Pens trade Nedved

NHL teams

In a deal intended to shake up both teams, Nedved was packaged with center Sean Pronger and defenseman Chris Tamer to the Rangers in exchange for right wing Alexei Kovalev, center Harry York and future considerations, which is likely to be cash.

The bankrupt Penguins had wanted as much as $4 million, but NHL commissioner Gary Bettman said he wouldn't allow so much money to change hands.

The Rangers reportedly agreed to the deal after reaching an agreement on a new contract with Nedved, who hasn't played in the NHL since the 1997 playoffs. The three-year contract is believed to be worth slightly less than $4 million a season.

Nedved, 26, sat out the entire 1997-98 season and is currently playing with the Las Vegas Thunder of the IHL. He had promised never to play for the Penguins again.

"We are fortunate to add a world-class player like Alexei under these difficult circumstances," said Penguins general manager Craig Patrick. "We finally feel we received proper value for our unused asset."

The Florida Panthers also were bidding for Nedved, who had 170 points in 154 games with Pittsburgh, including 45 goals and 54 assists in 1995-96.