» SHARKS GIVE KARLSSON BIG PAYDAY
SAN JOSE — The Sharks on Monday made Erik Karlsson a cornerstone of the franchise for years to come, not to mention the highest-paid defenseman in the NHL.
The Sharks signed Karlsson to an eight-year contract extension worth $92 million, a deal that carries an average annual value of per $11.5 million, according to CapFriendly. Bob McKenzie of TSN and Pierre LeBrun of The Athletic first reported the length and terms of the contract, the richest in Sharks history.
Karlsson, 29, was slated to become the league’s most prized unrestricted free agent on July 1. A two-time Norris Trophy winner and a four-time first-team NHL All-Star, Karlsson has 129 goals and 563 points in 680 career NHL games.
Instead, Sharks general manager Doug Wilson has crossed off a major item on his summer to-do list.
“We are extremely pleased that Erik and his wife Melinda have committed to the San Jose Sharks and that they have done so prior to July 1,” Wilson said in a statement. “Players with Erik’s elite level of talent are rare and when they become available, it’s important to be aggressive in pursuing them. He is a difference maker who consistently makes the players around him better.
“We are pleased that he has been proactive in addressing his injury from last season and are looking forward to him being part of our organization for a long time to come.”
Hampered by a groin injury this past season, Karlsson played just 53 games with the Sharks and finished with 45 points. He had 16 points in 19 playoff games, as the Sharks advanced to the Western Conference final before they were eliminated in six games by the eventual Stanley Cup Champion St. Louis Blues.
The Sharks are the only team that could have offered Karlsson an eightyear contract. Had Karlsson signed with another team once the league’s free agency period began, the maximum length of the deal would have been seven years.
“I’m super excited to continue my journey with the Sharks,” Karlsson said in a statement. “Since my first day here, I have only good things to say about the people, organization and the fans. The entire Bay Area has been extremely welcoming to me and my family. I appreciate that and we can’t wait to spend the next eight years in San Jose.”
Previously, the richest contract for any blueliner in the league belonged to Los Angeles’ Drew Doughty, who will begin an eight-year, $88 million deal this fall.
The largest contracts the Sharks have, besides the reported one for Karlsson, belong to defenseman Brent Burns and center Logan Couture. Burns just completed the second year of an eight-year, $64 million deal he signed in November 2016 and Couture is about to enter the first year of his eight-year deal, which has the same $8 million average annual value.
The Sharks now have 16 players under contract for next season, and have roughly $12.5 million left in space under the NHL’s salary cap. The upper limit of the cap will reportedly be around $83 million for the 2019-20 season.
That doesn’t leave much room for the Sharks to re-sign the six pending UFAs they still have, namely captain Joe Pavelski and wingers Joonas Donskoi and Gus Nyquist. The Sharks also have four notable restricted free agents on their roster, such as forwards Timo Meier and Kevin Labanc and defenseman Joakim Ryan.
Karlsson underwent surgery on May 31 to address a groin injury he suffered in January, but is expected to be ready for the 2019-20 season.
Karlsson was acquired by the Sharks from Ottawa in a blockbuster trade just before the start of training camp in September. With Karlsson set to sign a contract extension to remain in San Jose, the Sharks will now send their 2021 second round draft pick to the Senators.