It looks as if pending unrestricted free agent defenseman Mark Streit will be a Philadelphia Flyer in the near future.
The Flyers acquired the rights to Streit last week from the New York Islanders in exchange for a minor league prospect and a fourth-round pick in next year’s NHL Entry Draft. Multiple sources are claiming that the deal is for $21 million over the course of four years, with a cap hit of $5.25 million per season.
However, while the framework of the deal has been agreed upon, Streit won’t be able to officially sign the contract for another week or so. The Flyers lack the cap space to sign him and will need to exercise their compliance buyouts prior to making the signing official in order to be cap compliant per terms of the CBA.
Speculation persists on who the Flyers could possibly look to buy out this summer, and the likely candidate include goaltender Ilya Bryzgalov and forward Danny Briere. Bryzgalov, who is signed with the Flyers through 2020, has a cap hit of $5.66 million a season. Briere is scheduled to become an unrestricted free agent after the 2014-15 season, but carries a cap hit of $6.5 million until then.
Teams can begin using their buyouts 48 hours after the end of the Stanley Cup Finals, meaning the earliest the Flyers could make a move at this point is June 25. If the series between Boston and Chicago goes the distance, the buyout period would begin June 28.
Streit was originally drafted by the Montreal Canadiens in 2004 at the age of 26. He played three seasons with the Canadiens before signing as a free agent with the Islanders in 2008, and was named captain of the team in 2011. He finished this past season with six goals and 21 assists in 48 games and tallied another five points in six postseason games.
