Avs decline.

Avs decline because they can't re-sign Horvat and that's too much for him as a rental.

I know Vancouver fans (not to mention the media) desperately want the Avs to trade their few remaining premium assets for Horvat because he's a "fit" with the team and they "need" him for a run this year. Problem is, it's poor asset management to make such a trade and the Avs really can't afford to make a mistake in that area right now. The Avs need both Newhook and Olausson for future Cup runs; in the bigger picture, this year alone is not worth shrinking their window considerably for one run. If this core were about 5 years further along and on the verge of the window closing, I'd say the Avs should definitely go for a deal like this. But they aren't so it doesn't make sense; time to let it go and find another trade partner for Horvat.