The Winnipeg Jets and Pittsburgh Penguins swapped top prospects in a significant trade, with the Jets sending forward Rutger McGroarty to Pittsburgh for forward Brayden Yager, a source confirmed to ESPN on Thursday.

McGroarty, 20, was selected 14th overall by Winnipeg in the 2022 NHL draft; Yager was picked in the same slot -- No. 14 -- by Pittsburgh in 2023.

The Jets had failed to sign McGroarty to an entry-level contract after he expressed concern about what a future in Winnipeg might look like for him, and general manager Kevin Cheveldayoff had been looking for a trade partner since.

McGroarty, a Nebraska native, had already declared in April his intent to return to the University of Michigan for the upcoming 2024-25 season. He had 16 goals and 52 points in 36 games for the Wolverines last season. The trade to Pittsburgh could change McGroarty's timeline, however, as he's already inked an entry-level deal with the Penguins, the source said.

In return for McGroarty, Winnipeg has acquired a promising asset from Pittsburgh.

Yager, 19, a two-way center with good finish who can play in all situations, just inked his own entry-level contract with the Penguins in July. That came on the heels of him helping the Moose Jaw Warriors win the WHL championship last season on the strength of a 95-point regular season and a dominant 27-point showing in the playoffs.

It's likely McGroarty is closer to appearing in the NHL than Yager, and that's good news for the Penguins, who failed to reach the postseason in consecutive years and could use an influx of young talent.

The 6-foot-1, 200-pound McGroarty plays a heavy game with a solid mix of skill and speed. At Michigan, he was a Hobey Baker nominee and earned slots on the All-Big Ten first team and the All-Big Ten tournament team.

Sportsnet was first to report the deal.