"After several days of speculation surrounding goaltender Semyon Varlamov’s future in both Washington and the NHL, the Capitals announced that they’ve traded the 23-year-old Russian to the Colorado Avalanche.

In return for Varlamov, Washington acquired Colorado’s first round pick in the 2012 NHL Entry Draft along with a second round selection in either 2012 or 2013.

This week, reports based on comments from Varlamov’s Russian agent surfaced stating that the former first-round draft pick had opted to return home and play in the Kontinental Hockey League. Although Varlamov is a restricted free agent and received a qualifying offer from the Capitals, if he had departed for the KHL, the team would have received nothing in return for one of its top young assets. "