Sharks re-sign Karlsson to 8-year deal worth a reported $92M

Defenseman Erik Karlsson who would have been one of the biggest free agents on the NHL market this summer is likely staying with the San Jose Sharks where he can sign for up to eight years

Defenseman Erik Karlsson who would have been one of the biggest free agents on the NHL market this summer is likely staying with the San Jose Sharks where he can sign for up to eight years

The San Jose Sharks have re-signed star defenseman Erik Karlsson to an eight-year deal, the team announced Monday.

"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", Sharks general manager Doug Wilson said in a statement. ". I think that ever since I got here we've had a great relationship and if I, by any chance, wanted to test the free-agency market, I would have let them know as early as I possibly could because I do understand that there's a lot of things that need to be done, and a lot of things that require a lot of time, so I wanted to give them the most time that they possibly could to have the best team that they possibly can". 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.

The monster contract exceeds Drew Doughty's eight-year, $88 million extension with the LA Kings which will kick in during the 2019-20 season.

TSN's Bob McKenzie was first to report news of Karlsson agreeing to re-sign with San Jose. However, the injury hampered him and he eventually missed the Game Six against the St. Louis Blues which knocked the Sharks out of the playoffs.

Karlsson got off to a slow start in San Jose following the trade and then was slowed by the groin injury that sidelined him for 27 of the final 33 regular-season games.

Karlsson, a two-time Norris Trophy victor, earned $6.5 million against the salary cap last season, the final year on his deal.

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During his tenth season in the National Hockey League, the swift Swedish defenseman finished with three goals and 45 points in 53 regular season contests. He had points in 15 straight games that he played and had 25 points total in that span.

Karlsson got hurt January 16 in Arizona and never was completely healthy again. "They're crucial. Everyone's trying to find them, and we're very pleased to have two-time Norris [Trophy] victor Erik Karlsson back with us".

Despite Karlsson having the season to get settled in San Jose, the rumor mill still churned with whispers that the defenseman wanted to sign with an East Coast team. All three are now under contract at least through the 2024-25 season and an annual cap hit of $26.5 million. But after retaining him, it seems as though the Sharks are prepared to lose All-Star captain Joe Pavelski in free agency.

"I feel like this the place where I want to be", Karlsson said.

The Sharks will have to send their second-round pick in 2021 to Ottawa to complete the deal because they kept Karlsson.

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