The Flyers have agreed to terms with veteran defenseman Mark Streit on a four-year, $21.5 million deal, a source confirmed to ESPNNewYork.com.
The news was earlier reported by TSN.
With Philadelphia's salary cap situation, Streit's deal will not become official until the Flyers exercise their two compliance buyouts this summer on Ilya Bryzgalov and Danny Briere, the source said.
The New York Islanders traded Streit to Philadelphia last week, giving the Flyers exclusive negotiating rights with the veteran defenseman before he became an unrestricted free agent in July.
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.
In exchange for Streit, the Flyers sent back a fourth-round draft pick in 2014 and 24-year-old minor-league winger Shane Harper.
Streit's departure from the Islanders also makes it appear imminent that 22-year-old superstar center John Tavares will be named New York's captain before the 2013-14 season.
-LeBrun says that Kris Letang's agent will speak with Pittsburgh Penguins GM Ray Shero, and the team will have to make a decision as to whether to re-sign Letang for $7+ million, or to trade him, as he has a year left on his deal
-McKenzie states that teams are more than kicking the tires on Los Angeles Kings goalie Jonathan Bernier, with the Flyers, Islanders and Maple Leafs intrigued by him. It may take Matt Frattin from Toronto or Matt Read from Philly
-Dreger says that Bernier, Niklas Backstrom and Ray Emery are all being targeted by the Flyers, and as stated earlier this evening, whether the Flyers are actually buying out Bryzgalov is a murky and mysteriously rumorific situation, to say the least
-Dreger also says that Bryzgalov's not a teammate favorite, and given that Mark Streit will sign a 4-year, $21 million deal, the Flyers have to do SOMEthing;
-LeBrun says that the Flyers have also told Danny Briere that they're going to buy him out, and that obviously changes the UFA market significantly. Briere's settled in Philly and he's divorced, so Paul Holmgren's made a difficult decision there
-McKenzie says that the New York Rangers will attempt to extend Henrik Lundqvist sooner than later, with Rangers GM Glen Sather and Lundqvist's agent, Don Meehan, will meet at or around the draft, but Lundqvist may want a Malkin-like $9 million dollar amount, which would bust the Rangers' budget (Pekka Rinne earns $7 million), so the Rangers may try to talk him down
-McKenzie says that Brad Richards will wait a year to decide whether to buy him out, with the team hoping that Alain Vigneault can salvage Richards' scoring issues
-Dreger says that Pavel Datsyuk re-signing with Detroit indicates that Valtteri Filppula will not re-sign with the Red Wings, and Dreger believes that the 29-year-old Filppula wants as much as $5.5 million for as long as an EIGHT-year contract, or a least a seven-year deal
-And LeBrun says that the Wings may target Stephen Weiss as a Filppula replacement;
Detroit — Calling it a “starting point,” plans for a $650 million Red Wings hockey arena and entertainment district were unveiled Wednesday before the city’s development arm.
The plan involving Olympia Development, which officials say would be supported by 56 percent in private money and 44 percent in public funding, features an 18,000-seat arena along Woodard Avenue just north of the Fox Theatre between Interstate 75 and Temple Street as part of the 650,000 square-foot project.
"I'd like it completed by tomorrow," said George Jackson, president of the Detroit Economic Growth Corp., responding to media questions on the development's timetable.
Jackson said he hopes to wrap up negotiations by the end of the year so that construction can begin on the project, which he called an “incomplete portrait” at this point but will have an “urban look” with an “urban feel.”
"This is definitely a dynamic process," Jackson said Wednesday.
More details emerged following a special board meeting of the Downtown Development Authority Wednesday. The News already has reported that the DDA is considering making a annual grant of nearly $13 million for the project.
Under the concept proposed by Ilitch Holdings, the new hockey arena, or multipurpose events center, would anchor a 35-acre downtown district featuring sports, entertainment, stores and housing near the Ilitch family’s company headquarters in the restored Fox Theatre on Woodward Avenue and nearby Comerica Park, the home built for Mike Ilitch’s Detroit Tigers.
On Wednesday, the DEGC announced it approved a memorandum of understanding with Olympia Development of Michigan and Wayne County that “describes the proposed public and private financing and location for a new sports and entertainment district Downtown.”
According to the DEGC, the district includes a $450 million sports and entertainment center and $200 million in new residential, retail and office development in an approximately 45-block area that generally reaches from Grand Circus Park to Charlotte Street between Woodward and Grand River avenues.
The DEGC also announced “the new development is anticipated to create approximately 5,500 jobs for the events center alone and approximately 8,300 jobs for the entire residential and commercial mixed-use district. Michigan can anticipate an estimated economic impact of $1.8 billion from the completion of this project.”
Comments
Going back to Boston with the series tied is fucking huge.
The news was earlier reported by TSN.
With Philadelphia's salary cap situation, Streit's deal will not become official until the Flyers exercise their two compliance buyouts this summer on Ilya Bryzgalov and Danny Briere, the source said.
The New York Islanders traded Streit to Philadelphia last week, giving the Flyers exclusive negotiating rights with the veteran defenseman before he became an unrestricted free agent in July.
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.
In exchange for Streit, the Flyers sent back a fourth-round draft pick in 2014 and 24-year-old minor-league winger Shane Harper.
Streit's departure from the Islanders also makes it appear imminent that 22-year-old superstar center John Tavares will be named New York's captain before the 2013-14 season.
-McKenzie states that teams are more than kicking the tires on Los Angeles Kings goalie Jonathan Bernier, with the Flyers, Islanders and Maple Leafs intrigued by him. It may take Matt Frattin from Toronto or Matt Read from Philly
-Dreger says that Bernier, Niklas Backstrom and Ray Emery are all being targeted by the Flyers, and as stated earlier this evening, whether the Flyers are actually buying out Bryzgalov is a murky and mysteriously rumorific situation, to say the least
-Dreger also says that Bryzgalov's not a teammate favorite, and given that Mark Streit will sign a 4-year, $21 million deal, the Flyers have to do SOMEthing;
-LeBrun says that the Flyers have also told Danny Briere that they're going to buy him out, and that obviously changes the UFA market significantly. Briere's settled in Philly and he's divorced, so Paul Holmgren's made a difficult decision there
-McKenzie says that the New York Rangers will attempt to extend Henrik Lundqvist sooner than later, with Rangers GM Glen Sather and Lundqvist's agent, Don Meehan, will meet at or around the draft, but Lundqvist may want a Malkin-like $9 million dollar amount, which would bust the Rangers' budget (Pekka Rinne earns $7 million), so the Rangers may try to talk him down
-McKenzie says that Brad Richards will wait a year to decide whether to buy him out, with the team hoping that Alain Vigneault can salvage Richards' scoring issues
-Dreger says that Pavel Datsyuk re-signing with Detroit indicates that Valtteri Filppula will not re-sign with the Red Wings, and Dreger believes that the 29-year-old Filppula wants as much as $5.5 million for as long as an EIGHT-year contract, or a least a seven-year deal
-And LeBrun says that the Wings may target Stephen Weiss as a Filppula replacement;
The plan involving Olympia Development, which officials say would be supported by 56 percent in private money and 44 percent in public funding, features an 18,000-seat arena along Woodard Avenue just north of the Fox Theatre between Interstate 75 and Temple Street as part of the 650,000 square-foot project.
"I'd like it completed by tomorrow," said George Jackson, president of the Detroit Economic Growth Corp., responding to media questions on the development's timetable.
Jackson said he hopes to wrap up negotiations by the end of the year so that construction can begin on the project, which he called an “incomplete portrait” at this point but will have an “urban look” with an “urban feel.”
"This is definitely a dynamic process," Jackson said Wednesday.
More details emerged following a special board meeting of the Downtown Development Authority Wednesday. The News already has reported that the DDA is considering making a annual grant of nearly $13 million for the project.
Under the concept proposed by Ilitch Holdings, the new hockey arena, or multipurpose events center, would anchor a 35-acre downtown district featuring sports, entertainment, stores and housing near the Ilitch family’s company headquarters in the restored Fox Theatre on Woodward Avenue and nearby Comerica Park, the home built for Mike Ilitch’s Detroit Tigers.
On Wednesday, the DEGC announced it approved a memorandum of understanding with Olympia Development of Michigan and Wayne County that “describes the proposed public and private financing and location for a new sports and entertainment district Downtown.”
According to the DEGC, the district includes a $450 million sports and entertainment center and $200 million in new residential, retail and office development in an approximately 45-block area that generally reaches from Grand Circus Park to Charlotte Street between Woodward and Grand River avenues.
The DEGC also announced “the new development is anticipated to create approximately 5,500 jobs for the events center alone and approximately 8,300 jobs for the entire residential and commercial mixed-use district. Michigan can anticipate an estimated economic impact of $1.8 billion from the completion of this project.”
From The Detroit News: http://www.detroitnews.com/article/20130619/BIZ/306190075#ixzz2Wgvm9ObK