SAN JOSE >> The San Jose Sharks are unceremoniously parting ways with one of the organization’s longest-tenured players, announcing Thursday that longtime NHL defenseman Marc-Edouard Vlasic will be placed on unconditional waivers for the purpose of a contract buyout.

Vlasic, 38, was entering the final year of an eight-year, $56 million contract that carried an average annual value of $7 million. Vlasic was drafted by the Sharks in 2005 and played all of his 1,323 games with the franchise over 19 seasons, but is now set to become an unrestricted free agent for the first time in his career.

“This was a difficult decision to make today, with how much Marc has meant to the San Jose organization for 19 years,” said Sharks general manager Mike Grier, who played with Vlasic in San Jose from 2006 to 2009. “I was fortunate enough to be here with Marc for his first season with the Sharks, and knew he would become a great defenseman.”

“Over the course of his career in the NHL, Vlasic was one of the premier shutdown defensemen, earning tough defensive assignments on the ice against the best players in the world and doing it with effectiveness.”

In January, Vlasic became just the 21st defenseman in NHL history to play in at least 1,300 games. With the departure, Vlasic leaves the Sharks second on the team’s all-time games played list, trailing only Patrick Marleau (1,607).

“With over 1,300 games in the NHL, (Vlasic) brought immense expertise and experience to the organization daily, and was selected to represent his country on multiple occasions at the highest level,” Grier’s statement continued. “He will go down not only as one of the best defensemen 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.”

NHL teams have until Monday at 2 p.m. (PDT) to buy out players’ contracts.

Vlasic, per PuckPedia, was set to make $3.5 million in base salary this upcoming season with a $2 million signing bonus. The move will save the Sharks $2,333,333 under the salary cap for this upcoming season, although the team already had tens of millions of dollars in available cap room.

Vlasic’s contract will stay on the Sharks’ books for the 2026-27 season at $1,166,667.

While the Sharks save some money under the cap next season, waiving Vlasic also opens up a spot on the 23-man roster and alleviates, to some degree, the team’s logjam of left-side defensemen.

As of now, the Sharks have Mario Ferraro, Henry Thrun, and Shakir Mukhamadullin all signed through next season. Sam Dickinson, Luca Cagnoni, and Lucas Carlsson are also left-shot defensemen who will be vying for roster spots at training camp this fall.

While the Sharks have no interest in handing out long-term contracts to players in their late twenties or early thirties, more moves are on the way. The Sharks, per PuckPedia, have over $44 million in available cap space for next season and will need to expand their payrolls by tens of millions this summer just to reach the 2025-26 salary cap floor of $70.6 million.

The Sharks have finished at the bottom of the NHL standings for two straight years, allowing more goals than any other team in the league in both seasons. Fixing that and supporting incoming goalie Yaroslav Askarov is Grier’s primary focus right now.

“We’ve got a lot of work to do,” Grier said Tuesday. “We’re starting to lay the foundation, but we need to get better on the back end.”