This is good news for the Flyers, especially in their quest to sign Ilya Bryzgalov. As it stands, the Flyers have only $430k in cap space with 18 players signed. With the increase, the Flyers will now have over $5 million in space. In an attempt to sign Bryzgalov, the Flyers will be giving most of that cap increase to the unrestricted free agent.
With the larger increase, the Flyers will be able to keep more of their high priced players that were rumored to be on the way out, such as Jeff Carter, Ville Leino, Kris Versteeg, and Matt Carle. The team will likely still have to move someone – and still be unlikely to sign Leino – but the $4.6 million cap increase makes the squeeze less painful.