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.
Apr 18, 2015, 1:36 AM EDT
Another rough go for Crow.
Apr 18, 2015, 1:15 AM EDT
Crazy finish at Rogers Arena.
Apr 18, 2015, 12:59 AM EDT
Series now even at one.
Apr 18, 2015, 12:31 AM EDT
Talk about taking the game out of the officials’ hands.
Apr 17, 2015, 11:34 PM EDT
In Las Vegas.
Apr 17, 2015, 11:21 PM EDT
All the breaks seem to be going Chicago’s way.
Apr 17, 2015, 11:19 PM EDT
Second key player Nashville’s lost in as many games.
Apr 17, 2015, 10:52 PM EDT
Not a great start to the playoffs for Corey Crawford.
Apr 17, 2015, 10:46 PM EDT
Johnny Boychuk admits Isles let one slip away.
Apr 17, 2015, 10:12 PM EDT
Ottawa will need magic at home.
Apr 17, 2015, 9:53 PM EDT
Quite a comeback win for Washington.
Apr 17, 2015, 9:25 PM EDT
He blew the Islanders’ minds on this one.
Apr 17, 2015, 8:37 PM EDT
Updated with P.K. Subban’s booming goal.
Apr 17, 2015, 8:02 PM EDT
Awesome countered by awesomeness.
Apr 17, 2015, 7:02 PM EDT
He seemed tentative in warm-ups …
Apr 17, 2015, 6:39 PM EDT
Apr 17, 2015, 6:28 PM EDT
No pressure, kid.
Apr 17, 2015, 5:55 PM EDT
Game 2’s galore.
Apr 17, 2015, 5:07 PM EDT
“It seems when we lose a game everyone’s really focused to get back on the winning track.”
Apr 17, 2015, 4:05 PM EDT
Mike Fisher looks like he’s unable to go.
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