Five NHL trades, free-agent acquisitions Sharks should explore this offseason originally appeared on NBC Sports Bay Area
- Editor’s note: Sheng Peng is a regular contributor to NBC Sports California’s Sharks coverage. You can read more of his coverage on San Jose Hockey Now, listen to him on the San Jose Hockey Now Podcast, and follow him on Twitter at @Sheng_Peng.
How will the Sharks improve this offseason?
No doubt, the hockey hot stove is percolating with trade and free agency rumors right now.
The 2025 NHL Draft is on June 27, and free agency begins on July 1, so the market is about to explode.
But not every possible acquisition fits the Sharks and their timeline.
So, what are five possible (and realistic) ways for the Sharks to take another step?
Before we get to that, let’s talk about how the Sharks probably aren’t going to improve themselves this offseason.
Big Free Agency Swing?
One hundred-point winger Mitch Marner is the prize of this free agency class. But even if he’d consider the last-place Sharks, it doesn’t seem like San Jose is ready to offer maximum seven or eight-year contracts to a UFA.
“It’s still not something I’m excited to do — to hand out, you know, seven- or eight-year deals or anything like that,” general manager Mike Grier said at the end of the season. “I’d still like to keep it more in the short to mid-term range, if possible.”
Grier could just be being coy, but he seems the cautious type, sources indicate the same thing, and there’s no indication that he’s being pressured from above to make a big splash.
So my guess is the Sharks stay out of the high end of free agency this summer.
If so, that could rule out San Jose from the chase for UFA forwards Marner, Nikolaj Ehlers and Sam Bennett. Same goes for defensemen Aaron Ekblad, Vladislav Gavrikov and Ivan Provorov.
It doesn’t mean that the Sharks won’t invest significantly in free agency, but probably more in the range of last summer’s four-year, $24 million pact with Tyler Toffoli.
What Can Sharks Offer in Trade?
A trade takes two to tango, and what the Sharks have to offer might not be enticing to other teams.
Specifically, San Jose does have an absolute war chest of futures to offer, extra first-round picks and high-end prospect depth.
But as of now, it feels like the most active teams on the market are looking to win now, not looking for futures.
So while futures could be a part of any deal, it’s hard to see them forming the core of potential trades for top-notch acquisitions like 40-goal winger Jason Robertson, almost point-per-game winger J.J. Peterka and top-pairing caliber defensemen like Noah Dobson, Bowen Byram and Samuel Girard.
At the moment, there isn’t a franchise out there a la the 2022-23 Sharks, looking to rebuild and dangling a star like Timo Meier. That’s the kind of trade where the Sharks can outbid the rest of the league.
For what it’s worth, the Sharks do have the No. 30 pick in the 2025 Draft and the Edmonton Oilers’ top-12 protected 2026 first to offer. They also have, arguably, the deepest farm system in the NHL, especially up front.
Sharks Can Also Offer This
The Sharks also have tons of cap space, which will help them absorb short-term contracts.
What doesn’t help is being the worst team in hockey, which makes San Jose a less attractive place for quality players who have a choice of where to go, like UFAs John Tavares and Matt Duchene, and cap casualty Chris Kreider, who has a 15-team no-trade list.
Mason Marchment, another potential cap casualty, has a 10-team no-trade list. Maybe the Sharks aren’t on that list?
So, who does this leave for the Sharks?
Mikael Granlund
San Jose Hockey Now heard at the 2025 NHL Scouting Combine that the Stars were really happy with Granlund, after they acquired him from the Sharks last season, seeing him as a solid influence on the many Finns on the squad, besides being a terrific two-way forward. So they’re looking to retain the pending UFA.
But that doesn’t take away how much Granlund enjoyed it in San Jose, where he revived his career over the past year and a half.
The 33-year-old isn’t looking for a significant term, so if the Stars can’t fit him in, a San Jose reunion would be logical. The Sharks were equally happy with Granlund in his time there.
K’Andre Miller
The New York Rangers are looking to win now, so why trade a 25-year-old top-four defenseman?
He is an RFA, and the Rangers might be looking to distribute their money in better places.
There are rumors that Miller will be subject to an offer sheet at the beginning of free agency, possibly in the range of $4.68 to $7.02 million AAV, which comes at the cost of a 2026 first and third.
Draft picks used for offer sheets have to be your own, so there’s no way that the Sharks are putting up their own 2026 first for Miller. That Sharks’ 2026 first could be projected No. 1 pick Gavin McKenna.
But can San Jose beat the trade value of a 2026 first and third, assuming Miller gets offer sheets elsewhere?
They have next year’s Oilers’ first to start a trade conversation.
It’s hard to say, once again, if futures are enough to be the foundation of such a trade.
Nicolas Hague
Hague has never been a top-four defenseman for the Vegas Golden Knights, but an argument can be made that the 26-year-old has been blocked by the perennial Stanley Cup contender’s deep defensive group.
Do the Sharks believe that Hague has more to offer?
The Golden Knights are also facing a cap crunch, so the pending RFA could be an offer sheet candidate, perhaps at the high end of the $2.34 to $4.68 million AAV range. That would cost the Sharks their 2026 second-round pick.
Matt Grzelcyk
The 31-year-old defenseman had a career-high 40 points last season and could help run the Sharks’ power play. After trading Jake Walman last year, San Jose didn’t have a credible blueline presence on the man advantage.
I believe the UFA, who was coming off a down 2023-24 campaign, is looking for stability, which San Jose could certainly offer a la Toffoli.
Ilya Lyubushkin
Dallas actually has two veteran defensemen in Lyubushkin ($3.25 million AAV, two years left) and Matt Dumba ($3.75 million AAV, one year left) that they could be looking to dump to clear cap space.
Lybushkin had a tough time in the Stanley Cup Playoffs and Dumba didn’t even play as a healthy scratch, but on the Sharks, they’d both improve a thin defense.
Chances are, they won’t cost much either, especially Dumba.
So, a short or mid-term free agent signing? A hockey or cap casualty trade? A low-end offer sheet?
The likely avenues for the Sharks to improve aren’t the most exciting, but there is good news. With young stars Macklin Celebrini, Will Smith, William Eklund and Yaroslav Askarov leading the way, the big swings are coming.