The Philadelphia Flyers and forward Matt Read have agreed to a four-year $14.5 million contract extension the team announced Friday.

"We're excited and happy we finally got it done" general manager Paul Holmgren said. "He's one of the young core players on our team."

Read 27 has 35 goals and 36 assists in 121 career games. He is currently in the final year of his entry-level contract which pays him $900000 annually.