The Flyers have acquired veteran defenseman Mark Streit from the Islanders for minor-league RW Shane Harper and a fourth-round draft pick in 2014.
Streit, 35, can become an unrestricted free agent July 5.
GM Paul Holmgren hopes it doesn't get that far.
"Mark is a player we would have had interest in on July 5," Holmgren said. "We now have exclusive negotiating rights and are hopeful we can get an agreement in place prior to him becoming a UFA."
Streit said he was excited by the deal and "pretty confident" he would sign with the Flyers.
The 5-foot-11, 191-pound Streit had six goals, 21 assists and a minus-14 rating while serving as the Islanders' captain last season. He just completed a five-year deal that paid him $20.5 million _ $4.1 million per season.
Streit, known more for his offense, is expected to seek more than $5 million per season. The Flyers already have hefty cap hits on the blue line, including Kimmo Timonen at $6 million, Braydon Coburn at $4.5 million, Andrej Meszaros at $4 million, Luke Schenn at $3.6 million and Nick Grossmann at $3.5 million.
If Streit is signed, look for one of the other veterans to be traded _ and for Erik Gustafsson to be in the top six.
As a 26-year-old, Streit was drafted by Montreal in the ninth round (262d overall) in 2004. He has been very durable during his career, and has averaged 23-plus minutes per game in his four seasons with the Islanders.
A native of Switzerland, Streit represented his country in the 2006 and 2010 Olympics.
Harper, 24, signed with the Flyers as a free agent in 2010. In 143 career games with the AHL Phantoms, he had 20 goals and 21 assists.
Follow Sam Carchidi on Twitter @BroadStBull.