NEW YORK (Reuters) - The Colorado Avalanche signed former-NHL MVP forward Peter Forsberg for the remainder of the season boosting their hopes of a Stanley Cup playoff place.

Terms were not released but Tuesday’s Denver Post said he had signed a one-year $5 million pro-rated contract, giving the Swede about $1.1 million for the rest of the 2007-08 campaign.

The 34-year-old has played for four NHL teams, including the Avalanche where he won two Stanley Cup championships.

An 11-year NHL veteran and 2003 MVP, Forsberg had not played this season and was pondering retirement while he recovered from foot and ankle injuries.

The Avalanche are 31-26-6 and within four points of the eighth and final playoff spot in the Western Conference.

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