TSN reports that Lawrence Nycholat, a prospect and a draft pick are going to Colorado in order to bring Jordan Leopold back to where he started his career. Leopold was an excellent contributer during Calgary's run to the finals in 2004.

Leopold makes $1.5-million and is going to be an unrestricted free agent on July 1. From the Avs' perspective, they're looking at getting a lottery pick this season so they're going to try and move out as many UFAs as possible.

I'll have more once we know the full return going Colorado's way.

UPDATE Colorado receives a second-round pick (which was originally Montreal's), Nycholat and prospect defenceman Ryan Wilson.

Wilson played junior here in Toronto, so I've seen him quite a bit and I think he could eventually turn out to be a decent depth player. He put up a ton of points in the OHL and has been holding his own in his first AHL season with Calgary's affiliate.

Colorado makes out just fine in this deal given Leopold's only a rental and a depth defenceman. He was only playing 18 minutes a night with the Avs but is likely to log more ice time with the Flames alongside Robyn Regehr.