The Phoenix Coyotes showed they’re not afraid to spend in free agency, signing centre Mike Ribeiro to a four-year deal worth $22-million.
Ribeiro will count $5.5-million against the salary cap for a team that has an expanded budget under new ownership.
The 33-year-old centre said before the trade deadline that he was seeking a “long-term” deal to re-sign with the Washington Capitals, who acquired him at the 2012 draft.
He turned down a three-year, $14-million deal there.
Ribeiro had 13 goals and 36 assists in 48 games with Washington this past season.
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