Carolina can't take EK at 8, would need further retention

The retention would cost more assets. I’d want at least a 1st to retain that much for 4 years and use up a retention slot.

Chicago is your best bet to find a Karlsson laundering partner. Anaheims going to need that cap space before his deal is over, or just retain the extra amount yourself.

Value wise, Canes take it. They would need EK at a lower cap hit though, so SJ would have to eat the maximum they are willing to, and Chicago or Arizona would have to eat about 3mil to bring it close to 5-6mil. Unfortunately, whether he ends up with Pittsburgh or Carolina, or some mystery dark horse team, SJ is going to have to take it in the shorts with retention.

What's the max cap hit threshold you think Canes/Pens would accept EK65 at? 7? Lower?

Provided that the Pens are able to move both Petry and Granlund, I think the Pens would be willing to take EK at about 8mil. The Canes on the other hand, more than likely would need to get EK down to 5-6mil for them to pull the trigger, due to his age and injury history.

As for the 2 dark horses, Seattle probably follows suit with what I said for the Canes. Francis isn’t the type of GM who typically goes for the flashy blockbusters, but rather through UFA. He also has to consider Beniers and Wright extensions, so cap space will be crucial. And Toronto straight up can’t afford EK without moving one of the big core names.

Frankly, I am positive it’s really only Pittsburgh and Carolina who are really in the running. Assuming EK is moved, the Sharks will either have to deal with the Pens cap dumps (at the very least, one of, if not both of, Granlund and Petry) and not get great compensation for that, or take a “weaker“ offer from the Canes with a big piece of the package being one of Skjei, Pesce, or Turbo being flipped for more assets, or as a 3-way scenario. I think there is extra pressure for the Sharks to move him before the season starts, since it is almost certain that they aren’t getting another chance to move EK sans buyout/cap dump for the remainder of his contract.

I think EK has value at 8M but I don't see a 3rd team coming in to help retain money on him. There's simply too much term I think SJ would need to eat whatever retention there is on him. They have the cap space in this scenario.