Chris Phillips has agreed to a three year deal worth approximately $9 million to stay in Ottawa— Bruce Garrioch (@SunGarrioch) February 28, 2011
According to Bruce Garrioch, Chris Phillips has agreed to a 3-year deal worth approximately $9M, a cap hit of around $3M per season. That's a paycut of $500,000 a season.
UPDATE: According to Bob McKenzie at TSN, the deal is worth
$2.95M per year $9.25M total. It includes the Supersized Murray Special: a No-Movement Clause.