Jun 17, 2013, 5:01 PM EDT
The Philadelphia Flyers have agreed on a four-year contract extension with defenseman and ex-Islanders captain Mark Streit.
According to TSN’s Darren Dreger, the deal is worth $21 million with an average annual cap hit of $5.25 million.
The news comes just five days after the Flyers acquired Streit’s rights from the New York Islanders in exchange for prospect Shane Harper and a fourth-round pick at the 2014 NHL Entry Draft.
This deal was likely agreed to in principle, as Streit can’t officially sign until Philadelphia sorts out its salary cap situation. CSN Philadelphia’s Tim Panaccio reports a Flyers source says the deal is “not done yet.”
(For more, click here.)
Streit, 35, was a key member of the Isles this year. He led all New York defensemen in scoring (27 points) and finished second on the team in power play points, with eight.
In the playoffs, he tied John Tavares for the team playoff scoring lead (five points) and averaged over 20 minutes a night.
Following the Islanders’ first-round exit against Pittsburgh, Streit told Newsday he wanted to return to New York as his five-year, $20.5 million deal was set to expire on July 5.
“I’ve said it all along, I want to be back,” he explained. “I love it here, I love Long Island and the organization has been great to me.”
But it appears for all that love talk, money got in the way.
Here’s more, from Newsday:
The Islanders are believed to have made a three-year offer for the same $4.75 million per season that Lubomir Visnovsky accepted on the eve of the trade deadline (Visnovsky’s deal is for two years), but Streit is looking for north of $5.5 million per season.
With the free agent market for defensemen very thin, Streit could command $6 million per year and even possibly get a four-year deal. The Islanders wanted Streit back to keep the continuity Garth Snow has built, but the Isles GM is also not interested in busting his salary structure to keep Streit.
Of note, Streit turns 36 in December and would classify as a 35+ contract, meaning his salary and cap hit are guaranteed for the life of the deal.
- Chiarelli: At some point, I’m going to have to trade a defenseman 9
- Devils post-Martin Brodeur era about to truly start 1
- Report: Rangers expected to announce captain on Thursday 10
- Snider: Flyers not hiding behind ‘horrible mistake’ of signing Bryzgalov 18
- P.K. Subban: ‘I’m not trying to change the game of hockey’ 21
- Demand for Canucks tickets plummeting according to broker 36
- Report: Johansen, Blue Jackets talking contract 7
- NHL waiting on World Cup announcement, Olympics decision 9
- Leiweke calls out ‘just terrible’ character of certain players in Leafs organization 30
- Crosby: Pens must ‘find a way to get over that hump’ 13
- Will future tweaks be enough to salvage NHL 15? (50)
- This Darcy Kuemper-Minnesota Wild situation doesn’t sound good (40)
- Boychuk doesn’t want to be traded, but has no control over the matter (39)
- Demand for Canucks tickets plummeting according to broker (39)
- The KHL’s really trying to mow Minnesota’s lawn (38)