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New York Rangers news: Ryan Callahan traded for Martin St. Louis

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Ryan Callahan was traded to the Tampa Bay Lightning for Martin St. Louis.

Jerome Miron-USA TODAY Sports

The New York Rangers have traded Ryan Callahan and a first and second round pick for Martin St. Louis, according to Renaud Lavoie of RDA Sports. Bob McKenzie of TSN was also reporting a deal was close all morning, as well as Larry Brooks of The New York Post. A day after both sides appeared to make progress, talks tailed off on Wednesday in the hours leading up to the deadline, and the Rangers and Sather changed directions and pursued a trade to ensure Callahan wouldn't just walk this offseason for no compensation.

St. Louis, a 38-year-old forward, has scored 29 goals this season for the Lightning. He's six times reached the 30-goal plateau in his career, in which he's tallied 369 total goals. He won a Stanley Cup with Tampa Bay in 2004, and is familiar with Rick Nash from Hockey Canada, as the pair have won two gold medals together.

Another interesting note here is that per McKenzie: Tampa Bay views Callahan as a rental, and isn't interested in giving out the six-year extension Callahan is looking for, which would make Callahan a free agent this summer. St. Louis, on the other hand, St. Louis is signed through next season at $5.625 million.

As for the picks the Rangers sent Tampa Bay in this deal, the first round pick is for 2015, and the second round pick for 2014's draft, which becomes a first round pick if the Rangers reach the conference finals this season. Also, per TSN' Darren Dreger, if Callahan does end up signing an extension with the Lightning, the Rangers gets back a conditional pick.

UPDATE: