Reports all over the internet, including from some of the most reputable hockey reporters, Max Talbot has NOT been traded by the Pittsburgh Penguins. The rumor was that Pittsburgh had sent Talbot's rights to the Toronto Maple Leafs.
In reality, on Tuesday afternoon the Penguins allowed the Maple Leafs to talk contract with Talbot for 48 hours. If they would have been to sign Talbot, then Toronto would have shipped a 5th round pick to Pittsburgh and Talbot would have been a Maple Leaf.
That 48 hour negotiating period came and went without an agreement. According to reports (and who knows WHAT to believe now) Toronto offered $1.7 million per year for four years. What is certain is that Talbot rebuked Toronto's efforts, saying he wanted to go on the open market on July 1st and shop his services there. Talbot's agent has confirmed that the Penguins have not traded him, about as ironclad a source as one needs.
So Toronto will keep their pick, and Pittsburgh is highly likely to lose Talbot to free agency Friday for no return. But, at least for now, Talbot remains property of the Pittsburgh Penguins, if only for a few more days.