The draft pick starts off as a fourth-round selection but can turn into a third-round pick if Lombardi signs with the Coyotes after this season.
Dreger also reports that the Maple Leafs retain the $500,000 signing bonus that is owed to Lombardi as well as a portion of his remaining salary. Lombardi has one-year remaining on his contract and carries a cap hit of $3.5 million in 2013. He signed a three-year contract with Nashville two years ago, but was traded to the Maple Leafs along with Cody Franson for Brett Lebda.
This will be Lombardi's second stint with the Coyotes as he spent parts of two seasons with the club in 2009 and 2010. That includes his most productive season in the NHL during the 2009-10 season when he scored 19 goals to go with 34 assists.
Lombardi's exit from Toronto could open up a roster spot for former first-round draft pick Nazem Kadri. Kadri has seen limited ice-time in the NHL since being selected No. 7 overall in 2009, scoring eight goals in 51 games, but he's been a point-per-game player in the American Hockey League over the past two seasons.
He had a hat trick in the Leafs intrasquad scrimmage on Wednesday morning.