Rumors are swirling that the Ottawa Senators have agreed to send Dany Heatley to the Edmonton Oilers for Andrew Cogliano, Dustin Penner and Ladislav Smid.

This move could come within just minutes of Heatley being due a $4 million bonus for being on the Senators' roster at 12:01 AM on July 1; Heatley still needs to waive his no-trade clause.

Heatley, a two-time 50 goal scorer, finished last season with 72 points. However, he has been very public with his trade demands. This is the second team from whom Heatley has reportedly forced a divorce in his career.

Penner, 27 in September, is the most experienced player moving from the Oilers to Ottawa. He saw his ice time cut back by almost two minutes a game last season, and scored just 37 points. He reportedy asked to be traded in June.

Cogliano and Smid, younger players of just 22 and 23 years respectively, figure to help Ottawa replenish their depth.

UPDATE - 12:15 AM EST

TSN is reporting that Heatley has opted to not waive his no-trade clause, keeping him in Ottawa.