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One rumor, officially from the water cooler at the Denver Post (Per Avs beat writer Adrian Dater), has Colorado sending star Paul Stastny, winger TJ Galiardi, and another player or draft pick to the Los Angeles Kings. In return, the Avalanche would receive defenseman Jack Johnson, goaltender Jonathan Bernier, and forward Jarret Stoll.
This deal is probably the least likely to gain any footing and actually happen. The Kings are actually pretty high on their backup netminder Bernier, even though they have a great starter in Johnathan Quick. They also are asking a high price for Johnson, I'm told.
That being said, Stastny would provide that 1-2 punch with Anze Kopitar the Kings have been seeking for a couple of seasons. Galiardi would fit in well on any of the Kings' top three lines, and an additional player like John-Michael Liles would make up for the loss of Johnson.
From the Avs' perspective, the deal would further their mission of beefing up on the blue-line. Adding Erik Johnson, and then Jack, would provide a physically formidable defensive corps. Bernier would solve their goaltending woes, and Stoll would be one more body on an injury depleted roster.
It's unlikely the Avalanche will part with Stastny, and the other consideration is the salary cap. He and Liles make over 10 million dollars toward the cap, so some salary would need to come back to the Rocky Mountains. However if both teams want it done, they'll find a way.