The Calgary Flames have filed an offer-sheet on Colorado Avalanche forward Ryan O'Reilly.

The offer sheet carries an average annual value of $5 million. O'Reilly will make $1 million in base salary for 2012-13 with a signing bonus worth $2.5 million. His 2013-14 salary will be $6.5 million.

Colorado has seven days to match the offer or accept compensation from the Flames. Should the Avalanche choose not to match the offer-sheet they would receive Calgary's first- and third-round choices at the 2013 NHL Draft.

With a second-year salary of $6.5 million, a potential qualifying offer for O'Reilly's next contract would have to equal that amount. If Colorado decides to match the Flames' offer he can not be traded within one calendar year of that date.