The Red Wings will receive a second-round pick in the 2019 NHL Draft and a conditional third-round pick in 2020 for the forward, who is in the final season of a four-year contract signed July 10, 2015. Nyquist can become an unrestricted free agent July 1.
Nyquist, 29, has 49 points (16 goals, 33 assists) in 62 games this season. He scored against the Sharks in Detroit's 5-3 loss at Little Caesars Arena earlier Sunday.
"To find a top-six forward that's really versatile, plays the game the way he does, good speed, he sees the game in a great way," Sharks general manager Doug Wilson said of Nyquist on Monday. "That was an ingredient that we identified would be nice to add.
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"I think you watch his game yesterday [when he scored a goal in Detroit's 5-3 loss to San Jose], not that that was the final viewing or decision, but ... he had eight shots ... he made things happen every time he was out on the ice. We felt that a guy like him, you'd have to give a certain price. The thing for us was we didn't want to give up any players off our roster, we didn't want to give up any of our younger players, our top prospects that are close to playing. So we took that into consideration when we went after [Nyquist]."
Selected by Detroit in the fourth round (No. 121) of the 2008 NHL Draft, Nyqvist has 295 points (125 goals, 170 assists) in 481 regular-season games. He has eight points (four goals, four assists) in 35 Stanley Cup Playoff games.
San Jose (37-18-8) is in second place in the Pacific Division, three points behind the Calgary Flames.
Detroit will receive the lower of San Jose's or the Florida Panthers' 2019 second-round selections, along with the Sharks' third-round pick in 2020.
Should San Jose reach the 2019 Stanley Cup Final or re-sign Nyquist, the third-round pick in 2020 becomes San Jose's second-round selection.
