Since many of us are speculating and theorizing what happened, I could make up a theory too:
Gillis goes to Burke at the draft, "I'll give you Luongo for Kadri, Bozak and a pick".
Burke says, "Are you crazy? What about that contract? I mean, I got Phaneuf for a bag of pucks because of his hefty contract."
Gillis: "Suit yourself".
So nothing happens, then while the lockout endures, Gillis gets even more greedy and later raises his asking price to Gardiner, Frattin, 1st and more.
Burke: "F...off"
I'm not defending Burke because the truth is not revealed, but what we all know is that Gillis is trying to commit robbery with a goalie tied to a bad contract. No GM is dumb enough to pay a huge premium (and sacrificing their own team's future) while at the same time helping to relieve Gillis of his big mistake.