According to TSN's Bob McKenzie, the Leafs have signed recently bought out forward P.A. Parenteau to a one-year deal.

According to various reports, the deal is worth $1.5 million.

Parenteau, bought out by the Canadiens, had 22 points in 56 games with Montreal in 2014-2015. The year prior, with the Colorado Avalanche, Parenteau registered 33 points in 55 games.

In 347 NHL games, Parenteau has registered 227 points, including a career-high 67 points in 2011-2012 with the New York Islanders.

Parenteau, 32, is a speedy right wing who lost favour with head coach Michel Therrien while carrying a $4 million cap hit into the 2015-2016 season prior to the buyout.

Parenteau fits into the mould of short deals the Leafs have signed to give them assets to move at the trade deadline such as Daniel Winnik and Mike Santorelli.