Breaking: Erik Karlsson has been traded

It's all over people! Erik Karlsson has been traded!

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According to a report from NHL insider and TSN analyst Darren Dreger, members of the San Jose Sharks are being told that they're headed to Ottawa as part of a trade with the Ottawa Senators. The speculation is that superstar Erik Karlsson is headed to the Sharks.

UPDATE: David Pagnotta of The Fourth Period has confirmed Dreger's report. Karlsson has FINALLY been traded.

More details to come.

The Athletic's Pierre LeBrun has confirmed that the deal is done. Erik Karlsson is a member of the San Jose Sharks:

Told that the official trade call was just completed. Erik Karlsson has been traded to the San Jose Sharks

UPDATE: Ottawa Citizen and Sens insider Bruce Garrioch has confirmed the return for the Sens in the deal.

Check it out:

Sources say the #Sens have dealt Erik Karlsson to the Sharks in exchange for Chris Tierney, Dylan DeMelo, Josh Norris, Rudolfs Balcers, 2020 1st, 2019 2nd and two conditional picks.

Wow! The rebuild is officially on in Canada's capital city. That's two players, two prospects, a 1st round pick, a 2nd round pick and two conditional picks in exchange for Karlsson. Wow... just wow. 

Oh and in case you were wondering, the newest member of the Sharks will make his return to Ottawa on December 1st.

Erik Karlsson and the San Jose Sharks will make their first visit to Ottawa on Saturday, December 1st. Our pre-game coverage STARTS NOW on .

UPDATE: The Sharks have officially confirmed the transaction:

Read below for the official press release courtesy of the team's official website:

SAN JOSE, CA - San Jose Sharks (@SanJoseSharks) General Manager Doug Wilson announced today that the club has acquired two-time James Norris Trophy-winning defenseman Erik Karlsson (@Erikkarlsson65) and prospect forward Francis Perron from the Ottawa Senators.
In exchange, San Jose has traded forwards Chris Tierney (@Tierney71) and Rudolfs Balcers (@rudolfsbalcers), defenseman Dylan DeMelo (@ddems2), prospect Josh Norris (@joshnorris10), and a conditional 2019 second round selection and a conditional 2020 first round draft selection to the Ottawa Senators (@Senators). If San Jose re-signs Karlsson, Ottawa receives a conditional 2021 second round selection.
"It's extremely rare that players of this caliber become available," said Wilson. "The word 'elite' is often thrown around casually but Erik's skillset and abilities fit that description like few other players in today's game. With Erik, Brent Burns (@Burnzie88) and Marc-Edouard Vlasic (@Vlasic44), we feel we have three of the NHL's top defensemen and stand as a better team today than we were yesterday. We are thrilled to welcome Erik and his wife, Melinda, to San Jose."
"Ultimately, to acquire a player like this, you have to give to get and we are losing some quality players but also some very good people. All of the players leaving our organization have a very bright future in this league and we wish them all the best."
Karlsson captured the James Norris Trophy, awarded annually to the NHL's best defenseman, in 2012 and 2015, and was named as the runner-up for the award twice (2016, 2017).
Since entering the NHL in 2009-10, no defenseman has scored more points than Karlsson with 518 (126 goals, 392 assists) in 627 NHL games, all with the Ottawa Senators. He has finished amongst the NHL's top-10 leading scorers twice (2011-12 [10th]; 2015-16 [4th]) and amongst the NHL's top-10 assist leaders four times (2011-12 [3rd]; 2013-14 [7th]; 2015-16 [1st]; 2016-17 [6th].
Selected in the first round (15th overall) by Ottawa in the 2008 NHL Draft, Karlsson has been named a NHL First-Team All-Star four times (2011-12, 2014-15, 2015-16, 2016-17) and been selected to five NHL All-Star Games. He has served as the captain of the Senators since Oct. 2014.
In 48 Stanley Cup Playoff games with Ottawa, Karlsson has posted 37 points (six goals, 31 assists)
Last season with Ottawa, he led the team in average ice time (26:44, 3rd in the NHL), was second in blocked shots (120), takeaways (55) and second in scoring with 62 points (nine goals, 53 assists).
The six-foot, 190-pound native of Landsbro, Sweden has also crafted a distinguished international career. He has represented his native Sweden at the U-18 World Juniors (2008 - bronze medal), World Jr. Championships (2009 - silver medal), World Championships (2010 - bronze medal), 2014 Winter Olympics (silver medal) and the 2016 World Cup of Hockey.
Perron, selected by Ottawa in the seventh round (190th overall) of the 2014 NHL Draft, has spent the last two seasons with Ottawa's American Hockey League affiliate.
Tierney, selected by San Jose in the second round (55th overall) in the 2012 NHL Draft, posted 104 points (41 goals, 63 assists) in 284 games. DeMelo, selected by San Jose in sixth round (178th overall) in the 2011 NHL Draft, recorded 32 (three goals, 29 assists) in 133 games played. Balcers, selected by San Jose in the fifth round (142nd overall) of the 2015 NHL Draft, spent last season with the San Jose Barracuda. Norris, selected in the first round (19th overall) in the 2017 NHL Draft is entering his sophomore season with the University of Michigan.