Karlsson says he hasn’t been asked to waive a full no-movement clause in his contract ahead of the March 7 deadline.

Karlsson, 34, has two years remaining beyond 2024-25 on an eight-year contract that pays him $11.5 million annually and has a full no-movement clause. The Penguins are paying $10 million of Karlsson's contract, as $1.5 million was retained by the San Jose Sharks in the blockbuster trade that sent Karlsson to Pittsburgh on Aug. 6, 2023.

That means Penguins general manager Kyle Dubas cannot trade Karlsson without his approval, pending on the destination and his willingness to go there. While Karlsson acknowledged

Erik Karlsson still likes it in Pittsburgh. And he still sees his station as a defenseman with the Pittsburgh Penguins as providing a viable route to a Stanley Cup championship. But certainly not this season.

Here are the obstacles to trading Karlsson: • He has a no-movement clause. Though many assume he would be willing to move on if asked, he still has the power here. The team hasn’t played well during his time in Pittsburgh, but he seems to genuinely like playing for the Penguins.

The Pittsburgh Penguins are on pace to miss the playoffs for the third consecutive season. General manager Kyle Dubas reportedly set out to shop anyone aside from core players such as Sidney Crosby, Evgeni Malkin and several other assets.

Is it time for the Pittsburgh Penguins to realize Erik Karlsson hasn’t been a fit and it’s time to move on? At times he’s looked really good, and other times, out of place.

If the Penguins decide to move on from Erik Karlsson, here are two teams that could come in for him at the 2025 NHL Trade Deadline.

Defenseman Erik Karlsson came to the Penguins in a trade, will he leave the same way? LISTEN to what he said about his no-trade clause with deadline approaching