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09-20-2013, 06:28 PM
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Join Date: Aug 2010
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Matt Read signs extension (4 years, $3.625M AAV)

From the Flyers website:

If there was any question at all as to whether the Flyers viewed Matt Read as part of their long-term core that was answered in resounding fashion late Friday.

The Flyers and Read agreed on a four-year contract extension that kicks in beginning next season.

The contract is for $14.5 million, or an average annual value of $3.625, which will serve as his cap hit beginning in the 2014-15 season.

“We’re excited and happy we finally got this done,” said general manager Paul Holmgren. “This has been going on for the better part of the summer. We’re happy and I’m sure Matt’s happy. He’s one of the young, core players on our team.”

Read, 27, is in the final year of his entry-level contract that is paying him $900,000. Because of his age though, he would have been eligible for free agency after the season.

It was a scenario the Flyers didn’t want to get caught in – bidding against other teams for Read’s services – because they were worried that they could have been outbid by teams who don’t operate as close to the cap as the Flyers do.

Last edited by CanadianFlyer88: 09-20-2013 at 06:46 PM.
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