Breaking down the Mark Streit deal.
I’m going to attempt to break down the three-way trade of Mark Streit which took place the day of the trade deadline.
The Philadelphia Flyers traded defenseman Mark Streit to the Tampa Bay Lightning in exchange for Valtteri Filppula, a fourth-round pick, and a conditional seventh round pick. Philadelphia retained 4.7% of Streit’s salary in the deal. Streit is currently in the last year of his 4 year, $22 million contract, and the aging defenseman is not a part of the Flyers defense “rebuild” as they continue to bring up their many promising defensive prospects. General manager Ron Hextall was looking to get something in return for him before losing him to free agency and receiving nothing after the season’s end. Tampa Bay was looking to move Filppula for one reason: the expansion draft. In 2013 the Lightning gave the Finnish centreman a 5 year, $25 million contract which has one more season remaining on it after the current one. Part of this contact was a full no-move clause, meaning in even of an expansion draft, the Lightning must protect Filppula. The Lightning were not interested in doing so, and so they wanted to trade him and his large contract away and free some cap space. The 32-year-old has 7 goals and 27 assists in 59 games played this season.
Immediately following this transaction, the Lightning flipped Streit to the Pittsburgh Penguins, in exchange for a fourth-round pick, retaining 50% of his salary. Obviously, this gave Tampa Bay their fourth-round selection back that they just gave to Philly. For the Penguins, this brings in a solid, seasoned, puck-moving blueliner who will help them out in the area they need most – injured defensemen. The Penguins are riddled with injury on defense, with Kris Letang, Olli Maatta, and Trevor Daley currently out of the lineup. Streit has been a serviceable defenseman for the Flyers this season even at age 39, with 5 goals and 19 assists in 49 games played, averaging over 19 minutes of ice time a night. It also doesn’t hurt that the Penguins only have to pay him 45.3% of his salary.
This is where it gets fancy. Remember the conditional seventh round pick the Flyers received for Streit from Tampa Bay? Well, apparently one of the conditions (or all the conditions?) were that if Tampa Bay trades Streit somewhere else, the Flyers receive that seventh-round pick. In other words, the Flyers got the pick, the Lightning don’t have to protect Filppula in the expansion draft, and the Penguins got another defenseman they hope can help them to become the first team to win back-to-back cups since Detroit in 1997 and 1998. All in all, it was a positive outcome for all three teams involved, and the Flyers and Penguins will be better for it.