UPDATE: The Timbers have made the trade official and confirmed that it is Bright Dike, the Timbers' last first round pick in the 2015 Superdraft, and allocation money for Maxi Urruti and an international slot through the end of 2013.

According to a number of Toronto based journalists and confirmed by the Oregonian's Geoffrey C. Arnold, the Portland Timbers have traded forward Bright Dike to Toronto FC in exchange for Argentine striker Maximiliano Urruti. Urruti was signed just under a month ago and looks to be the first casualty of the annual TFC housecleaning after Kevin Payne's dismissal as general manager.

Urruti, a 22 year old, was speculated to be a designated player during TFC's long persuit of his signature, but was confirmed not to be taking up a DP slot for the Reds, although his signing came too late for his salary to be released by the MLS Players Union. The Timbers, however, have been stockpiling allocation money for the last year and have the ability to pay down his salary if necessary, which just might be the case given the rumors that his contract will necessitate a DP slot next year.

Having scored 14 goals in 56 appearances for Newell's Old Boys, his club in Argentina, Urruti has only made two appearances for Toronto since his arrival in North America.

Making way for Urruti will be fan favorite Bright Dike, one of only three Timbers remaining from the team's USL era. Despite coming on strong at the end of last season with five goals in the final eleven games of the season, Dike was sidelined in the preseason with a torn ACL and has just recently returned to full health. Dike will be the third former Timbers on the TFC roster, including Joe Bendik and Jeremy Hall.

This move makes the Timbers even more young up top while bringing in another player who could do some damage in a run to the playoffs. Urruti's aquisition will give the Timbers a natural goal scorer who is inclined to stay at the top of the formation. Like the Timbers' other Argentine acquisition, Diego Valeri, Urruti looks to be very skilled on the ball as well, bringing a level of technical ability to the top of the Timbers' formation that few can match.

Bright Dike's bull-in-a-china-shop routine, which he showed off in 46 games for the Timbers in both the USL and MLS, will be missed by the fans here, but with Ryan Johnson, Frederic Piquionne, and Jose Adolfo Valencia all holding similar skill sets, Dike was the odd man out.

Here is his goodbye to the city:

Thanks to all the tremendous people that watched me grow as a person and a player in Portland. I will miss the city. Thanks 4 everything — Bright Dike (@bbright19) September 9, 2013

Check out some of Max Urruti's highlights here:

The Timbers' press release: