From the Philadelphia Daily News:
General manager Paul Holmgren said yesterday the team felt all along that someone was going to offer Smith more than they would. They had informed him recently that with the contracts of Randy Jones and newly acquired Steve Eminger, he would not fit into team's budget for next season. Smith earned $1.9 million last season.
"I figured that someone would give him enough money this week that we couldn't come close," Holmgren said by phone, "and that sounds like what happened. But we wish him well. He's a great person, obviously a good leader, and a good guy to have on your team."
Read the entire article here.
Paul Holmgren shows class with the way he praises Smith for his work with the Flyers and wishes him well. The team will certainly miss his leadership.