PHILADELPHIA (CBS) – The Flyers have signed defenseman Mark Streit to a four-year contract, worth over $20 million, according to reports.

According to a report from TSN’s Darren Dreger, the deal is worth $5.25 million per season. The Flyers traded a fourth round pick to the Islanders for the 35 year-old Streit last week. The trade allowed the Flyers to be the only team to negotiate with Streit before he became an unrestricted free agent.

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The move likely means the Flyers will use the amnesty clause on Danny Briere or Ilya Bryzgalov, or both. The amnesty clause allows teams to cut a player and his salary from the roster, without having that salary count toward the team’s salary cap. The Flyers would still be obligated to pay the salary of the player who is amnestied. If the player signs on with another team for a lesser salary, the Flyers would be responsible for the difference.

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KYW’s Matt Leon spoke to Sam Carchidi, Flyers beat writer for the Philadelphia Inquirer, about the Streit signing and the Flyers offseason:

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