Avalanche, Sharks Swap Alexandar Georgiev, Mackenzie Blackwood

The Colorado Avalanche and San Jose Sharks have come together on a major deal regarding their lines. The avalanche announced they have acquired Mackenzie Blackwood, Givani Smithand a 2027 fifth-round pick from the San Jose Sharks for Alexandra Georgiev, Nikolai Kovalenkoa 2026 second-round pick and a 2025 fifth-round pick.

It’s pretty rare for an NHL organization to completely move on from the goalies it started the year with, but that’s exactly what the Avalanche did in early December. Colorado started the year with a combination of Georgiev and Justus Annunen but the two were replaced by Blackwood and Scott Wedgewood.

The Avalanche have had the worst goaltending in the league this season, and it’s not particularly close. Colorado ranks last in the league with a save percentage of 0.866 and is 29th with 3.55 goals against per game.

Blackwood should help significantly in this regard. He posted a 6-9-3 record with the Sharks this year to go along with a .909 SV% and a 3.00 GAA. He has conceded 53 goals in San Jose this year, but some of that can be attributed to the poor performance in front of him, as his xGA is just 39.7, according to Hockey Reference.

Colorado’s defense has been more than capable of allowing just 766 shots to its goaltenders this season, ranking 11th in the league. They will also lose some salary as part of the deal, which is another bonus. TSN’s Chris Johnston reports that the Avalanche withheld 14% ($476,000) of Georgiev’s remaining salary, so the trade will save the organization about $700,000.

Smith also offers Colorado some flexibility at the end of the lineup. He cleared waivers earlier today (per Sportsnet’s Elliotte Friedman) and is eligible to move unencumbered between the Avalanche and their AHL affiliate, the Colorado Eagles, for the next 30 days.

The real surprise in this deal is Georgiev. His addition was likely necessary for the Avalanche given the salary cap and unwillingness to add three goaltenders to the active roster. Still, it seemed like the perfect opportunity for the Sharks to open up a chance Yaroslav Askarov in the NHL squad.

He’s easily having the worst season of his career and will hit unrestricted free agency next summer. He has posted an 8-7-0 record for the Avalanche this year but has a dismal SV% of .874. Georgiev may have more success in San Jose with less pressure to win, but this is not the year he would like considering his next contract is on the line.

The real prize in this deal for San Jose is Kovalenko. He was selected in the sixth round by Colorado in the 2018 NHL Draft but didn’t come to North America until last year. In recent weeks, he has seen his time on ice reduced as the Avalanche move closer to a healthy lineup, but he still has a good chance of success.

His last two years in the Continental Hockey League were particularly good. Kovalenko scored 32 goals and 89 points in 98 games with Torpedo Nizhny Novgorod of the KHL from 2022 to 2024. He’ll likely push for top six minutes with the Sharks, which was a forbidden path in Colorado.

Sportsnet’s Elliotte Friedman was the first to report that Blackwood had been traded to Colorado.

Sheng Peng of San Jose Hockey Now was the first to report that Smith and SJ’s 2027 fifth-round pick were also in the deal.

Peng was the first to report that Georgiev, Kovalenko and Draft Capital were going back to the Sharks.