Flyers Sign Shea Weber to 14 year $100+M Offer Sheet

NASHVILLE, TN - OCTOBER 09: Shea Weber #6, Ryan Suter #20, and Cal O'Reilly #16, congratulate Steve Sullivan, center, on scoring a goal against the Anaheim Ducks on October 9, 2010 in Nashville, Tennessee. (Photo by Frederick Breedon/Getty Images)

If you haven't been to the NHL section on TSN yet today you're in for quite a surprise. Per TSN:

The Philadelphia Flyers have signed defenceman Shea Weber to a 14-year offer sheet worth upwards of $100 million.

The full article can be found here.

First off kudos should go to Darren Dreger who broke this story via twitter at or around 1:00 AM this morning. According to one tweet sent out by Dreger:

Nashville was working on a trade and its believed several deadlines passed before Flyers grew tired of waiting. Weber signed offer sheet.

For a complete play by play, check out Dreger's twitter feed here.

For a good primer of what the compensation will be, check out this article on from fellow SBN member Pension Plan Puppets here. My thoughts are that even though the average annual value compensation for the entire deal is in the two firsts, one second, and one third range, because the deal is greater than five years the AAV for draft pick compensation is based off the total contract amount divided by 5 years, which puts this squarely in the four first round pick category. We'll update you when an official clarification comes out.

Quick note on the process: Now that Shea Weber has signed the offer sheet Nashville has one week to match the offer and retain the player or to not match and allow the player to move for draft pick compensation. Nashville cannot trade the rights to Weber during this one week period. Additionally, if Nashville does match the offer they cannot trade Weber for at least one calendar year from the day they matched the offer. This means that Nashville cannot match the offer from Philly and then turn around and trade him to the Flyers in a week.

What does this mean for the Canes? It means the Flyers will have serious troubles trying to sign Voracek.

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