Tuesday, January 18, 2011

Sources: Holmgren to receive contract extension

According to the Delaware County Times, which quotes an unnamed source within the Flyers organization, Paul Holmgren will receive a contract extension.

The announcement will reportedly be made some time on Thursday, with Holmgren slated to be awarded with a three-year extension worth somewhere around $4.5 million, Anthony SanFilippo reports.

Neither Holmgren nor anyone in the organization would comment on the matter.

Holmgren has been the club's general manager since an organizational shake-up on October 22, 2006 -- a date known in some circles as Black Sunday -- in the midst of a franchise-worst 1-9-1 start.

Despite pulling the team out of an NHL-worst record in 2006-07, Holmgren has been dogged by constant salary cap concerns stemming from his efforts to bring the Flyers out of that season.

Nonetheless, he has been credited with such moves as signing Danny Briere to an eight-year contract from Buffalo, dealing Peter Forsberg for Kimmo Timonen, Ryan Parent, Scottie Upshall and Scott Hartnell, stealing Braydon Coburn from Atlanta and Ville Leino from Detroit, and trading for Chris Pronger and signing him to what is essentially a retirement contract.

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