deal said it carries an annual cap hit of $11.5 million and includes a full no-movement clause. The person spoke to The Associated Press on condition of anonymity because the team did not announce terms of the contract.

The two-time Norris Trophy winner, who spent the first eight seasons of his career with Ottawa, was hampered by groin injuries for

much of his first season in San Jose. But he helped the Sharks beat the Golden Knights in the first round of the playoffs and reach the Western Conference final for the fifth time in the past 15 seasons.

The Sharks were eliminated by eventual Stanley Cup champion St. Louis in six games.

Karlsson wore down at the end of the series against the Blues and had groin surgery on May 31. He is expected to recover fully before the start of next season.

The contract is the richest in the league for a defenseman, surpassing the deal Drew Doughty signed in Los Angeles last summer. The only current deals worth more annually are Connor Mcdavid’s $12.5 million cap hit on an eight-year deal in Edmonton and Auston Matthews’ $11.6 million cap hit on a five-year contract in Toronto.

“We’re extremely comfortable,” general manager Doug Wilson said of the deal and Karlsson’s offseason surgery. “It’s fixed. It will be 100 percent come September, and he’s putting in the work for that. That’s one of the great advantages to having the knowledge you go through the process to make this decision. It would have been more difficult for us if we were on the outside and never knew the player and you have the unknown factors in this.”

Karlsson rejoins a strong defensive corps in San Jose. The Sharks also have 2017 Norris Trophy winner Brent Burns and a solid defensive defenseman in Marc-edouard Vlasic. All three are under contract at least through the 2024-25 season and an annual cap hit of $26.5 million.

With top centers Logan Couture and Tomas Hertl also signed long term, the Sharks figure to remain a contender for the near future.

“We’re going to have a great chance at winning the Cup not only next year but for a lot of years moving forward,” Karlsson said. “That’s always going to be our mindset. … We had a great run this year but we didn’t make it all the way. That’s not what we set out to do.”