Breaking: Three way trade between Flyers, Kings and Blue Jackets!

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.

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.

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.