As of 2025, Karlsson continues to be a dominant force in the NHL with the Pittsburgh Penguins. With multiple Norris Trophies, All-Star selections, and international accolades, he is a surefire Hall of Famer when his career comes to an end
His journey from a small Swedish town to the pinnacle of professional hockey is a testament to his skill, determination, and love for the game.
Erik Karlsson’s contract remains one of the most significant deals in the NHL.
The eight-year, $92 million agreement underscores his value as a top-tier defenseman and highlights the complexities of long-term contracts in professional hockey.
As Karlsson continues to play for the Pittsburgh Penguins, his contract will remain a topic of discussion among analysts and fans alike.
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Table of Contents
Erik Karlsson: Who Is He?
A Generational Defenseman in the NHL
Erik Karlsson was born on May 31, 1990, in Landsbro, Sweden, a small town known for its deep-rooted hockey culture.1
From a young age, Karlsson displayed an exceptional talent for the game, particularly in offensive play from the blue line.
His journey to professional hockey began with the Jönköpings IK youth program before moving on to play for Frölunda HC, one of Sweden’s top hockey clubs.
His performances in the Swedish Hockey League (SHL) quickly caught the attention of NHL scouts.
— Erik Karlsson (@ErikKarlsson65) November 14, 2022
Early Life and Development in Sweden
In the 2008 NHL Entry Draft, the Ottawa Senators selected Karlsson 15th overall, recognizing his potential as a dynamic puck-moving defenseman.
He made his NHL debut in the 2009-10 season and steadily improved, becoming a key player for the Senators.
Karlsson’s ability to generate offense from the back end, combined with his skating and vision, made him one of the league’s most exciting young players.
Karlsson’s breakout came during the 2011-12 season when he led all NHL defensemen in scoring with 78 points (19 goals, 59 assists) in 81 games.
His offensive dominance earned him the James Norris Memorial Trophy as the NHL’s best defenseman, making him the youngest recipient since Dennis Potvin in 1976. This season solidified his reputation as a franchise player for Ottawa.
Erik Karlsson: Career
Erik Karlsson’s rise to hockey stardom began in Sweden, where he made his debut for Frölunda HC in the Elitserien on March 1, 2008.2
His breakthrough moment came when he scored the game-winning goal in overtime against HV71, securing a playoff berth for his team.
Karlsson also played a crucial role in Frölunda’s J20 team, leading them to victory in the Swedish Junior Ice Hockey Championship.
His impressive performance caught the attention of NHL scouts, and he was ranked fourth among European skaters by the NHL’s Central Scouting Service before the 2008 NHL Entry Draft.
The Ottawa Senators selected Karlsson 15th overall, with the pick being announced by fellow Swede and Ottawa captain Daniel Alfredsson.
Ottawa Senators (2009–2018)
- Karlsson joined the Senators’ roster for the 2009–10 season, making his NHL debut against the New York Rangers.
- After an initial adjustment period that saw him sent to the AHL, Karlsson quickly established himself as a key player upon his return to the NHL.
- He scored his first NHL goal on December 19, 2009, against the Minnesota Wild and became an integral part of Ottawa’s defense.
- Karlsson’s offensive prowess set him apart from other defensemen. He led all NHL defensemen in scoring during the 2011–12 season, setting a new franchise record for most points by a defenseman with 78.
- His exceptional play earned him his first James Norris Memorial Trophy as the league’s top defenseman.
- After signing a seven-year, $45.5 million contract extension with Ottawa in 2012, Karlsson continued to dominate.
- He won his second Norris Trophy in 2015 after another stellar season, leading all NHL defensemen in points and helping Ottawa secure a playoff spot.
- Named Ottawa’s captain in 2014, Karlsson took on a greater leadership role. His performance during the 2017 playoffs was particularly memorable, as he played through injuries to lead the Senators to the Eastern Conference Finals.
- Despite suffering two hairline fractures in his left heel, he recorded 18 points in 19 playoff games and came close to taking Ottawa to the Stanley Cup Finals.
- Despite his brilliance, Karlsson faced injuries and team struggles. In the 2017–18 season, the Senators finished near the bottom of the standings, and Karlsson’s future with the team became uncertain.
- Although he initially expressed his desire to stay, trade rumors persisted, ultimately leading to his departure.
San Jose Sharks (2018–2023)
On September 13, 2018, Karlsson was traded to the San Jose Sharks. His first season was plagued by injuries, but he still managed 45 points in 53 games.
He played a pivotal role in helping the Sharks reach the Western Conference Finals in the 2019 playoffs.
Despite injuries, Karlsson proved why he was one of the best defensemen in the NHL. In the 2022–23 season, he achieved a career milestone by recording his first NHL hat-trick on November 1, 2022.
He later became the first defenseman since Brian Leetch in 1991–92 to reach 100 points in a season, finishing with 101 points.
His achievements earned him the Norris Trophy for the third time and a finalist spot for the Ted Lindsay Award, marking one of the most dominant seasons by a defenseman in recent history.
Karlsson signed an eight-year, $92 million contract in 2019, making him the highest-paid defenseman in NHL history at the time.
However, injuries and the Sharks’ struggles limited his impact in subsequent seasons. His elite offensive ability remained evident, but team performance led to trade discussions.
Pittsburgh Penguins (2023–Present)
On August 6, 2023, Karlsson was traded to the Pittsburgh Penguins in a blockbuster three-team deal involving the San Jose Sharks and Montreal Canadiens.
This move reunited him with a veteran core in Pittsburgh, including Sidney Crosby and Evgeni Malkin.
With Pittsburgh, Karlsson aims to continue his legacy and help the team return to Stanley Cup contention. His offensive skills and leadership make him a crucial addition to the Penguins’ blue line.
Erik Karlsson: Injuries and Leadership Role
Despite his rapid ascent, Karlsson faced significant challenges. In the 2012-13 season, he suffered a devastating Achilles tendon injury after a skate cut from Matt Cooke.3
Remarkably, he returned to play later that same season, showcasing his resilience.
As team captain from 2014 to 2018, Karlsson led the Senators to a deep playoff run in 2017, where he played through injuries and nearly carried Ottawa to the Stanley Cup Final, ultimately falling in Game 7 of the Eastern Conference Final against the Pittsburgh Penguins.
Blockbuster Trade to the San Jose Sharks
In September 2018, Ottawa traded Karlsson to the San Jose Sharks in a move that marked the end of an era. The trade, which sent multiple players and draft picks to Ottawa, was one of the biggest in recent NHL history.
Karlsson signed an eight-year, $92 million contract with the Sharks in 2019. Despite dealing with injuries, he remained one of the league’s top offensive defensemen, consistently putting up strong numbers.
Historic 2022-23 Season and Third Norris Trophy Win
Karlsson experienced a career resurgence in the 2022-23 season, becoming the first defenseman since Brian Leetch in 1991-92 to record 100 points in a season.
His remarkable 101-point campaign earned him his third Norris Trophy, further cementing his place among the greatest defensemen in NHL history.
Trade to the Pittsburgh Penguins: A New Chapter
In August 2023, Karlsson was traded to the Pittsburgh Penguins in a three-team deal involving the Montreal Canadiens.
The Penguins acquired Karlsson to bolster their blue line and provide additional offensive firepower alongside Sidney Crosby, Evgeni Malkin, and Kris Letang. His arrival signaled Pittsburgh’s commitment to contending for another Stanley Cup.
International Success with Team Sweden
Karlsson has also been a key figure in international play for Sweden. He helped Sweden secure a silver medal at the 2014 Sochi Olympics, where he was named the tournament’s best defenseman.
He also played a crucial role in Sweden’s gold medal victory at the 2017 IIHF World Championship.
Karlsson’s style of play has influenced a new generation of defensemen. His ability to dictate the game’s tempo, quarterback the power play, and contribute offensively has redefined what it means to be an elite defenseman.
Younger players such as Cale Makar and Quinn Hughes have drawn comparisons to Karlsson, showing how his game has shaped the future of the NHL.
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Erik Karlsson’s Contract
A Deep Dive into His Lucrative Deal
Erik Karlsson, one of the NHL’s premier defensemen, is currently signed to an eight-year, $92,000,000 contract with the San Jose Sharks.
This deal, which includes a substantial $53,000,000 signing bonus, guarantees the full $92,000,000 and carries an average annual salary of $11,500,000.
The contract, signed in 2019, runs through the 2026-27 season, with Karlsson set to become a free agent in 2027.
Breakdown of Karlsson’s 2024-25 Salary
For the 2024-25 season, Karlsson’s earnings will consist of a base salary of $10,000,000 and a signing bonus of $1,000,000.
His total cap hit for the season stands at $11,500,000, a significant figure that reflects his elite status in the league.
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Despite being traded to the Pittsburgh Penguins, the San Jose Sharks have retained $1.5 million of his annual salary, affecting their payroll as a ‘dead cap hit.’
How Karlsson’s Contract Compares to Other NHL Stars
When comparing Karlsson’s contract to other top defensemen in the league, his $92 million deal ranks among the highest.
Other elite defensemen, such as Drew Doughty and Roman Josi, have similarly structured contracts, but Karlsson’s combination of high base salary and significant signing bonus sets his deal apart.
Since Karlsson was traded to the Penguins, his contract has added a considerable cap hit to Pittsburgh’s payroll.
However, the retained salary by San Jose slightly mitigates the impact. For Pittsburgh, acquiring Karlsson meant investing in an elite offensive defenseman who can significantly impact their success.
Erik Karlsson’s Career Earnings
Over his career, Karlsson has accumulated impressive earnings. According to Spotrac, his total career earnings stand at $122,429,878 as of 2025. His previous contracts include:
- 2012: A seven-year, $45,500,000 deal with the Ottawa Senators, averaging $6,500,000 per season.
- 2009: A three-year entry-level contract with an average salary of $1,300,000 and a $262,500 signing bonus.
The Future of Karlsson’s Contract
With three years remaining on his contract after the 2024-25 season, Karlsson’s cap hit will continue to be a crucial consideration for the Penguins.
His performance on the ice will determine whether the contract remains a valuable investment or a financial burden for the team.
Karlsson’s contract is notable for its size and structure. With a fully guaranteed amount, including the massive signing bonus, the deal provides financial security while reflecting his immense value to the team.
The retention of a portion of his salary by the Sharks, even after his trade, further illustrates the long-term implications of such high-value deals.
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