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 1, 2015, 9:37 AM EST
A big hip check and three assists from the defenseman.
Feb 1, 2015, 1:41 AM EST
Got a little help, too. Quick whistle on Toews chances.
Feb 1, 2015, 12:55 AM EST
Stopped 31 of 32 shots for the win.
Feb 1, 2015, 12:07 AM EST
No call. Got a little testy out there after that hit.
Jan 31, 2015, 11:17 PM EST
Boston maintaining their hold on a Wild Card spot.
Jan 31, 2015, 10:23 PM EST
Maybe February will be better?
Jan 31, 2015, 9:44 PM EST
Battle of Alberta isn’t what it used to be.
Jan 31, 2015, 8:57 PM EST
Scary moment, but he has stayed in the game.
Jan 31, 2015, 8:27 PM EST
Goal No. 715 of his career.
Jan 31, 2015, 8:14 PM EST
Short-handed, too! *Thumbs up*
Jan 31, 2015, 7:43 PM EST
Starting Sunday, these teams will play each other three times in 16 days.
Jan 31, 2015, 7:16 PM EST
Obviously not smart.
Jan 31, 2015, 6:46 PM EST
Allowed five goals on 20 shots.
Jan 31, 2015, 6:19 PM EST
Two losses in a row for the Islanders.
Jan 31, 2015, 5:53 PM EST
Was put on waivers, cleared, and sent to the minors this week.
Jan 31, 2015, 5:22 PM EST
Took part in team skate on Saturday.
Jan 31, 2015, 4:47 PM EST
Detroit is forcing itself into the Stanley Cup conversation.
Jan 31, 2015, 4:08 PM EST
Montreal has put pressure on Tampa Bay in the battle for the Eastern Conference lead.
Jan 31, 2015, 2:48 PM EST
He has a degenerative back injury that might lead to career-ending surgery.
Jan 31, 2015, 1:56 PM EST
He gave up five goals against them on Jan. 10.
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