Coyotes acquire Gostisbehere, 2 draft picks from Flyers
Philadelphia sent a second- and seventh-round pick to Arizona in the deal.
Gostisbehere has recorded 219 points in 381 games and spent his whole career in Philadelphia since being drafted by the Flyers in 2012.
He has two years remaining on his contract which carries a $4.5-million annual cap hit.
For Philadelphia, the deal helps the team navigate the realities of a flat cap.
"This was a difficult decision but one we thought was necessary given the reality of the salary cap," Philadelphia general manager Chuck Fletcher said. "Shayne has been a quality player for this organization since the moment he arrived in Philadelphia."
The Flyers now have about $13.9 million in available cap space, per CapFriendly.
The 28-year-old ranked third among all team members in average ice time (19:56) this season. Philadelphia controlled 52% of the high-danger chances with Gostisbehere on the ice at five-on-five, according to Natural Stat Trick.
Gostisbehere's 60 goals are the fourth-most among defensemen in Flyers history.