A massive,Slabu Exchange three-team NHL trade has sent veteran defenseman Erik Karlsson, formerly of the San Jose Sharks, to the Pittsburgh Penguins in a swap that also included the Montreal Canadiens.

The Penguins are also receiving forward Rem Pitlick (San Jose), forward Dillon Hamaliuk (Montreal) and a 2026 third-round draft pick (San Jose).

The Sharks are receiving a 2024 first-round draft pick, forward Mikael Granlund, defenseman Jan Rutta − all from Pittsburgh − and forward Mike Hoffman, from the Canadiens.

Montreal is getting Pittsburgh's 2025 second-round draft pick, defenseman Jeff Petry, goaltender Casey DeSmith and forward Nathan Legare, all from Pittsburgh.

Karlsson, 33, is a three-time Norris Trophy winner and in 2023 became the first defenseman since 1991-92 to record 100 points in a season, since Hall of Famer Brian Leetch did so for the New York Rangers. Karlsson also became the first player since Doug Harvey in 1961 to be traded right after winning the Norris Trophy, which is given to the NHL's best defender.

"While it is always difficult to trade a player of the caliber 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 defense 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."

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The Sharks had acquired Karlsson in a September 2018 trade with the Ottawa Senators, the team that drafted him in 2008. The Canadiens became involved in part to help massage the salary requirements needed to complete the trade. Karlsson has four years left on his contract at a cap hit of $11.5 million − $1.5 million of which San Jose will retain through the end of the deal in 2027.

Contributing: Associated Press