(Photo credit: Ron Chenoy-Imagn Images)

The Colorado Rapids traded midfielder Cole Bassett to the Portland Timbers FC, getting $2.65 million in return.

If Bassett, 24, meets certain performance metrics, the Rapids could receive as much as $950,000 more. Colorado also would receive a percentage of a future trade or transfer.

'We are thrilled to welcome Cole Bassett to the Portland Timbers. Cole has been an impactful player in MLS for a number of years, and his ambitions align with ours as he takes this next step in his career,' Timbers general manager Ned Grabavoy said.

'He immediately makes our midfield more dynamic with his ability to join attacks and provide an end product. We look forward to his arrival, and he will be an important player for us moving forward.'

A native of Littleton, Colo., Bassett came through the Rapids' academy and is the club's all-time leader among homegrown players in MLS regular season appearances (155), starts (128), minutes (11,286), goals (31) and assists (22). He was the youngest player in club history to play a complete match (17 years, 77 days) and the youngest to contribute to a goal (17 years, 252 days).

Among all Rapids players, Bassett ranks tied for fifth in appearances, tied for sixth in goals and total goal contributions, and ninth in assists and minutes played in club history.

'Cole has been an important part of this club for a long time, not only for what he contributed on the field but for the way he represented the Rapids off it as well,' said Padraig Smith, the team president, in a statement on Monday.

'As a Homegrown player, he set a strong example within our locker room, in our community, and for the next generation coming through our Academy. We're grateful for everything he's given the club and wish him nothing but success in the next chapter of his career.'Bassett was named to the MLS 22 under 22 list three times from 2019-21.--Field Level Media