Vlasic has been a staple in the Bay Area for the better part of the past two decades. He has played all 1,465 games of his NHL career for the Sharks since debuting in 2006.

The 38-year-old was set to count $7 million against the salary cap in 2025-26. Buying him out saves San Jose $2.3 million, while counting $1.2 million extra in ’26-27.

“This was a difficult decision to make today, with how much Marc has meant to the San Jose organization for 19 years,” general manager Mike Grier said on Thursday. “I was fortunate enough to be here with Marc for his first season with the Sharks and knew he would become a great defenceman. Over the course of his career in the NHL, Vlasic was one of the premier shutdown defencemen, earning tough defensive assignments on the ice against the best players in the world and doing it with effectiveness.”

Hall of Famers Ray Bourque and Nicklas Lidstrom are the only defencemen who have played more games in the league with one team than Vlasic, counting the regular season and playoffs.

Vlasic was a significant part of their core during the contending days when they reached the playoffs in 13-of-14 years and went to the Stanley Cup Final in 2016.

A native of Montreal, Vlasic was a key part of Canada’s gold-medal run at the 2014 Sochi Olympics. He missed much of last season because of injuries but skated in 27 games and had three points.

“He brought immense expertise and experience to the organization daily, and was selected to represent his country on multiple occasions at the highest level,” Grier said. “He will go down not only as one of the best defencemen in franchise history but one of the best players. We want to thank him for his dedication and commitment to the organization, and wish him all the best.”