Flyers Buy Out Contract of Goalie Ilya Bryzgalov
Bryzgalov signed a $51 million contract with the Flyers in 2011, but Tuesday the Flyers announced they will buy out the remainder of the 33-year-old's contract.
The buyout will cost the Flyers two-thirds ($23 million) of what is still owed to Bryzgalov. By buying out the goalie's contract, the team saves $5.667 million on the cap for each of the next seven seasons.
"Obviously it’s a costly mistake that we made," Flyers general manager Paul Holmgren said. "You know Ilya, it’s hard to fault him. I still believe he played pretty good, but in a salary cap world you need to make decisions from time to time that put you in a better light moving forward and this is one of those."
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