The Nashville Predators have traded forward Martin Erat and centre Michael Latta to the Washington Capitals in exchange for Filip Forsberg.
The 31-year-old Czech has scored four goals and added 17 assists in 36 games with the Predators this season.
The deal was formally announced shortly before 5pm et on Wednesday, almost two hours after the passing of the NHL's trade deadline.
"They have a great team, they just have to show it on the ice," Erat said on a conference call. "It's just missing a couple pieces here and (there), but they got the right chance every year."
Erat has two seasons remaining on a seven-year, $31.5 million contract he signed prior to the 2008-09 season. That deal carries an average annual value of $4.5 million.
The 18-year-old Forsberg was selected 11th overall by the Capitals in the 2012 NHL Draft.
"It was imperative that we add a potentially dynamic offensive forward such as Forsberg," Predators general manager David Poile said in a statement. "Our goal remains the same -- to win the Stanley Cup. We believe our current team is a playoff calibre team. At the same time, we have to be mindful of the long-term and this deal allows us to acquire a top-end young offensive forward that will help us."
Latta, 21, has scored eight goals and 26 assists in 67 games with the Milwaukee Admirals this season. He was originally selected by the Predators in the third round (79th overall) of the 2009 NHL Entry Draft.
Originally drafted in the seventh round (191st overall) of the 1999 NHL Entry Draft, Erat has scored 163 goals and 318 assists in 723 career games with the Predators.