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Trade: Leafs acquire Gleason for Liles (Updated)

Carolina Hurricanes v Philadelphia Flyers

PHILADELPHIA, PA - NOVEMBER 21: Tim Gleason #6 of the Carolina Hurricanes skates against the Philadelphia Flyers at the Wells Fargo Center on November 21, 2011 in Philadelphia, Pennsylvania. (Photo by Bruce Bennett/Getty Images)

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The oft-rumored Tim Gleason trade is complete.

Gleason is on his way from Carolina to Toronto, according to the Raleigh News & Observer. In exchange, the Leafs will send defenseman John-Michael Liles and defenseman Dennis Robertson, the Leafs’ sixth-round pick at the 2011 NHL Entry Draft.

Gleason, 30, has spent the last eight years with the ‘Canes after breaking into the NHL with Los Angeles. He represented the U.S. at the 2010 Olympics in Vancouver, capturing a silver medal.

This has been a difficult season for Gleason, though, as he’s appeared in just 17 games and is averaging less than 16 minutes a night. He has no goals, just one assist and a minus-7 rating.

Gleason is in the second of a four-year, $16 million deal.

Liles, 33, is also in the second year of his deal -- a four-year, $15.5 contract. He’s been largely out of the mix for Toronto this season -- really, ever since Randy Carlyle took over as head coach -- and has played just six NHL games this season, spending most of his time with the AHL Marlies.

Toronto is believed to be the first team to trade a player while participating in the Winter Classic. Liles is at the Big House but a healthy scratch for today’s game.

Gleason has a full no trade clause so he would have had to approve the deal. And could affect future trade if Leafs try to move him again.

— James Mirtle (@mirtle) January 1, 2014

Neither team, TOR or CAR, is taking back any salary in this trade. Full value of contracts move with both Gleason and Liles.

— Bob McKenzie (@TSNBobMcKenzie) January 1, 2014

Update: The ‘Canes have made the trade official, with the following statement from GM Jim Rutherford...

“John-Michael is a puck-moving defenseman who has demonstrated in his career that he can make a difference offensively from the blue line.

“Tim has been a valuable player and leader for the Hurricanes for a long time. We thank him for the contributions he has made to the team and the community and wish him all the best as his career continues.”