One of the NHL's long-rumored deals finally took place today, as the Edmonton Oilers traded defenseman Joni Pitkanen to the Carolina Hurricanes for forward Erik Cole.

The Hurricanes apparently tried to acquired Pitkanen last summer from the Philadelphia Flyers before he was dealt to the Oilers, and while Edmonton GM Kevin Lowe had hoped to re-sign Pitkanen, a restricted free agent, his acquisition of Lubomir Visnovsky signaled the Finnish blueliner wouldn't be an Oiler much longer.

It's a trade that on paper should address the needs of both clubs. The Hurricanes were seeking a top-two puckmoving defenseman and the Oilers were in the market for a top six forward.

The Hurricanes have to re-sign Pitkanen and he's reportedly seeking nearly $5 million per season, while Cole has another season remaining on his current contract at $4 million.