The Philadelphia Flyers signed newly acquired defenceman Mark Streit to a four-year, $21 million contract Friday, Hockey Central Insider Nick Kypreos confirmed.
Streit, who was set to become an unrestricted free agent on July 5, came over in a trade with the New York Islanders in mid-June.
The 35-year-old Englisberg, Switzerland native will have an annual salary cap hit of $5.25 million.
He will earn $5 million in 2013-14, $6 million in 2014-15 and 2015-16, and $4 million in the final year of the deal in 2016-17.
In order to sign Streit, the Flyers needed to clear some salary cap space and they did so by buying out the contracts of forward Danny Briere (annual cap hit of $6.5 million) and goalie Ilya Bryzgalov (annual cap hit of $5.66 million).
Last season Streit had 27 points in 48 regular season games and added five points in six playoff games.
