Former Oiler Taylor Hall traded in blockbuster three-team deal involving Mikko Rantanen

Just a few weeks ago, reports surfaced that Taylor Hall is likely to be traded for only a third round draft pick.

UPDATE: The full trade is as follows:

According to NHL insider Frank Seravalli, the full terms of the trade aren't yet known, but Taylor Hall will head to the Carolina Hurricanes, Mikko Rantanen to the Carolina Hurricanes.

The return to the Colorado Avalanche isn't yet known, but it seems likely that Martin Necas would be the player in return - the elite young centreman was floated in trade rumours all season. Jesperi Kotkaniemi is involved as well.

Needless to say, this trade will go down as one of the biggest in recent NHL history.

Taylor Hall was drafted by the Oilers 1st overall in 2010, and is now 33 years old at the tail end of a great career, posting 721 points in 828 games.

Mikko Rantanen may be the biggest star in the entire trade. The 28 year old is in the final year of his contract before commanding a major raise in salary next season, and has produced above 100 point pace for the last three seasons.

The Chicago Blackhawks will retain half of Rantanen's $9.25M salary in the trade, and none on Taylor Hall.

Martin Necas is a skilled 26 year old center under contract for this year and next year, and has begun to produce at an elite rate offensively the last two years.

This story will be updated as the full details of the trade is published. Surely, it will be a complicated deal with more assets and possible salary retention.