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.
Dec 11, 2013, 12:25 AM EST
His Bruins beat Calgary 2-1 on Tuesday.
Dec 10, 2013, 11:47 PM EST
Ben Scrivens must feel a little less special.
Dec 10, 2013, 11:14 PM EST
He said this is his worst stretch with the team.
Dec 10, 2013, 10:36 PM EST
Dec 10, 2013, 10:33 PM EST
Nashville ends a five-game skid.
Dec 10, 2013, 10:02 PM EST
Dec 10, 2013, 9:30 PM EST
Alex Ovechkin made the Lightning pay.
Dec 10, 2013, 8:24 PM EST
At least he made it longer than Braden Holtby.
Dec 10, 2013, 8:08 PM EST
Martin Jones and Ben Scrivens are holding down the fort.
Dec 10, 2013, 7:47 PM EST
Mike Green also gets a game misconduct.
Dec 10, 2013, 7:12 PM EST
GMs sing his praises, too.
Dec 10, 2013, 6:52 PM EST
It won’t happen in 2014-15, though.
Dec 10, 2013, 5:31 PM EST
It’s a hot-button issue in the wake of Saturday’s Boston-Pittsburgh game.
Dec 10, 2013, 5:13 PM EST
Phoenix has just two wins in its last eight.
Dec 10, 2013, 4:21 PM EST
Former first-round pick on his way to Norfolk.
Dec 10, 2013, 3:02 PM EST
We’re about to find out.
Dec 10, 2013, 2:42 PM EST
A loaded Detroit roster gets… more loaded.
Dec 10, 2013, 2:15 PM EST
‘Hawks no like.
Dec 10, 2013, 1:53 PM EST
For the second time this season.
Dec 10, 2013, 1:40 PM EST
Chicago’s goalie depth about to be tested.
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