The Philadelphia Flyers are closing in on hiring Rick Tocchet as their next head coach, sources confirmed to ESPN on Wednesday.

The framework of the deal would put Tocchet among the highest-paid coaches in the NHL, sources told ESPN. The Flyers were still going through formal steps of approval Wednesday, but the deal is expected to be announced this week.

Tocchet, 61, is already in the Flyers Hall of Fame after spending parts of 11 seasons with the team during his 18-year playing career.

The Flyers still consider themselves in a rebuild phase after missing the playoffs for the fifth consecutive season. Philadelphia fired John Tortorella in March after philosophical differences emerged between the coach and front office.

Brad Shaw served as interim coach for the remainder of the season, and the Flyers (33-39-10) finished tied for last place in the Eastern Conference.

Tocchet, who stepped down as coach of the Vancouver Canucks after the season as his three-year contract expired, was among the most desirable candidates in a crowded coaching market.

According to sources, Tocchet also spoke with the Seattle Kraken and the Anaheim Ducks, who never formally interviewed Tocchet prior to hiring Joel Quenneville last week. The Boston Bruins also had Tocchet high on their list.

Tocchet was also considering a return to television next season, sources told ESPN, after he served as a regular on TNT’s coverage prior to joining the Canucks. He has also appeared on the network’s coverage during the 2024-25 Stanley Cup playoffs.

Tocchet left Vancouver just one year removed from winning the Jack Adams Award. The Canucks, after a season of turmoil that included the trade of center JT Miller to the New York Rangers, missed the playoffs by six points.

Tocchet, who replaced Bruce Boudreau as Canucks coach in January 2023, had previous head coaching stints with the Tampa Bay Lightning and Arizona Coyotes. His career NHL coaching record is 286-265-87 in the regular season and 11-11 in the playoffs.

Daily Faceoff was first to report that Tocchet and the Flyers were close to a deal.