UPDATE(12:25 PM ET): Per the Ottawa Senators Twitter account, the team has extended F Milan Michalek for three years, $12MM.

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The Dallas Stars became a big bidder for the services of Jason Spezza over the last couple of weeks. Now, it appears they have landed Ottawa's captain.

DAL trades Alec Chiasson, Alex Guptill, Nicholas Paul and 2nd round pick in 2015 to OTT for Jason Spezza and Ludvig Karlsson. #TSN

— Bob McKenzie (@TSNBobMcKenzie) July 1, 2014

Apparently, according to Mike Heika, Ottawa also included Ludvig Karlsson in the deal.

Obviously, this move turns Dallas into a very serious contender in the Western Conference. The team was already great and on the rise prior to this deal. Now, with a Seguin/Spezza combination in the top-six, you'd like to think the Stars are one of the teams figuring into the contender group at the start of next season.

As for Ottawa's side of the return, it's ... not encouraging. You kind of knew this was going to happen. The one name that people probably do recognize is Alex Chiasson, who had 13G/22A in 79 GP with Dallas last year. He's the 'NHL ready' body Bryan Murray was probably looking for, and he's a lock to start with the team next season.

Otherwise, this deal was mostly a disaster.

We'll see if the day improves any when free agency opens.

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