The trade has no effect on the salary cap of either team for the 2014-15 season, with Briere and Parenteau each scheduled to make $4 million. The difference is Parenteau has an extra year on his contract with Briere entering the final season of his.
Briere waived his no-move clause in order for the trade to be completed.
"An up and coming team, the chance to play for Patrick Roy, those are all very enticing," he said. "Feeling wanted, when the team wants you and they need you, those are all things I'm looking forward to. Having a no-trade clause doesn't mean you're not going to be traded in my mind, it just means you maybe have a chance to pick or choose a little bit more your destination. When they told me it was Colorado I was right away very excited."