Updated

After weeks of speculation, the Calgary Flames finally parted ways with star forward and longtime captain Jarome Iginla.

A deal sending Iginla to the Pittsburgh Penguins was completed late Wednesday night. Reports surfaced earlier that Boston was Iginla's landing spot.

The Flames received college forwards Kenneth Agostino and Ben Hanowski and the Penguins' 2013 first-round draft pick.

The 35-year-old was a notable healthy scratch for Calgary's 4-3 win over the Colorado Avalanche at the Saddledome. He's in the final year of his current deal, which will pay him $7 million, and will be an unrestricted free agent on July 1.

A native of Edmonton, Iginla leaves the Flames as their all-time leader in goals (525), points (1,095) and total games (1,219), while placing second in assists (570) after spending all of his 16-plus NHL seasons in southern Alberta.

Agostino, 20, led Yale in scoring with 15 goals and 22 assists in 33 games this season.

The 22-year-old Hanowski just completed his senior season at St. Cloud State. He registered 16 goals and 13 assists in 34 games while serving as the team's captain.