Washington trades Semyon Varlamov to the Colorado Avalanche for a 2012 1st round pick and a 2012 or 2013 2nd round pick (Capitals choice of which 2nd round pick).
Gord Miller via twitter: The Avalanche may have signed Varlamov to a deal similar to Carey Price, a 2 year deal worth $5.5 million.
Dmitry Chesnokov via twitter: The reported 2 year, $5.5 million deal likely much more than what the caps offered.