Kyle Dubas reportedly working on a pair of significant trades and a potential buyout

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Mike Armenti
July 22, 2023 (8:55)

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With the Pittsburgh Penguins remaining at the front of the pack in terms of teams who are serious about adding Norris Trophy winner Erik Karlsson, it's clear that Kyle Dubas is set on making a significant splash in his first year as President and Interim GM of the Pens.

According to Rob Rossi of The Athletic, Dubas and company are working on multiple trades at the moment, which would see them moving out a significant contract or two to open up the space necessary to acquire Karlsson and remain cap compliant.

If true, there is HUGE news today for #LetsGoPens fans about Erik Karlsson, reported from Rob Rossi of The Athletic on the EK65 Watch.

The Pens are currently over the cap by about $2M, but by the sounds of things, they'd like to trade the final two seasons of Jeff Petry's contract, which carries a $6.25M cap hit. They're also considering a potential buyout, which would allow them to free up enough space to bring in Karlsson without a significant amount of retention by the Sharks. Mikael Granlund and his $5M cap hit for two more seasons could make sense as a potential buyout target.

It was reported this week that both Kris Letang and Sidney Crosby would like to add Karlsson this summer, and Letang is even willing to decrease his playing time and step aside on the top powerplay unit to make it all happen.

Of course, with Karlsson having a full NMC, it's all about where he wants to go. If that destination is Pittsburgh, it looks like the Pens are willing to do what needs to be done to make it happen. However, Karlsson has also confirmed that the Kraken, Hurricanes and Leafs remain in the mix.