Flyers and Mark Streit Agree to New Contract.

Various sources this evening report the Philadelphia Flyers have agreed to a four-year, $21 million contract with defenseman Mark Streit, whose rights they acquired last week from the New York Islanders. The deal also comes with a limited no-trade clause in which he submits a list of teams he would accept being dealt to.

Mark Streit agrees to a new contract with the Flyers.

Mark Streit agrees to a new contract with the Flyers.

 SPECTOR’S NOTE: No surprise the Flyers re-signed Streit, as that was the intent after acquiring his rights. His new contract will pay him an average annual cap hit of $5.25 million. As TSN’s Darren Dreger reported, while the two sides have agreed to this deal, they cannot officially sign the deal until they Flyers have freed up sufficient cap space, or else they’ll violate the “tagging” rule, which means teams cannot officially add salary in one season which exceeds the cap ceiling for the following season.  Don’t be surprised, therefore, to hear Daniel Briere and/or Ilya Bryzgalov receive compliance buyouts with 48 hours of the end of the Stanley Cup Final.

As for the contract itself, it’s a stiff price to pay for a 35-year-old blueliner whose best seasons are behind him. Furthermore, because he’s over-35, his full salary counts against their cap if he is bought out, demoted, loaned overseas or retires before his contract expires.  While I understand the Flyers need to bolster their blueline depth, and I mean Streit no disrespect, I don’t believe they’ll get full value from this contract.

 

4 Comments

  1. Could they really do better this year though? Just looking at the potential UFA defense on CapGeek.com, there are very few comparable, let alone better, players. Marek Zidlicky, Ryan Whitney, Toni Lydman, Michal Rozsival… None of them are worth $5.25 Million a year, but are any of them a better option than Streit? It was painfully obvious that their depth wasn’t going to cut it after the second injury.

    Sadly the second injury on defense was not their last; the Flyers defense were basically hurt all season. By the end of it they had one NHL regular in the lineup. Other than Pronger, one can imagine most of the regulars still under contract will be back and healthy.

  2. while i can understand the Flyers wanting to add another skilled dman, the cost for this aging pointman is staggering. Philadelphia will have to use both of it’s compliance buyouts just to get under the Cap and that only adds one aging dman while sacrificing probably a goalie and a centerman. next year the Flyers have to start signing their young core players to more expensive contracts, Giroux, Schenn, and Couturier and there’s a very real prospect of those 3 players eating up all of the Cap room currently available for next year. now if Holmgren does use one of his buyouts on Bryzgalov it will free up another $5.6 million but that leaves their goaltending in the hands of Mason who wilted under the same pressure in Columbus nevermind a hockey mad city like Philadelphia. there will be some wiggle room given Pronger’s health but that only highlights the dangers of signing a 35+ player like Streit.

  3. Both of the comments above have good points. Streit probably would have gotten more on the open market, who knows, but given the Flyers glaring needs, Streit was the best option that was openly available. I think the Gonchar deal in Dallas forced Philly to pull the trigger on the trade that brought his rights to Philly. He brings mobility, a good breakout pass, can quarterback a power play and leadership. He may be 35 but the Flyers had to do what they had to do. Kimmo is 38 and is still an effective player and he’s making more. I think that given the circumstances and what was available, the Flyers made a good move….maybe a year or two more than any fan would have hoped but generally a good move.

  4. As Puckhead said all of the comments above are good. We must also keep in mind that Kimmo has only a one year deal in place. How much is he making that is going against the cap and if hes done wont free up money for the above mentioned players next year? Just my Two cents!