Jun 17, 2013, 5:01 PM EST
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.
Feb 28, 2015, 12:27 PM EST
Both are unrestricted free agents after this season.
Feb 28, 2015, 12:00 PM EST
He’s an unrestricted free agent after this season.
Feb 28, 2015, 11:15 AM EST
Was acquired Thursday from Toronto.
Feb 28, 2015, 10:30 AM EST
Ottawa’s GM confirms he had talks with Toronto.
Feb 28, 2015, 9:45 AM EST
New York has won four straight overall coming in.
Feb 28, 2015, 1:02 AM EST
L.A. played the night before.
Feb 28, 2015, 12:07 AM EST
Lost to Carolina on Friday.
Feb 27, 2015, 11:17 PM EST
He was traded from Philadelphia to Chicago on Friday.
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Meanwhile, Calgary’s playoff hopes take another hit.
Feb 27, 2015, 9:56 PM EST
Important win for Boston.
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Should be interesting.
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Another day, another trade.
Feb 27, 2015, 8:25 PM EST
Pascal Dupuis recently opened up about his condition.
Feb 27, 2015, 7:30 PM EST
The Habs host the Maple Leafs on Saturday.
Feb 27, 2015, 6:37 PM EST
That’s according to multiple reports.
Feb 27, 2015, 6:28 PM EST
Trade deadline is Monday, by the way.
Feb 27, 2015, 5:25 PM EST
Was aiming to play Saturday versus the Rangers.
Feb 27, 2015, 4:34 PM EST
GM Doug Wilson has some decisions to make…
Feb 27, 2015, 3:17 PM EST
So says NHL deputy commissioner Bill Daly.
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