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.
Aug 27, 2014, 10:49 PM EDT
Of course, neither will be wearing a Sabres’ uniform – not yet at least.
Aug 27, 2014, 9:40 PM EDT
They’ve also appointed Don Sweeney as the AHL team’s new general manager.
Aug 27, 2014, 8:28 PM EDT
It matters given that they will start next season with a largely unchanged roster.
Aug 27, 2014, 7:20 PM EDT
Ken Holland hasn’t been in contact with him lately, but that will change soon.
Aug 27, 2014, 6:10 PM EDT
He hasn’t played for them since 2007.
Aug 27, 2014, 4:55 PM EDT
It’s a two-way deal.
Aug 27, 2014, 3:47 PM EDT
Mr. Hockey still reigns supreme in Detroit.
Aug 27, 2014, 2:24 PM EDT
“I haven’t heard that.”
Aug 27, 2014, 1:28 PM EDT
“We haven’t defined a process and certainly no decisions have been made.”
Aug 27, 2014, 1:11 PM EDT
Needs to bounce back after last year’s disappointing campaign.
Aug 27, 2014, 12:31 PM EDT
Finished second in the NHL among forwards last year, with 87.
Aug 27, 2014, 11:39 AM EDT
Former Quebec league sniper is gunning for a gig in Detroit.
Aug 27, 2014, 10:57 AM EDT
Former Tampa Bay forward was bought out of his contract earlier this summer, following legal troubles.
Aug 27, 2014, 10:04 AM EDT
The Red Wings are rebuilding on the fly, but are they assembling a future Cup contender?
Aug 27, 2014, 9:00 AM EDT
He’ll enter the second season of his seven-year, $36.75 million contract.
Aug 27, 2014, 8:00 AM EDT
They have made it to the playoffs for 23 straight seasons.
Aug 26, 2014, 10:51 PM EDT
He’s the former face of the franchise.
Aug 26, 2014, 9:57 PM EDT
A recent report has added new fuel to the speculation on that subject.
Aug 26, 2014, 8:30 PM EDT
Dupuis and Hornqvist are two of the main options.
Aug 26, 2014, 7:23 PM EDT
Will they go another season without one?
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