Penguins acquire Karlsson from Sharks in 3-team trade with Habs

It required a three-team trade involving nine players, but Erik Karlsson is now a member of the Pittsburgh Penguins. The San Jose Sharks sent the star blue-liner, prospect Dillon Hamaliuk, and a 2026 third-round pick to Steel City on Sunday in exchange for veteran forward Mikael Granlund, defenseman Jan Rutta, and a 2024 first-rounder. The Montreal Canadiens received rearguard Jeff Petry, goaltender Casey DeSmith, winger Nathan Legare, and a 2025 second-round selection from Pittsburgh.In addition, the Penguins also got forward Rem Pitlick from Montreal, while the Sharks received Mike Hoffman. The Sharks are retaining $1.5 million of Karlsson's $11.5-million cap hit. He has four years remaining on his pact. The Penguins, meanwhile, will retain 25% of Petry's $6.25-million salary. He is under contract for the next two seasons. Karlsson paced all defensemen this past season with 25 goals and 101 points while skating in all 82 games for the first time since 2015-16. He also became the first rearguard to hit the 100-point mark since Brian Leetch in 1991-92.The 33-year-old took home his third career Norris Trophy in June as the league's top defenseman. The last time the reigning Norris Trophy winner was traded in the offseason was in 1961 when the Habs sent Doug Harvey to the New York Rangers, per Daily Faceoff's Frank Seravalli.Even with the retention, Karlsson now carries the highest cap hit ($10 million) on the Penguins. Pittsburgh shed around $3.1 million in cap space as a result of the trade, per CapFriendly, and is now approximately $80,000 over the cap. The Penguins can gain $6 million in relief with the ailing Jake Guentzel on long-term injured reserve to begin the season.