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Holmgren: Flyers "Capped Out Right Now"

July 5 did not carry the same pomp and circumstance that the days leading up to the day did for the Philadelphia Flyers.

Early in the day on Friday, goaltender Ray Emery agreed to a one-year deal, and depth goaltender Yann Danis also agreed to a one-year pact.

Those moves along with the acquisitions of defenseman Mark Streit and former Lightning captain Vincent Lecavalier make the team look a lot better off than last season's unfortunate debacle.

Expected comments released by General Manager Paul Holmgren revealed that the team is capped out. No flexibility exists to make additional moves, including one that could have kept popular winger Simon Gagne in the fold.

Flyers Sign G Yann Danis

The Flyers have announced that 32-year-old goaltender Yann Danis has agreed to a one-year, two-way contract with the club. Financial details were not disclosed at the time of signing.

Danis will likely start the season with the Adirondack Phantoms of the AHL since according to Flyers' insider Anthony SanFilippo, prospect Anthony Stolarz will return to juniors. Additionally, Danis only played four games in the NHL over the last two seasons.

Flyers Extend Claude Giroux For 8 Years

The Flyers have officially extended the contract of their captain, Claude Giroux.

Reported by ESPN's Pierre LeBrun, Giroux has been extended to an 8-year, $66.2 million deal. The deal carries an AAV of $8.275 million until 2022-23 (starts during the 2014-15 season).

“I’m very excited," Giroux said in a conference call. "I’ve been able to play with the organization for five years… it’s been unbelievable, the fans are always expecting great things. So just to be a part of that, it’s a really great feeling.”

Giroux also added that there is some pressure with an 8-year deal, the largest for a Flyers captain. But he is excited for the new challenge of being the face of the organization.

(Photo by John Russo/The Checking Line)

Flyers Re-Sign Adam Hall

It appears depth is now the name of the game for Paul Holmgren's team construction.

The Flyers have re-signed forward Adam Hall to a one-year extension worth $600,000.

Hall came to the Flyers as a result of a waiver wire pickup on April 3 from the Tampa Bay Lightning. He played for both the Carolina Hurricanes and the Lightning before becoming a Flyer. Hall played 11 games for the Flyers.

(Photo by Bruce Bennett/Getty Images)

Vincent Lecavalier Signs With Flyers

According to TSN's Darren Dreger, former Tampa Bay Lightning captain Vincent Lecavalier has agreed to a five-year, $22.5 million contract with the Philadelphia Flyers.

The 33 year old centerman will cost $4.5 million against the salary cap. He also owns a full no movement clause (NMC).

Lecavalier was most recently bought out by the Lightning due to his 11-year, $85 million extension signed back in 2008 being too much for the organization to handle. Ever since his buyout, he quickly interviewed with many teams, including the Montreal Canadiens, Dallas Stars, and the eventual winners, the Flyers.

Flyers Finish 2013 Draft Focused on Defense

General Manager Paul Holmgren has had to deliver some awful news to Flyers fans over the last several years.

Most recently, after buying out Danny Briere and Ilya Bryzgalov and talking draft strategy, he spoke candidly about making costly mistakes and being patient with organizational assets.

Looking at the Flyers' track record with effective draft picks sticking around in the organization could lead some to take a few tissues to dry their tears.

(1st round pick Sam Morin poses after being taken with the 11th pick. Photo by Bill Kostroun/AP)

Philadelphia Flyers Buy Out G Ilya Bryzgalov

The Philadelphia Flyers have bought-out goaltender Ilya Bryzgalov.

After a cat-and-mouse game with Bryzgalov's agent, it has been made official that the Flyers are cutting ties with their $51 million goaltender. The news was broken by Flyers beat writer Anthony SanFillippo.

Flyers Buy Out Danny Briere

Philadelphia Flyers' General Manager Paul Holmgren released a statement today confirming that they will use one of their two compliance buyouts on forward Danny Briere, ending his tenure with the team after six seasons.

The team will have to pay Briere $833,333 for the next four years as per the compliance buyout rules in the latest Collective Bargaining Agreement. His cap hit of $6.5 million will not count against the salary cap this season.

"This was a very difficult decision to make as Danny has been a very good player for us over the past six years," Holmgren said in his statement. Holmgren informed Briere a week ago that he would be bought out, the forward said in a press conference today.

(Photo by John Russo/The Checking Line)

On Ryan and Bernier: Is It Worth the Risk?

On Tuesday, the rumor mill concerning the Philadelphia Flyers blew up.

Not only was it confirmed by ESPN's Pierre LeBrun that forward Danny Briere would be bought out, but conflicting reports about goaltender Ilya Bryzgalov's security with the team surfaced, as well as trade rumors involving Anaheim's Bobby Ryan and Los Angeles' Jonathan Bernier also came to the forefront.

Talk about a crazy day.

All of this coming on the heels of a reported deal struck with the New York Islanders to acquire their former captain Mark Streit. Streit signed a bloated four year pact worth a grand total of $22 million. Following that deal, it signaled change. There is writing on the wall...but for whom?

If, for example, both Briere and Bryzgalov are bought out, that unlocks about $12 million in cap space. The Flyers are currently above the new cap ceiling of $64 million by $7 million. These moves would not afford a ton of room, but it would at least be something.

Flyers Acquire D Mark Streit From the Islanders

The Flyers have made their first move of the off season, acquiring a defenseman from a division rival.

They have traded forward Shane Harper along with a fourth round pick in the 2014 amateur draft to New York Islanders for 35-year-old defenseman Mark Streit. Streit was the captain of the Islanders team the last two years.

Streit is going to be a free agent come July 5 but they now own his rights until then and have the opportunity to re-sign him. General manager Paul Holmgren said that Streit was one of the blueliners on his radar at the July 5 free agency period.

(Photo by Mike Ashmore)