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LOS ANGELES -- The Los Angeles Kings have signed left wing Alexei Ponikarovsky to a one-year deal after falling short in their pursuit of Ilya Kovalchuk.

Ponikarovsky's deal is worth $3.2 million, a source told ESPN.com's Scott Burnside.

Ponikarovsky scored 21 goals last season with Toronto and Pittsburgh, which acquired him in a trade last March 2. The longtime Maple Leafs forward, who agreed to terms with the Kings on Tuesday, has scored at least 20 goals in four of the past five seasons.

Ponikarovsky, who was taken by the Maple Leafs in the fourth round of the 1998 draft, has 116 goals and 150 assists in 493 career games. Pittsburgh acquired Ponikarovsky from Toronto in March for prospect Luca Caputi and defenseman Martin Skoula.

Ponikarovsky is a consolation prize for the Kings, who spent three weeks attempting to sign Kovalchuk before the Russian forward chose a more lucrative offer from the New Jersey Devils. Kovalchuck's future, however, is still up in the air after the league rejected his 7-year, $102 million contract with the New Jersey Devils last week.