According to Darren Dreger of TSN, the Calgary Flames have sent an offer sheet to RFA hold out Ryan O'Reilly. The details contained in the offer sheet have been confirmed to be a two-year deal that will pay O'Reilly an average of $5 million per year. There is also a $2.5 million signing bonus attached to that, in addition to his salary going up to as high as $6.5 million in the second year.

The Colorado Avalanche now have seven days to decide whether to match Calgary's offer, or let Ryan O'Reilly walk. If the Avalanche decide to let him walk, they will receive a 2013 1st-round, and 2013 3rd-round draft pick as compensation.

Newport Sports representatives were in New York City earlier this afternoon, and I wouldn't be surprised if they spoke with the New York Rangers about topping Calgary's offer. Although, that's just me speculating. Either way, this officially takes Ryan O'Reilly off of the Rangers radar once and for all.

Thoughts?