The Athletic has live coverage of the 2025 NHL trade deadline. DENVER — Trade deadline week has arrived. A couple of noteworthy moves were made around the NHL over the weekend, but the Penguins haven’t struck yet. It’s only a matter of time.

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.

On one end of the spectrum is Pittsburgh Penguins winger Rickard Rakell. He scored two goals, including a wonderful individual charge off the opening faceoff of the third period to tie the game.

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

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.