Penguins land Norris Trophy winner Karlsson in 3-way trade with Sharks, Canadiens

The Pittsburgh Penguins have acquired Erik Karlsson in a blockbuster trade with the San Jose Sharks that also includes the Montreal Canadiens.

Pittsburgh traded a 2024 first-round pick, forward Mikael Granlund and defenceman Jan Rutta to San Jose and goaltender Casey DeSmith, defenceman Jeff Petry, a 2025 second-round pick and prospect Nathan Legare to Montreal as part of the deal for the three-time Norris Trophy winner.

Karlsson is the first defenceman to be traded fresh off winning the Norris as the NHL's top defenceman since Doug Harvey in 1961. The 33-year-old Swede became the first player at the position to record 100 points in a season since Brian Leetch in 1991-92.

"While it is always difficult to trade a player of the calibre of Erik Karlsson, this trade accomplishes several goals for our franchise," Sharks general manager Mike Grier said. "It adds two forwards to our roster who have proven ability to produce offensively at the NHL level and solidifies our NHL defence corps. Additionally, acquiring another first-round pick gives us the opportunity to continue fortifying our development system with high-end prospects and provides us some financial flexibility to add players as we see fit in the future."

The complicated trade involved the Canadiens to make the salaries work. Karlsson has four years left on his contract at a cap hit of $11.5 million US — $1.5 million of which San Jose will retain through the end of the deal in 2027.

As part of the trade, the Penguins also received forward Rem Pitlick, prospect Dillon Hamaliuk and San Jose's 2026 third-round pick. The Sharks also got Mike Hoffman from the Canadiens.