Erik Karlsson appears poised for a third major move in his NHL career as trade discussions intensify around the veteran defenseman. Following a challenging stint with the Pittsburgh Penguins, the 35-year-old Norris Trophy winner is exploring new opportunities, with several teams potentially interested in acquiring the star player‘s services in the upcoming season.

Karlsson’s recent trade possibilities come amid salary cap considerations and the Penguins’ recent acquisition of Matt Dumba, which adds depth but also competition on the blue line. Despite some setbacks in Pittsburgh, Karlsson’s impressive performance at the recent 4 Nations Face-Off demonstrated that he retains the ability to influence games at a high level. His willingness to waive the no-move clause opens the door to contenders, while his $10-million cap hit and age present challenges for potential suitors. Here is a closer look at five plausible trade destinations where Karlsson could continue to make an impact.

Vegas Golden Knights: A Strategic Replacement on the Blue Line

The Vegas Golden Knights are among the most aggressive contenders in the NHL market and are likely to explore adding a player of Karlsson’s calibre. The recent retirement of Alex Pietrangelo leaves a significant vacancy on the Knights’ right defense, creating an urgent need for a veteran presence experienced in logging heavy minutes on the back end. Pietrangelo averaged over 22 minutes per game last season, and Karlsson could help fill that void, though their playing styles differ significantly.

While Karlsson is known more for his offensive creativity and occasional defensive lapses, Vegas might find value in his ability to contribute on the power play and jumpstart their transition game. His previous tenure alongside Vegas captain Mark Stone during their time in Ottawa, as well as his earlier seasons with Tomas Hertl in San Jose, could ease his integration into the Knights’ locker room. The financial aspect also favors a deal, with Pittsburgh able to retain salary and Pietrangelo’s cap hit projected to move to Long-Term Injured Reserve (LTIR), potentially making room for Karlsson’s contract.

Carolina Hurricanes: Seeking Power-Play Firepower to Fill Defensive Hole

The Carolina Hurricanes continue their pursuit of top-tier talent to solidify their push toward the Stanley Cup. After their signing of Nikolaj Ehlers and acquisition of K’Andre Miller, Carolina is still left addressing a key gap on the right side of their defense following Brent Burns’ departure to Colorado. Karlsson’s offensive skill set, especially his power-play acumen, makes him a viable candidate to bolster the Canes’ special teams, which finished 25th in league power-play success last season.

Head coach and general manager Eric Tulsky faces the challenge of balancing risks associated with Karlsson’s style with the potential rewards of his creative playmaking abilities. Karlsson’s capacity to quarterback a man advantage could provide the Hurricanes with the boost needed to capitalize in close games, while the team also has the cap space to potentially maneuver a trade. Shayne Gostisbehere’s role as a top power-play blue-liner last year highlights the Canes’ ongoing search for consistent production in this area, which Karlsson could address efficiently.

Tampa Bay Lightning: Reuniting with a National Teammate Amid Cap Constraints

The Tampa Bay Lightning find themselves at a crossroads after several early playoff exits despite maintaining a roster of high-profile players. The team’s limited salary cap space complicates major additions, as key stars such as Nikita Kucherov, Brayden Point, and Andre Vasilevskiy consume enormous cap hits. Nonetheless, the presence of captain Victor Hedman, a longtime national teammate of Karlsson’s, presents a unique potential connection.

Karlsson and Hedman have shared extensive time representing Sweden and have developed a mutual understanding of each other’s playing tendencies. Lightning general manager Julien BriseBois has a reputation for taking calculated risks to revamp his team’s chances. If a feasible financial arrangement can be found—perhaps with salary retention or asset movement—bringing in Karlsson could inject fresh offensive skill into Tampa’s defense corps. Such a move could revitalize their blue line, especially on the power play, by adding vision and passing ability.

Toronto Maple Leafs: Searching for a Creative Defensive Catalyst

Toronto has long sought to enhance its defense with a player capable of both strong offensive contributions and reliable playmaking to complement its star forwards. Despite improvements in their blue line last season, the Maple Leafs still lack a dynamic, top-end offensive force among defenders, particularly to lead on the power play. Karlsson represents a potential, albeit short-term, solution to that need.

The Leafs’ general manager, Brad Treliving, would need to orchestrate a complex trade, possibly moving Morgan Rielly to free salary cap space, to accommodate Karlsson’s $10-million cap hit. The team recently lost Mitch Marner, a pivotal playmaker, which adds urgency to finding alternative sources of creative offense. While Karlsson may no longer be the dominant game-breaker from his prime, his skill set remains well-suited to directing a high-powered attack from the blue line in a sheltered role among veteran defenders. This could provide immediate support as Toronto aims to regain its standing as a genuine Stanley Cup contender.

Ottawa Senators: A Return to Familiar Grounds with a Vision for Growth

The Senators present a compelling, if less competitive, option for Karlsson if he chooses to prioritize legacy and familiarity. Having spent the early and most formative years of his career in Ottawa, he could provide offensive leadership to a young and promising roster that recently made the playoffs after a long drought. The 2025-26 season for the Sens is unlikely to be a breakthrough campaign for the Stanley Cup, but it offers a chance to foster growth and contribute to a rebuilding narrative.

Karlsson’s decision here would likely reflect a desire to finish his career where it began, accepting a less likely route to immediate postseason success in favor of mentorship and personal connection. Teaming up again with this group could boost Ottawa’s offensive potential significantly on the blue line. The Sens’ management and fans may welcome the return of a former captain and elite two-way player, hoping his presence can spur another playoff run and solidify the young nucleus’s confidence moving forward.

Ultimately, Karlsson’s next chapter will balance his pursuit of team success, financial realities, and personal priorities. Whether he joins a contender like Vegas or Carolina, reunites with a trusted teammate in Tampa Bay, fills a creative void in Toronto, or returns home to Ottawa, his move will be among the most closely watched pending developments in the NHL offseason. His next destination will shape not only his legacy but also the competitive landscape of the upcoming NHL season.

Our Reader’s Queries

Q. Does Erik Karlsson chew tobacco?

A. He is a fan of Arsenal, a football club in the English Premier League. Karlsson additionally enjoys using snus, a Swedish tobacco product, while watching matches.