The San Jose Sharks are continuing to work on a contract extension for unrestricted free agent Erik Karlsson, according to The Athletic's Kevin Kurz.
The Sharks are the only team that can offer Karlsson a term of eight years. Once July 1 passes and the free-agent signing period begins, the maximum term the 29-year-old can get elsewhere is seven years.
With $24.7 million in projected cap space, the Sharks can make it work, but will have some important decisions to make this offseason.
Veteran forwards Joe Pavelski, Joe Thornton, Gustav Nyquist, and Joonas Donskoi are all unrestricted free agents, and young talents Kevin Labanc and Timo Meier are coming off their entry-level contracts, putting them in line for their first big-league deals.
Karlsson battled a pair of groin injuries over the latter half of the year and underwent successful surgery May 31.
It was reported earlier this month that Karlsson is hopeful to receive competitive offers from the Ottawa Senators and Montreal Canadiens because his wife would like to live closer to family.
The 6-foot rearguard recorded 45 points in 53 games in his first season with San Jose and added 16 points in 19 playoff games.
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