Los Angeles Kings general manager Dean Lombardi hoped to land a quality veteran forward via this summer's unrestricted free agent market but when he came up short opted to go the trade route. 

Having missed out on signing Marian Hossa and Mike Knuble, Lombardi on Friday dealt defensemen Tom Preissing and Kyle Quincey plus a fifth round pick in 2010 to the Colorado Avalanche in exchange for forward Ryan Smyth. 

It's a surprising move by Lombardi considering what he was trying to land via free agency and an interesting one. 

Smyth, 33, is coming off a 26-goal, 59 point performance in 77 games with the woeful Avalanche last season. The fourteen year veteran is respected for his gritty two-way play and his leadership, which should make him a good addition to a young Kings team trying to build itself into a playoff contender. 

He comes with a downside however, as he's approaching his mid-thirties and his best seasons are behind him. His aggressive style makes him a fan favorite and an invaluable asset but also leads to injuries. The last time he played a full 82-games in a season was 2003-04. 

Smyth's salary is also expensive, as he earns $6.25 million per season on a contract that runs through the 2012/13 season. 

Dealing away Quincey and Preissing freed up about $3.2 million which helps but puts the Kings payroll at around $49 million for next season. Giving up Quincey, who was a pleasant surprise for the Kings last season after coming over from Detroit in an early season trade, seemed a bit much.  

Still, it's a move Lombardi felt he had to make. His team lacked a player with the lead-by-example qualities of Smyth and his presence could be what finally puts the Kings over the top. 

As for the Avalanche, this move is part of their rebuilding process, landing two quality defensemen who will bolster their blueline depth and also possess the puckhandling skills to improve their offensive game. 

It's also possible shedding Smyth's salary might be the prelude to signing long-time captain Joe Sakic for one more year. Sakic has said he's made a decision on his future but has yet to reveal it. Speculation has him returning for one more season not just to help the Avalanche but to qualify for Team Canada at the Winter Olympic in Vancouver. Sakic grew up in the Vancouver suburb of Burnaby. 

The Columbus Blue Jackets took a major step on Friday to maintain the stability of their franchise and retain a key building block in their recent development by re-signing star winger Rick Nash to a multi-year contract extension.

Nash, who was eligible next summer to become an unrestricted free agent, will be on an eight-year, $62.4 million contract starting in 2010-11, which will be a $7.8 million hit per season to the Jackets cap. 

It's the right move for the Jackets, a team which over the past two seasons have finally built themselves into a legitimate playoff contender. Nash is the face of the franchise and the star to build around in the coming years. 

Some might question paying him that much but if the Jackets didn't he would've easily received that much money - perhaps more - next summer on the open market, even if as expected the salary cap declines. 

It's believed the Toronto Maple Leafs would've been very interested in signing Nash, a hometown boy who grew up idolizing the Leafs. 

Nash has yet to fully blossom into a superstar but there's no questioning his offensive ability. He's a former co-winner of the Richard trophy in 2003-04 for most goals in a season and has twice cracked the 40-goal mark in his young career. 

Last season the 25-year-old winger had 40 goals and a career-best 79 points in 78 games and three points in four post-season games. 

Nash is poised to enter his playing prime and has the potential to become a fifty-goal scorer, and as one Columbus scribe observed he's worth every penny of his new contract, comparing him to Jarome Iginla's worth to the Calgary Flames. 

He's the franchise player and well worth the money. 

After weeks of speculation over the contract status of San Jose Sharks winger Ryane Clowe various sources report the club has re-signed him to a multi-year deal. 

Clowe's new contract is for four years and $14 million, counting as $3.5 million per season. 

Heading into last week's NHL entry draft weekend there was talk negotiations between the two sides had stalled. GM Doug Wilson even entertained offers for Clowe, although it could've merely been a ploy on his part to force negotiations along. 

Whatever the reason Clowe's now under contract for four years and the 26-year-old winger could go on to become a valuable part of the Sharks offensive attack. 

Last season was Clowe's best to date, with 22 goals and 52 points in 71 games, which was also his healthiest thus far. Injuries have plagued him throughout his four year NHL career but if he can stay healthy he has the potential to reach 30 goals and perhaps 65-70 points. 

Unrestricted free agency is often a strong temptation for players to leave their teams in search of bigger bucks with other teams. 

Sometimes, however, there are exceptions to that rule. Sometimes, playing on the same line with a superstar on a Stanley Cup champion is not only incentive to stay put but also to accept a pay cut if that team has limited cap space. 

Such was the case for Ruslan Fedotenko, who re-signed a one-year contract with the Pittsburgh Penguins worth $1.8 million, down from the $2.2 million he made last season. 

The Penguins wanted to keep Fedotenko, particularly after his strong performance in this spring's playoffs, but their limited cap space led to expectations he'd follow Rob Scuderi out of town in search of a better contract. 

Playing on Evgeni Malkin's wing evidently is a very strong motivator to stick around and accept less money. I'm guessing that if Fedotenko has another good year the Penguins will re-sign him to a longer term for more money next year when they potentially have more cap space. 

Vancouver Canucks general manager Mike Gillis bolstered his forward lines today by signing former Detroit Red Wings winger Mikael Samuelsson to a three-year contract. 

Financial terms weren't disclosed but will be posted as soon as they become available.

Samuelsson should be a significant addition to the Canucks forward lines. He's netted 40 or more points in three of the past four seasons and he's proven himself a clutch two-way playoff performer. 

Along with other solid two-way players like Ryan Kesler and Alex Burrows, Samuelsson will help make the Canucks even stronger at both ends of the rink.