Ryan O'Reilly and the Colorado Avalanche were unable to reach a deal for more than a month.
A few hours after he signed an offer sheet with Calgary, the restricted free agent was back with the Avalanche.
The Flames announced earlier Thursday that they had signed O'Reilly to a multiyear offer sheet. Colorado had a week to match it, but did so by the end of the day.
The team announced the decision during the first period of Thursday night's game against Calgary.
''This was a goal of ours from the outset, to get Ryan signed,'' Avalanche general manager Greg Sherman said. ''That goal has never changed. Sometimes the process takes a little longer than you would expect or want, but he's staying with the Colorado Avalanche.''
Sherman said the speed with which Colorado matched the offer showed its commitment to O'Reilly.
''Given the timeframe we moved on this, it's clear what our object was,'' Sherman said. ''We moved very quickly and efficiently to make a decision to match the offer....