Burke said that Toronto sent forwards Niklas Hagman, Matt Stajan, Jamal Mayers and defenseman Ian White. Coming from Calgary will be Phaneuf, Fredrik Sjostrom and defenseman Keith Aulie
Earlier in the day, the Maple Leafs sent out a note to the media that a news conference was scheduled for 11:30 a.m. TSN reported that "major changes" were to be announced.
Phaneuf, 24, averaged 51.5 points per season from 2005-09. This year, he has 10 goals and 12 assists to go with a plus-3 rating.
Phaneuf's name has been floated throughout the league in trade rumors recently, but it was Burke who landed the defenseman. The Leafs, who sit last in the Northeast Division and tied for last in the Eastern Conference, can clearly use all the help they can get.
The Los Angeles Times reported that Jean-Sebastien Giguere has been traded to the Leafs as well. Burke said that he hopes to have announcement of another deal shortly, though he would not say with which team.
A Giguere trade would make sense for Anaheim, though, as the Ducks signed goaltender Jonas Hiller to a four-year extension on Saturday.