One of the hottest names in free agency who isn't actually a free agent is Erik Karlsson. The star defenseman for the Ottawa Senators has been in the NHL rumor mill as speculation grows he'll be traded. Said speculation grows even further as reports surfaced the Senators have given other teams permission to start speaking with Karlsson about a contract extension that would help the Senators facilitate his move out of the organization.

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Karlsson has one year left on his current NHL contract. The Senators would like him to stay in Ottawa, but after the franchise has shown little willingness to build a competitive team around him and drama with other former teammates in the background, Karlsson has yet to accept the eight-year offered extension presented to him on July 1, 2018.

Karlsson's lack of commitment to the Senators has led people to believe an extension won't be coming and the team is looking to trade Karlsson to get something in return before he becomes an unrestricted free agent next July 1, 2018. Whether that happens now or later in the season, the team understands that a situation similar to what happened with John Tavares and the New York Islanders— where the player left for no compensation— cannot repeat itself in Ottawa.

The New York Post’s Larry Brooks is citing sources (according to Sportsnet) claiming the Ottawa Senators have given permission to teams interested in acquiring Karlsson via trade to talk a contract extension with Karlsson first. This will be key for teams like the Dallas Stars, Vegas Golden Knights, Tampa Bay Lightning, San Jose Sharks, or Washington Capitals who may want the blueliner but want to know they'll be giving up major assets for a player staying beyond on season.

The Ottawa Sun’s Bruce Garrioch also reports that Karlsson is seeking an eight-year, $88-million contract just like the one Drew Doughty signed with the Los Angeles Kings.

One of the interesting aspects of any trade will be whether or not the Senators persist that forward Bobby Ryan, and his $7.25-million per season contract over the next four years has to be included. If so, it could change the return for the Senators who may see moving Karlsson as an opportunity to also dump a terrible contract.

NEXT: ONE REALISTIC TRADE PACKAGE EACH NHL TEAM COULD OFFER FOR ERIK KARLSSON