TORONTO (July 1) -- Ryan Smyth has instructed agent Don Meehan to proceed with the Colorado Avalanche, accepting a five-year contract worth $31 million. Contract breaks down as follows:

Year 1: $8 million ($4 million salary/$4 million signing bonus)

Year 2: $7.25 million

Year 3: $6.5 million

Year 4: $5.25 million

Year 5: $4.0 million

Contract has a no-movement clause.

Meehan has told Avs' GM Francois Giguere that Smyth is his if he accepts all terms of the deal. Could be done soon.

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