Unable to reach a long-term deal with their heart-and-soul player, the Edmonton Oilers instead traded Ryan Smyth to the New York Islanders for prospects Ryan O'Marra and Robert Nilsson and the Islanders' first-round pick in 2007.
"Today we turned a page for sure – but this is not as much about the Oilers today, but what we continue to do as part of an overall plan," said general manager Kevin Lowe. "I want to be very clear that making this trade today is a hockey decision. It was not financial."
The two-year, $7 million US contract Smyth signed in 2005 expires after this season, when he will be eligible for unrestricted free agency.
"I want everyone to know that our decision was much more to do with a plan than a reaction. Ryan is taking a once-in-a-lifetime opportunity. Our opportunity is to have a sound strategy for the future," explained Lowe.
"I would also like to say that Ryan Smyth has contributed a great deal over 12 seasons here in Edmonton. He should be thanked for his contribution on the ice and in the community," said Lowe.
Oilers President and CEO, Patrick LaForge asked that fans remain objective when considering the deal, "while on the one hand some Oilers fans might be distressed that this trade was made today, I want those same fans to be assured that the Oilers will use these excellent young players and our own deep pool of young talent in a new plan for this team."
"This was about the Oilers staying true to a plan. I know our hockey strategy is sound," said LaForge.
The move came as a surprise to many of Smyth's long-time teammates.
"It's shocking," said Oilers captain Jason Smith. "Being a teammate of Ryan's for numerous years and knowing what a great competitor he is, obviously that is someone you don't want to see leave your team."
Added defenceman Steve Staios: "I kind of kidded with Smitty a little bit about it as teammates do but I never expected it to happen. It's pretty shocking. It's tough to lose a teammate you have had for that long and that has meant that much to our team."
It remains possible that Smyth could re-sign with the Oilers in the summer – assuming today's trade didn't sour his thoughts on the prospect of a return.
And, of course, the Oilers would still have to meet his asking price.
Smyth has been a cornerstone of the Oilers franchise since Edmonton selected him with the sixth overall pick in the 1994 draft.
He has scored 265 goals in 770 career games with Edmonton, topping 20 goals eight times.
Smyth is often dubbed Captain Canada because he has represented his country on the ice so many times at the world Championship tournament. He also won gold with Team Canada at the 2002 Olympics.