After months and months of negotiations, it looks like this trade has finally crossed the finish line.

The Calgary Flames have traded goaltender Jacob Markstrom to the New Jersey Devils in exchange for Kevin Bahl and a 2025 first-round pick.

Calgary retains 30% of his contract, reducing Markstrom’s salary from $6 million per season to $4 million. The 2025 first-round pick sent to Calgary will be top 10 protected.

TSN’s Travis Yost shared the news on Wednesday morning, which Daily Faceoff’s Frank Seravalli confirmed shortly after.

The trade rumours surrounding Markstrom and the Devils have been a source of intense speculation since last year’s trade deadline. According to multiple reports, the Flames and Devils had an agreement on the table, and Markstrom agreed to waive his no-movement clause. However, Flames ownership later shut down the agreement, leaving Markstrom frustrated and upset with the team.

In our latest Rumour Mill, we discussed how the Ottawa Senators entered the goalie market. The team made it public that their 7th overall pick would be in play to acquire a high-quality goaltender. However, Sportsnet’s Elliotte Friedman questioned Markstrom’s willingness to waive to go to the Nation’s Capital. Friedman hinted that Markstrom wanted to play for a contending team and was hesitant that Ottawa would fit that bill.

Markstrom, 34, has two years remaining on his 6-year deal, which he signed with the Calgary Flames in the 2019-2020 offseason. The Devils will take on Markstrom’s $4 million per season and full no-movement clause.

The Swedish goaltender had a bounceback season, finishing with a 23-23-2 record, a 2.78 goals-against average, a .905 save percentage, and two shutouts.

Kevin Bahl is a 23-year-old defenceman who played all 82 games for the Devils last season. The left-shot defenceman scored one goal and 11 points and finished with a +1 rating while averaging 17:23 minutes of ice time. Bahl has one year remaining on his two-year $1.05 million contract.