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06-12-2013, 12:25 PM
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Flyers sign Mark Streit to a multi-year deal [4 yrs, $21m; $5.25 AAV] (post #1)


The Philadelphia Flyers announced that they have signed 5-11, 191-lb defenseman Mark Streit to a multi-year contract, according to general manager Paul Holmgren.

Streit, 35 (12/11/77) recorded six goals and 21 assists for 27 points while appearing in all 48 games during the 2012-13 campaign for the New York Islanders, while also contributing three goals and two assists in six playoff games. He joined the Islanders as a free agent in 2008 and led the team in scoring his first season with 56 points (16G, 40A), while also representing the Islanders at the 2009 NHL All-Star Game. He was named the captain of the Islanders prior to the 2011-12 season.|PHI|home
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Streit signs four-year, $21M contract with Flyers

Defenseman Mark Streit has signed a four-year contract with the Philadelphia Flyers, the team announced Friday.

The deal is worth $21 million, an average annual value of $5.25 million.

Date: June 28, 2013

Homer confirms the Streit deal is now official: 4 years, $21M.
Source: Sam Carchidi @BroadStBull
Date: June 28, 2013

Streit numbers changed a tad to meet compliance.(1) $5 mil (2) $6.25mil (3) $5.75mil (4) $4 mil. Total remains $21 mil.
Source: Darren Dreger ‏@DarrenDreger
Date: June 28, 2013

It's NHL draft weekend, one in which there's annually player movement in addition to teams selecting young talent, and the Philadelphia Flyers were active Friday night finalizing a signing.

Defenseman Mark Streit, acquired in a June 12 trade from the New York Islanders, officially signed a four-year, $21 million contract.
His $5.25 million cap hit becomes the second highest on the Flyers behind defenseman Kimmo Timonen's $6 million.

A native of Switzerland, Streit would have become an unrestricted free agent on July 5 if he hadn't signed.

Source: Randy Miller
Date: June 28, 2013
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Flyers general manager Paul Holmgren made the following statement on defenseman Mark Streit.

"We continue to have talks with Mark's agent. Although there is nothing to report, we remain confident that we will get something done."
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The Philadelphia Flyers have agreed on a four-year contract extension with defenseman 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.”

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The Flyers began their offseason re-modeling of the roster by trading for a veteran defenseman Wednesday.

The Flyers shipped Shane Harper and a fourth round pick in the 2014 NHL Draft to the New York Islanders for Mark Streit.

Streit, 35, is a pending unrestricted free agent, but the Flyers now own his rights and will have an opportunity to sign him to a new deal before he hits the free agent market July 5 and could sign with any of the 29 other teams in the NHL. He made $4.1 million last season as a member of the Islanders.

“Mark is a player we would have had interest in on July 5th," said Flyers general manager Paul Holmgren. "We now have exclusive negotiating rights and we are hopeful that we can get an agreement in place prior to him becoming an unrestricted free agent.”

As New York’s captain for the past two seasons, he was considered a valuable piece to the Isles roster as part of their resurgence to becoming a playoff team last season
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Frank Seravalli @ Philadelphia Daily News

For the Flyers, the more interesting figure may the term on any deal they hammer out with Streit. He’s already 35, so a long-term deal could come back to haunt the Flyers if Streit is unable to fulfill it. Streit has an injury history, missing the entire 2010-11 season due to a torn rotator cuff which required surgery. He hasn’t missed a game since.

A big money extension with Streit would likely all but confirm that the Flyers are planning to part ways with Danny Briere (as expected) and possibly goaltender Ilya Bryzgalov with the use of compliance buyouts.

The salary cap is dropping from $70.2 million to $64.3 million for next season. According to, the Flyers are already over that $64.3 million figure if you include Chris Pronger’s $4.91 million, which will come off the cap on the second day of the season with long-term injury relief.

It may also mean that one or more of the Flyers' current defensemen do not fit in their future plans. If healthy, which all were expected to be come training camp, the team already has seven big league defensemen under contract: Kimmo Timonen, Braydon Coburn, Andrej Meszaros, Nick Grossmann, Luke Schenn, Erik Gustafsson and Bruno Gervais.

Adding Streit to the mix would make eight.

Andrew Kulp @ The 700 Level

Mark Streit Excited About Coming to Philly, ‘a great city’

We’ll reserve final judgment until he signs a contract, but the initial reaction here is trading for Mark Streit was a good move for the Flyers, at least in the short-term. The team gave up next to nothing to acquire Streit’s rights, and he immediately becomes the club’s best offensive defenseman the moment he steps through the front door.

Perhaps nobody was more excited by the move than Streit himself. The 35-year-old blueliner spoke to Comcast SportsNet after the news came down. Not only does the former New York Islanders sound confident his agent will be able to get a deal worked out with general manager Paul Holmgren before free agency begins on July 5, he sure makes it sound as if Philadelphia would have been one of his top destinations anyway had he hit the market.

Sam Carchidi @ Philadelphia Inquirer

Streit, known more for his offense, is expected to seek more than $5 million per season. The Flyers already have hefty cap hits on the blue line, includng Kimmo Timonen at $6 million, Braydon Coburn at $4.5 million, Andrej Meszaros at $4 million, Luke Schenn at $3.6 million and Nick Grossmann at $3.5 million.

If Streit is signed, look for one of the other veterans to be traded _ and for Erik Gustafsson to be in the top six.

As a 26-year-old, Streit was drafted by Montreal in the ninth round (262d overall) in 2004. He has been very durable during his career, and has averaged 23-plus minutes per game in his four seasons with the Islanders.

A native of Switzerland, Streit represented his country in the 2006 and 2010 Olympics.

Harper, 24, signed with the Flyers as a free agent in 2010. In 143 career games with the AHL Phantoms, he had 20 goals and 21 assists.

Arthur Staple @ Newsday

Source indicates Streit "likely" to sign with Flyers, but Philly needs to shed salary first. Have to wait til buyout window opens. #Isles

Katie Strang ESPN

The trade comes following multiple reports that Streit and the Islanders planned to part ways as free agency approached. Streit's agent, Pat Brisson, is scheduled to speak with Holmgren later Wednesday.

The 35-year-old Bern, Switzerland native, who had six goals and 27 points in 48 regular-season games for the Islanders, is coming off a five-year, $20.5 million contract and is looking for a raise.

The Islanders' last offer to Streit, a three-year deal worth $4.75 million per year, was made before the trade deadline in April, a source told It is believed that Streit it looking for a multiyear deal worth more than $5 million per year.

That should not be difficult for Streit to command on the open market, considering the premium on offensive-minded, puck-moving defensemen.

The fact that the Flyers moved a pick to obtain exclusive negotiating rights for Streit indicates Holmgren's desire to bolster the team's blue line.

The Flyers, however, also are expected to clear cap space, with a few conspicuous contracts still on the books, like those for Ilya Bryzgalov and Danny Briere. Both players could be in line for a compliance buyout.

Reasonable to believe that Streit wants at least a three-year deal, north of $5 million per year
Last contract offer made by Isles to Streit came before trade deadline. Three years, $4.75 million per.

Eliot Shorr-Parks,

He is considered to have a strong offensive game, however, netting six goals on 83 shots last season.

"Mark is a player we would have had interest in on July 5," said Flyers general manager Paul Holmgren in a statement. "We now have exclusive negotiating rights and we are hopeful that we can get an agreement in place prior to him becoming an unrestricted free agent.”

It is possible, however, that Streit could never suit up for the Flyers. Streit is set to become an unrestricted free agent on July 5th, meaning he could decide to sign with another team.

Now that they own his rights, however, the Flyers can negotiate with him until the free agency period begins. It's hard to imagine the team would have made the deal without getting strong indications that Streit was willing to sign in Philadelphia.

Streit should also bring some veteran leadership to the team, as he has been the captain of the Islanders the past two seasons.

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  • Height: 5' 11"
  • Weight: 191
  • Shoots: Left
  • Born: Dec 11, 1977 (Age 35)
  • Birthplace: Bern, Switzerland
  • Acquired: Signed by NYI as free agent 7/1/08
  • Drafted: MTL / 2004 NHL Entry Draft
  • Round: 9th (262nd overall)

Will wear #32 for the Flyers.

Last edited by MiamiScreamingEagles: 07-09-2013 at 09:11 AM.
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