Instant Analysis: Farabee Signs Six-Year Extension

Coming off a breakthrough 2020-21 season, 21-year-old Flyers winger Joel Farabee has one year remaining on his entry-level contract. On Thursday, the Flyers and Farabee made a long-term commitment to each other, as the player signed a six-year contract extension that will kick in for the 2022-23 campaign and run through 2026-27.

When the contract takes effect in a year, Farabee's cap hit will be a $5.0 million average annual value (AAV). The AAV on the remaining year of his entry-level deal is $925,000.
"Just to get this done before the season, I think, I was really happy. I came off a pretty good season last year and I definitely wanted to get things rolling. I'm glad both sides came to an agreement, and I'm really excited to be in Philly for the next seven years," Farabee said.
"Just being drafted to Philly was probably the best thing for me. I'm not far from home and I was able to pop in the last few summers here. I spent a lot of time here working on my body and things like that. I feel really good about the people we have here; the guys we have in the room. I'm definitely looking forward to the future and I think these next few years are going to be some big years for Philly,"

It is uncommon for an NHL team to lock up a player as young as Farabee not only with a year left on his entry-level deal and for the remaining duration of his restricted free agency years but also to pre-empt two potential unrestricted free agent off seasons. This speaks volumes about the level of faith that the Flyers organization has in the player.
"When I got drafted here, there was different management. But since Chuck and Brent have come in to Philly, everything has been smooth. They've been so good to me. For them to believe in me is awesome. I'm excited to prove how I can get better. ....Hopefully, things work out and I can stay in Philly my whole career. That's definitely something I want to do," Farabee said.
Over the long term, this contract has the potential to be a bargain for the Flyers. This is based on the assumption that Farabee continues the rate of progress he displayed from his first NHL season in 2019-20 to last season. It's a small sample size, but Farabee is almost universally regarded as a hard-working, competitive and level-headed young man who brings maturity beyond his years.
A little stronger and more assertive in his second NHL season, Farabee hit the 20-goal mark while posting 38 points in 55 games. He missed one game due to COVID-19 protocols.
"This offseason, I've put on a lot more strength in my legs and things like that to get me through the season. To me, just to eliminate those four- or five-game stretches where I'm a little inconsistent here or there. Try to clean up some things and be the most consistent player I can be," Farabee said.
As he notes, Farabee was not slump-proof in his second NHL season, but he was very good offensively in January and February and surged again late in the season. He's always had good two-way upside. He took further strides in his 200-foot game in 2020-21. The youngster hit a rough patch for a few weeks in March while the team as a whole was fragile and breakdown-prone, but he pulled through it as the season wound down.
During the 2020-21 season, Farabee had three power play goals and four power play assists. He averaged 2:00 of power play time ice time per game; 11th on the team but a figure that is likely to increase next season. He also averaged 1:20 of penalty killing time in his second NHL season.
Additionally, Farabee showed versatility last season in being deployed either on left wing or the right side as needed. Not being confined solely to left wing adds to his versatility and potential array of deployment possibilities.