As per CBC Sports’ Tim Wharnsby, the Colorado Avalanche and Mikhail Grigorenko have settled on a one-year contract worth $1.3M ahead of Friday’s salary arbitration date.

Grigorenko, 22, was the 12th overall draft pick in 2012 before becoming a major piece of the Avalanche’s pivotal Ryan O’Reilly trade with the Buffalo Sabres. Last season Grigorenko scored career highs in all categories, with 6 goals and 27 points in 74 games played for the Colorado Avalanche.

Grigorenko began last season as the team’s 13th forward, spending time as the 4th line center and as a healthy scratch in the press box. Tim Army and the Avalanche coaching staff paid particularly close attention to the young forward and worked specifically on his defensive game and puck protection, both of which flourished as the season wore on. Grigorenko steadily worked his way up the lineup until he earned a regular spot on the wing in the teams’ Top 6, where he played a key defensive role and began to produce more offense. To out-earn his contract and earn a protected spot on the Avalanche heading into next year’s expansion draft, Grigorenko will need to pick up where he left off and improve on last year’s point totals.

With Grigorenko’s signing the Avalanche have just under $6.5M remaining in cap space with one unsigned player: Tyson Barrie. Barrie and the Avalanche are scheduled to go to arbitration next week on July 29th.