John Klingberg’s free-agent market has dragged on longer than anyone expected, even after he put together one of his best seasons in years with the San Jose Sharks.
The right-shot defenseman finished 2025-26 with 10 goals, 17 assists and 27 points, good for second among Sharks blueliners in scoring. For a puck-moving defender with that kind of profile, you’d think there would be a team lined up. Instead, Klingberg sits near the top of the unsigned UFA list as one of the summer’s bigger surprises.
The holdup appears to come down to two things: health and cost.
Klingberg has been productive when he’s available, but availability has become the issue. He played 56 games last season, then just 11 the year before after joining the Edmonton Oilers late and not becoming a regular.
The season prior, with Toronto, he appeared in 14 games. His best recent stretch was the 74-game season he put together with the Dallas Stars in 2021-22.
At 33, teams are understandably hesitant to lock into term or money for a defenseman with that kind of injury history.
Then there’s the asking price. It’s not clear exactly what Klingberg wants, but there was talk before free agency that he might be aiming for roughly $5 million per season.
That number appears out of reach now, and even a deal in the $2.5-3.5 million range seems unlikely. Because he’s not 35, a team also can’t use a bonus-heavy structure to soften the blow.
Klingberg’s slow-moving market isn’t exactly new. In 2021-22, he passed on an eight-year, $56 million extension from Dallas in search of something bigger.
Instead, the deal never materialized, and he has been on one-year contracts ever since. It’s the kind of decision that could end up as one of the most costly in NHL history - not because a team made a disastrous offer, but because the best one on the table was turned down and never replaced.
As of late July, Anaheim, Tampa Bay and San Jose were still being mentioned as possible destinations for a low-cost power-play add. The expectation is that Klingberg will sign somewhere before camps open, just at a lower price than he likely envisioned when the summer began.
If that doesn’t happen, the other possibility is international play, with his NHL career potentially over.