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."
Copyright 2013 ABC News Radio
See other NationalSports news:Giants Agree to Deal with Outfielder Michael Morse
Rangers Draft NFL’s Wilson in MLB Rule 5 Draft
US Extends Jurgen Klinsmann's Contract Through 2018
ESPN: Joba Chamberlain Agrees to Join Tigers
U.S. Extends Jurgen Klinsmann's Contract Through 2018