2:01 p.m.: Sharks head coach Ryan Warsofsky confirmed today, per Peng, that it’ll be Vincent Desharnais, not Mukhamadullin, who is the injured Sharks defenseman set to take Leddy’s spot in the lineup. Desharnais has been sidelined since late November with an upper-body injury.
1:13 p.m.: The San Jose Sharks have placed veteran defenseman Nick Leddy on waivers. The news was first reported by San Jose Hockey Now’s Sheng Peng.
By placing Leddy on waivers today, the Sharks open up the possibility for Leddy to be reassigned to their AHL affiliate, the San Jose Barracuda. Reassignment to the AHL is contingent on Leddy clearing waivers.
Last week, The Hockey News’ Max Miller reported that defenseman Shakir Mukhamadullin would travel with the team on their four-game road trip. It appears, as a result, that Mukhamadullin is nearing the point where he’ll be able to be activated off injured reserve. Since the Sharks already have a full 23-man active roster, waiving Leddy today provides the Sharks with an additional amount of roster flexibility in advance of Mukhamadullin’s return. The Sharks would have just six healthy defensemen with Leddy removed from the roster, so it’s easy to tie Leddy’s waiver placement with an impending Mukhamadullin activation.
If Leddy clears waivers, he can be reassigned to the Barracuda, opening up the necessary roster spot for Mukhamadullin’s activation. If Leddy is claimed off waivers, the same goal is achieved — a roster spot is opened up for Mukhamadullin.
Today’s development is an unfortunate one for Leddy, who, at 34, is a veteran of 1,061 NHL games. He hasn’t played in the AHL in more than a decade, his most recent AHL experience coming in 2012-13 with the Rockford IceHogs. His play in 2025-26 has, unfortunately, paved the way for this sort of transaction. He’s struggled this season, frequently finding himself a healthy scratch as the Sharks linger in the Western Conference playoff race.
Leddy’s time on ice per game is down to 17:30, including no power play time and 1:31 of penalty-killing time per game. That’s a distinct decline from how much he was played as recently as 2023-24. That season, Leddy was the St. Louis Blues’ No. 2 defenseman, averaging 22:21 time on ice per game and serving as a top penalty-killer alongside Colton Parayko.
Leddy’s form in San Jose has made those days seem like a distant memory, but his compensation ($4MM cap hit through the end of the year) is still commensurate with his former steady top-four role.
That mismatch between Leddy’s current on-ice value and his level of compensation is likely to keep him from being claimed off of waivers. Although there might be some teams who believe they can get more out of Leddy than he’s provided San Jose, his cap hit likely means he carries too much risk to be claimed.
There are other possibilities on the table to keep Leddy in the NHL, such as a trade, but the Sharks only have one slot left to retain salary, so they might only look to find a trade where the other team can take on the full freight of Leddy’s remaining salary.
Leddy could also elect to sacrifice the remaining portion of his salary and agree on a mutual contract termination, paving the way for him to freely sign with any team willing to offer him a guaranteed NHL role. Two players have already taken that path this season: Egor Zamula and Alexandre Texier. That option worked quite well for Texier in particular, as he seized on the NHL opportunity he sought and got a two-year, $2.5MM AAV contract extension as a result.
If Leddy and the Sharks were to take this route, Leddy would almost certainly sacrifice the remaining pro-rated portion of his $3MM salary for what is left of 2025-26.
There’s no firm indication at this point as to what lies ahead for Leddy. It’s still possible a team could elect to claim him off waivers, and it’s also possible he feels no great pressure to avoid an AHL reassignment at any cost. In any case, today’s move by the Sharks makes Leddy a name to watch in the near future, especially for a team in need of more experienced defensive depth such as the Buffalo Sabres.
Photos courtesy of Robert Edwards-Imagn Images