The Colorado Rapids announced today a trade with Toronto FC in which Colorado receives allocation money in exchange for midfielder Jacob Peterson.

Per club and league policies, financial terms of the transaction were not disclosed.

Peterson, originally drafted by Colorado with the ninth pick in the second round of the 2006 MLS SuperDraft, recorded eight goals and five assists appearing in 92 games for the Rapids. The four-year veteran from Indiana University, played in 23 games last season scoring two goals and adding two assists before suffering a torn ACL in his right knee on Sept. 23 and missing the remainder of the season.