Report: Kings set to sign an insane contract after blockbuster trade earlier today

UPDATE 3: Alright, folks.... we've got the full details of the trade courtesy of NHL insider Frank Seravalli.

Check it out:

What a haul for Daniel Briere and the Flyers!

There are also multiple reports that Briere and the Flyers are close to a deal that would see goaltender Carter Hart shipped out of Philly too!

Giddy up. There may still be a big silver mug to hand out, but the offseason has unofficially arrived.

Flyers insider Charlie O'Connor though warns not to expect a Hart trade today but that the Flyers are indeed having conversations regarding a potential deal.

UPDATE 2: It looks like there are more picks headed Philly's way in this deal.

From NHL insider Chris Johnston:

And from Sportsnet insider Jeff Marek:

Needless to say... we're gonna need some official confirmation on this deal, but it appears to be an absolute doozy.

UPDATE: While not yet official, it seems that we're getting some clarity on the deal.

Just piecing things together, but here's how it looks like it's all going down:

To PHI: G Cal Peterson (From LA), D Sean Walker (From LA)

To CBJ: D Ivan Provorov (From PHI)

To: LA: 30% retained on Provorov's $6.75 million contract.

So, in effect the Flyers and the Kings offload some bad contracts in order to free up some cap space and make some roster moves. For the Flyers, they get a goalie and a defenseman with some upside in Peterson and Walker. For the Kings, they free up nearly $5 million in cap space and now have the ability to re-sign pending UFA Vladislav Gavrikov. For the Blue Jackets, they get a veteran defenseman who is made completely in the mold of new head coach Mike Babcock.

The cost of business for the Kings was picking up some salary on Provorov, but ultimately I feel like they made out very well in this deal. Peterson's $5 million annual salary is absolutely mind-boggling considering that he fell out of favor with the team this season and was even tossed on waivers at some point. There are reports that they'll now turn their focus to Gavrikov who could command as much as $7 million annually on a short term deal:

The Flyers finally, mercifully move on from Provorov and can now attempt a bit of a reclamation project on Peterson. What'll be most interesting to me will be to see what rookie GM Daniel Briere now does with Carter Hart.

As for the Blue Jackets, they pick up Provorov and now have a pretty solid top four defence with Provorov, Zach Werenski, Adam Boqvist and David Jiricek. Not bad... not bad at all.

Oh... and if you're wondering if the Blue Jackets are concerned with Provorov and his protest against the NHL's Pride Nights, well wonder no more. Blue Jackets GM Jarmo Kekkalainen essentially says that it's a non-issue with his team.

"The great thing about America, for me, is that you have freedom of choice, freedom of opinion and freedom of speech. We've always been an organization that promotes diversity and inclusion, and we're going to keep doing that.

- Jarmo Kekkalainen

Read below for our earlier report on this developing story.

This just in from Sportsnet NHL insider Elliotte Friedman, the Philadelphia Flyers, Los Angeles Kings and Columbus Blue Jackets are currently working on a three way trade.

Multiple other insiders are reporting that Flyers defenseman Ivan Provorov is on his way to Columbus.

More to come.