UPDATE: Defenseman Matt Walker cleared waivers Friday and was loaned to the Phantoms.

The Flyers placed defenseman Matt Walker on waivers Thursday, and the $1.7 million that will come off the books will give them about $3.6 million in acquisition space.

In other words, enough to acquire Carolina's Erik Cole, a 32-year-old winger who has 13 goals and 15 assists this season.

Cole, who played for cpach Peter Laviolette when the Hurricanes won the 2006 Stanley Cup, is a player who would fit in well with the Flyers. He can become an unrestricted free agent on July 1, but his $2.9 million salary-cap hit would also fit this year.

Is a deal in the works?

Stay tuned.

As for Walker, he could clear waivers at noon on Friday. If he clears, he will be sent to the AHL Phantoms.

"Matt needs to play," GM Paul Holmgren said.

Walker, a physical player, has had surgery to each hip this season and has only played four games with the Flyers. He was viewed as insurance in case one of the Flyers' defensemen was injured down  the stretch.

In the off-season, Walker was acquired from Tampa Bay for popular winger Simon Gagne, a move made to free salary-cap space.

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For constant Flyers updates, follow Sam  Carchidi on Twitter at www.twitter.com/BroadStBull.

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