After several discussions, a deal has finally been struck that sees Phoenix acquiring center Matthew Lombardi from Toronto for a conditional 2014 fourth-round draft pick. If Lombardi signs a new contract with the Coyotes, the draft pick becomes a third-round pick.
"We are very pleased to bring a player like Matthew back to our team," said Maloney. "Matthew is a very strong skater will add quickness and skill to our lineup. He is an intelligent center who will be a great addition to our team and provides us with added depth at the center position."
The Leafs are also paying a portion of Lombardi's $3.5 million salary this season.
Maloney has been trying to acquire a center since the NHL and NHLPA came to terms on a tentative CBA on Jan. 6.
Last season, Lombardi played registered eight goals and 10 assists for 18 points in 62 games with Toronto.
Lombardi, 30, returns to Arizona after spending the 2009-10 season with the Coyotes, where he recorded 19 goals and a career-high 34 assists for a career-high 53 points.
In 508 NHL games with Calgary, Phoenix Nashville and Toronto, Lombardi has collected 97 goals and 157 assists for 254 points, and 285 penalty minutes.