NHL Draft Lottery: When is it, what are the Sharks’ chances, and how does it work?

The NHL Draft Lottery, perhaps the biggest event on the San Jose Sharks’ calendar this year, will be held on May 7, the league announced Friday.

The lottery will take place at the NHL Network’s studio in Secaucus, N.J., and will be broadcast in the U.S. on ESPN, and on Sportsnet and TVA Sports in Canada. The NHL said a specific time for the lottery will be announced next week.

The lottery determines the selection order for the first 16 picks in the first round of this year’s draft.