UPDATE: Rumored to have agreed to a four-year deal worth $21 million with the Philadelphia Flyers, defenseman Mark Streit appears poised to finish out his playing career in Pennsylvania. However, as outlined by Tim Panaccio, the Flyers can't discuss the agreement until there's the required 2013-14 cap space available. As it stands, Streit's deal would put the Flyers nearly $8 million over next season's $64.3-million cap -- more than the 10 percent overflow allowed during the summer. And while defenseman Chris Pronger ($4.94 million) is once again headed for LTIR, and Danny Briere ($6.5 million) is poised to be bought out, Panaccio insists we can't count on a buyout for goalie Ilya Bryzgalov quite yet.
"... The Flyers can't buy Bryzgalov out unless they have a concrete trade agreement for a goalie prior to issuing the buyout ... The club is prepared to trade another player if they can’t exercise a second buyout on Bryzgalov. 'It depends on circumstances,' a source said ..."
Assuming defenseman Mark Streit signs a deal with the Philadelphia Flyers -- and goodness knows, nothing is guaranteed -- the ramifications could be significant. First of all, as discussed by Frank Seravalli of the Philadelphia Daily News, the Flyers faithful would likely bid adieu to two prominent players.
"... 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 CapGeek.com, 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 ..."
Streit is rumored to want a multi-year deal worth an average annual salary of $5 million (minimum). Plus the addition of the 35-year-old would make for a very crowded blue line in Philly. Even without Marc-Andre Bourdon in the mix, Streit would bring the Flyers' total to eight big-league defensemen. The New York Islanders dealt the soon-to-be UFA's rights to the Flyers on Wednesday.