Updated

The Philadelphia Flyers have won the Vincent Lecavalier sweepstakes.

The Flyers confirmed that the two sides have agreed to a multi-year contract on Tuesday.

TSN of Canada made the initial report earlier on Tuesday, revealing that Philly won out over Dallas and Montreal with a contract worth $22.5 million over five years for a cap hit of $4.5 million per season.

The first overall pick of Tampa Bay in 1998, the 33-year-old had spent his entire career with the Lightning, who decided to use a compliance buyout on the veteran's contract last Thursday to make him a free agent.

Lecavalier is Tampa Bay's all-time leader in goals (383) and games played (1,037) and is second in points (874). He scored just 10 goals and added 22 assists for 33 points in 39 games during the shortened 2013 season.

The 33-year-old Quebec native played 14 seasons for the Lightning and helped the team to its lone Stanley Cup title in the spring of 2004. He earned four NHL All-Star Game appearances and won the Richard Trophy as the league's top goal scorer with 52 in 2006-07.