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.

RALEIGH, N.C. — “It was a somber afternoon.”

Nico Sturm shared how the San Jose Sharks found out about the Mackenzie Blackwood trade to the Colorado Avalanche.

The Sharks had just practiced at Baptist Health IcePlex in Fort Lauderdale, Fla. on Monday, right before a flight to Raleigh, N.C.

Blackwood was a full participant in a hard, hour-long practice, and it looked like business as usual for a San Jose squad that was trying to keep its spirits up after back-to-back lopsided losses to the Tampa Bay Lightning and Florida Panthers. Jake Walman, for example, tried to engage Mario Ferraro in a play-fight in a lighter moment on the ice.

“After practice, we all went on the bus,” Sturm said after Tuesday morning skate at Lenovo Center, before the Sharks take on the Carolina Hurricanes. “Bus doesn’t leave, something’s going on, you hear some rumors, and then, I think Warso talked to the leadership group and find out, made a trade.”

San Jose Sharks head coach Ryan Warsofsky shared, “When Blacky gets traded, it was right in front of the bus, and every guy got off the bus and gave him a hug.”

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None of this was for show: Mackenzie Blackwood was genuinely beloved in the Sharks locker room, which GM Mike Grier spoke on yesterday.

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Sharks trade Blackwood, G. Smith to Avalanche

Though it happened earlier than expected, the San Jose Sharks have traded goaltender Mackenzie Blackwood. In a trade announced today by the Sharks, Blackwood, forward Givani Smith and a 2027 fifth-round pick were traded to the Avalanche in exchange for goaltender Alexandar Georgiev, winger Nikolai Kovalenko, a 2026 second-round pick and a conditional 2025 fifth-round pick. The conditional pick becomes a fourth-round pick if Blackwood meets two of the following three conditions:

• The Avalanche advance to the third round of the 2024-25 playoffs;
• Blackwood wins 25 regular season games from now through the end of the 2024-25 season;
• Blackwood starts 30 regular season games from now through the end of the 2024-25 season.

For the record, the Avs have played 29 games this season, which means the team has 53 games remaining.

Money matters, Blackwood Georgiev trade

Financially, there was one more piece of the trade. The Avalanche agreed to hang on to 14% of Georgiev’s contract. In this instance, it wasn’t really about the money. The Sharks are still eight million plus under the salary cap, so $1.05 million discrepancy between Georgiev’s contract and Blackwood’s was negligible. What’s more, both goaltenders are in the final years of their respective contracts, so the savings doesn’t impact next season.

More than likely, the hope is that the Sharks might be able to flip Georgiev at the deadline for a late-round pick or a prospect that needs a change of scenery. A $2.924 million cap hit might make Georgiev more appealing at the deadline, especially since the Sharks do not have any retention spots left this season.

In terms of the other two players in this deal, Kovalenko’s contract is $896,250 cap hit. This is the final year of his deal, but the 25-year-old is a restricted free agent and is under team control in the summer.

Meantime, Givani Smith is in the final year of his $800,000 contract. He will be an unrestricted free agent after this season.

Ultimately, the Sharks add approximately $1.146 million cap hit when you take in the difference between the four contracts.