Dayne Beams has joined the Brisbane Lions in a deal that sends picks 5, 25 and young midfielder Jack Crisp to the Magpies.
The Lions also acquired Collingwood's fourth-round draft pick (No.67) in the trade.
Collingwood handed over pick No.25 over to North Melbourne for Levi Greenwood, who had indicated he wanted to join the Magpies on a multi-year deal.
It is a big win for the Lions who acquire a 24-year-old midfielder with 110 games experience and a premiership under his belt.
Beams is one of the game's elite midfielders capable of kicking goals and turning matches.
He won Collingwood's 2012 best and fairest and finished third this season. In both those years he polled more than 15 Brownlow votes (19 in 2012 and 16 in 2014) with 2013 being a virtual write-off because of injury.
Collingwood will effectively get pick No.5, Greenwood and Crisp for Beams, which will allow the Magpies to bolster their midfield considerably.
Crisp has played just 18 games in three seasons but is a tall midfielder who wins his own ball. He is not the best kick but has endurance and is quick off the mark.
Lions CEO Greg Swann said the club was thrilled to land such a quality midfielder.
"It's a great result for the club. We're really happy for Dayne. It's a good day for us," Swann told NAB AFL Trade Radio.
"I think when you put him in on top of getting Allen (Christensen) earlier in the week, we've got two premiership players, one is 23 and one is 24, they've got their best footy ahead of them. It's hard to get that sort of quality into your football club.
“To get two players of that ilk in, especially with Dayne because he's a Queensland boy, so that's another benefit to us because he's coming home, he's a star of the competition.
“So it's great for us to get that quality back into our footy club.”
Swann said the significance of adding such talent was magnified after five young players - Elliot Yeo (West Coast), Sam Docherty (Carlton), Jared Polec (Port Adelaide), Billy Longer (St Kilda) and Patrick Karnezis (Collingwood) - walked out of the club at the end of 2013.
"This time last year we had five first-round picks going out the door and there was a bit of ‘poor old Brisbane’ about it all,” he said.
“So it's a credit to Leppa (coach Justin Leppitsch) and the staff this year in sticking to plan … there is a bit of light at the end of the tunnel.”
Greenwood had his best season at the Kangaroos in 2014, having made his debut in 2009 after being selection No.32 in the 2007 NAB AFL Draft. He finished third in the club best and fairest and was brilliant in the club's elimination final win over Essendon.
He leaves the club after 74 games and three finals.
The Beams deal also opened the door for a three-way trade involving Melbourne, Geelong and Collingwood to take place. The exchange resulted in Travis Varcoe heading to the Magpies, Mitch Clark to the Cats and Heritier Lumumba to the Demons.
