The Philadelphia Flyers will not be signing top KHL free agent Maxim Shabanov after months of links and rumors.

As first reported by NHL insider Elliotte Friedman and The Hockey News's own Stefen Rosner, the prized forward talent elected to sign with the Metropolitan Division rival New York Islanders, choosing them over the Flyers and New York Rangers.

The Islanders confirmed the news, announcing Shabanov's signing on a one-year, entry-level contract Wednesday afternoon.

The 24-year-old was generally seen as a worth dart throw for the Flyers, who were and are still in need of young, dynamic forward talent that can help shape the team's future.

A natural playmaker and trickster on the ice, Shabanov racked up 23 goals, 44 assists, and 67 points in 65 regular season games for Traktor Chelyabinsk in the KHL, adding another 10 goals and 10 assists in 21 Gagarin Cup games.

It is unclear if the Flyers are planning on pivoting to another player on the free agent market now that Jakob Pelletier has left for the Tampa Bay Lightning.

After Tuesday's business in NHL free agency, the Flyers have $4.6 million in cap space remaining and still need to re-sign RFA defenseman Cam York.