Golden Knights acquire two-time All-Star in trade with Sharks

The Golden Knights and Sharks have agreed to a deal sending All-Star center Tomáš Hertl, a 2025 third-round pick, and a 2027 third-round pick from San Jose to Vegas in exchange for center prospect David Edstrom and a 2025 first-round pick, reports Darren Dreger of TSN. The Sharks retain 17% of Hertl’s contract, making his cap hit for the Golden Knights $6.75M.

It’s a true shocker of a deal, given that the Sharks had no previous indication of selling off their number-one center, who is under contract through 2030. Hertl, 30, had a no-move clause in his deal that he waived to accept a trade to Vegas. He’s on injured reserve after knee surgery last month but is expected back before the end of the regular season. Before the injury, Hertl had 15 goals, 19 assists and 34 points in 48 games, which led the Sharks in scoring.

While Hertl will be an incredibly important on-ice factor for the Golden Knights in their effort to repeat as Stanley Cup champions, the financial aspects of this deal are also highly consequential. With captain Mark Stone on long-term injured reserve, as well as former starting goaltender Robin Lehner, the Golden Knights have been able to bring in three major targets in Hertl, top-four defenseman Noah Hanifin, and winger Anthony Mantha, albeit with salary retained on all of them by their former teams.

Hertl will be eligible for LTIR after the trade call goes through, but the Golden Knights must have cap space to add him to their active roster before doing so. As of now, they don’t have said space. Per CapFriendly, the team has $5.5M in their LTIR pool — roughly $1.25M short of what they need to acquire Hertl. To execute this trade, the Golden Knights will likely assign forwards Byron Froese and Mason Morelli to AHL Henderson briefly, bringing them down to 10 forwards and seven defensemen on the active roster. Their cap hits equate to $1.54M. The trade will then go through, allowing them to remain cap-compliant while absorbing Hertl’s $6.75M cap hit before placing him on LTIR, backdated to when he last played in late January, at which point they can bring Froese and Morelli back up. That won’t solve all of Vegas’ problems, though, as they’ll need to free up that space again to take Hertl off LTIR before the end of the regular season.

Hertl can play both center and left wing, although he’s likely to remain down the middle (or on the wing alongside William Karlsson) for the Golden Knights as they attempt to shore up their second line behind Jack Eichel. Chandler Stephenson is amidst a down season, posting 38 points in 59 games with uncharacteristically poor defensive impacts. Hertl is an underrated, competent two-way player, and he should help round out their offense enough to counteract Stephenson’s regression and allow him to drop to a third-line role.

The Prague-born center has remained a consistent two-way force even as the Sharks’ roster has crumbled around him, producing at least 0.70 points per game in every season since 2018. Remarkably, he’s managed a -2.5 expected rating on this year’s Sharks, the first time he’s posted a negative in that stat in his career. That rating was the second-highest among full-time Sharks skaters, save for Ryan Carpenter. He also had a 46.6 CF% at even strength, 4.9% higher than the Sharks’ overall CF% without Hertl on the ice.

Meanwhile, the Sharks have made the surprising choice to use up all three of their salary retention slots for now, preventing them from being third-party brokers for any draft-day deal. All three spots will also be occupied next season, as they’re still retaining salary on the contracts of Brent Burns and Erik Karlsson. Burns’ deal expires in 2025, but Karlsson’s lasts through 2027, so only one retention slot will open next summer.

They do land a nice prospect in Edstrom. However, the return seems underwhelming, considering the length of time they’ll be on the hook for a portion of Hertl’s salary — especially considering they conceded two third-round picks in the trade. Edstrom was the last pick of the first round of last year’s draft and has posted 17 points in 42 games while on loan to Frölunda HC in the Swedish Hockey League. He projects as a relatively safe high-floor, low-ceiling third-line pivot. The Golden Knights signed him to an entry-level deal over the summer, and he’ll be an RFA in 2026.

TSN’s Bob McKenzie was the first to report that Hertl was heading to Vegas.

ESPN’s Kevin Weekes was the first to report that the Sharks were retaining a portion of Hertl’s salary.