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08-21-2013, 08:59 AM
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A Fistful of Dollars
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Per Bill Meltzer...

* According to Flyers general manager Paul Holmgren, the Flyers have signed forward Eric Wellwood to a minor league contract while he recovers from the serious leg tendon injuries he suffered late last season with the Phantoms. Holmgren said the minor-league deal arrangement is just "for the time being."

When Wellwood is fully recovered, he is eligible to sign a new NHL contract with the Flyers, who continue to hold his NHL signing rights after tendering him a qualifying offer as a restricted free agent this summer.

The arrangement is beneficial for both sides.

Because of Wellwood's injury status, the Flyers could not assign him to the AHL if he were signed to a new NHL contract before he's ready to be medically cleared. This would have been problematic for the Flyers, who are currently over the salary cap during the summer. Wellwood would have had to be carried on the NHL roster and his contract would have counted all season against the 50-contract limit even if he was placed on the long-term injured reserve list when eligible right before opening night (which also would have given the team some temporary cap space).

In Wellwood's case, he at least has the security of a contract in hand with the organization while working toward his return to the ice. He would have been on a two-way NHL contract, anyway, and almost certainly would have been assigned to play for the Phantoms once he's medically allowed to play. Once he's healthy and ready to play, he can get a new NHL deal with the Flyers.

* Holmgren also provided an update on the status of unsigned restricted free agent Brandon Manning. Said Holmgren, "We are still working on Brandon but certainly expect to have him signed soon."

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