07/01/2011 12:00 pm ET Updated Aug 31, 2011

NHL Free Agents 2011: LIVE Updates On UFA Day

It's July 1, and that means UFA Day for the NHL: unrestricted free agents will have the opportunity to sign with any team they choose.

The chaos starts at noon Eastern Time and you can follow live updates below in our live blog.

It's an interesting year as the free agent crop doesn't have as much star power as years past, but several teams are well below the cap floor so they'll have to put up big dollars.

The most prized free agent is center Brad Richards, and rumor has it the New York Rangers, Toronto Maple Leafs and Buffalo Sabres will all put together strong offers for him.

Richards refused to waive his no-trade clause from Dallas in June. For those looking for clues where he might go, he said on Twitter last night, "Big day tomorrow. Very open minded to all the situations that will be presented. To bad I couldn't try them all.... Will be good to move on."

Other big names to test the market include Erik Cole, Simon Gagne, Ville Leino, Michael Ryder, Tomas Fleischmann and Jan Hejda. Follow live updates below.

07/01/2011 7:03 PM EDT

Richards Mulling Multiple Offers

Center Brad Richards, the most prized free agent this year, remains without a team as of this hour and some believe he will sleep on his big decision.

The New York Rangers, Toronto Maple Leafs, Los Angeles Kings, Tampa Bay Lightning and Calgary Flames are all rumored to be in the mix still. There are rumblings the Philadelphia Flyers could put together a pitch too. The Buffalo Sabres for their part have said they're pulling out of the Richards sweepstakes after signing Ville Leino earlier today.

07/01/2011 6:08 PM EDT

Avs Sign 2nd Goaltender Of The Day

The Colorado Avalanche have signed Jean-Sebastian Giguere to solidify a one-two goaltending tandem, CBC reports.

07/01/2011 5:05 PM EDT

Fleischmann, Panthers Agree To Terms

Tomas Fleischmann has signed a 4-year deal worth $18 million with the Florida Panthers, The Globe and Mail's James Mirtle reports.

07/01/2011 4:34 PM EDT

Erik Cole To Habs

The Montreal Canadiens signed forward Erik Cole to a 4-year, $18 million deal. ProHockeyTalk has more on the deal.

07/01/2011 4:17 PM EDT

Leino Signs With Sabres

The Buffalo Sabres have signed forward Ville Leino to a 6-year deal worth $27 million, TSN reports.

07/01/2011 4:04 PM EDT

Flyers Send Versteeg To Panthers

Kris Versteeg has been traded to the Florida Panthers for a second round pick and a third round pick in 2012, per the Flyers Twitter account.

07/01/2011 3:40 PM EDT

Semyon Varlamov Signs With Avs

The Colorado Avalanche have signed goaltender Semyon Varlamov to a two-year deal, per TSN, after acquiring him from the Washington Capitals earlier in the day.

07/01/2011 2:36 PM EDT

Flyers Land Another Former Pen

After signing Jagr, the Philadelphia Flyers added center Max Talbot to their roster, just signed for five years, $9 million total, per Darren Dreger. The Pennsylvania rivalry with the Pittsburgh Penguins just got that much more interesting.

07/01/2011 2:22 PM EDT

Rapid Pace This Year

TSN's James Duthie notes, "27 signings so far in two hours and change. 30 last year in our entire 6-hour show."

07/01/2011 2:13 PM EDT

Panthers Sign Marcel Goc

Center Marcel Goc has just signed with the extremely active Florida Panthers, according to the Globe and Mail's James Mirtle.