Pierre LeBrun of ESPN reports that the New Jersey Devils have traded Jamie Langenbrunner to the Dallas Stars in exchange for a a conditional third-round draft pick. Langenbrunner was scratched from Thursday’s game after reports surface that the Devils had asked their captain to waive his no-trade clause.

This deal is interesting on a couple of levels. Langenbrunner returns to a team where he spent eight seasons after they drafted him in the second round of the 1993 NHL Entry Draft. The Stars’ general manager, Joe Nieuwendyk, and Langenbrunner were teammates in Dallas and were traded along with each other to the New Jersey Devils in 2002 for Jason Arnott, Randy Mckay and a 1st round selection. Both players were members of Stanley Cup winning teams in Dallas (1999) and New Jersey (2003).

Langenbrunner is the last year of deal and was coming in at a cap hit of $2.8 million. His departure gives the Devils some much needed cap relief, and ostensibly signals that a full-scale rebuild could be on the horizon in New Jersey. The Stars are picking up some depth on the wing and leadership with the 35-year old 16 year veteran.